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A handy jargon buster to help you understand some health insurance terminology.

 

VOLUNTARY GROUP INSURANCE PLANS

A Voluntary Plan is when a company offers a group insurance scheme to it’s employees, but at no cost to the business. Instead, if an employee opts-in, they would pay the entire monthly premium out of their salary.

The benefit to the company is a low or zero-cost benefit for it’s staff, as well as a channel for promoting healthy lifestyles and wellbeing. The benefit to an employee is that they can secure good discounts on insurance policies, plus not have to worry about paying premiums as it comes direct from their salary.