What Are the Different Types of Employee Benefit Plans?
Do you know what the different types of employee benefits are? As an employee it is essential that you understand the different types so you can be sure that you are receiving the benefits that you should be. First you need to understand what benefits are. They are basically the perks that you are offered in addition to your salary when you hire into a company. Now, here are the different types of important benefits that are the most common for you to be aware of. 1. Medical insurance – This will cover the cost of the physician or surgeon fees, hospital rooms, and prescription medications. Sometimes, dental and optical are also covered. There are times that your family can also be included on this insurance. 2. Life insurance – This is essential for protecting your family in case you should die. The benefits will be paid to your family all at once to the designated beneficiaries of the policy. 3. Disability insurance – This will protect your family from financial ruin if you are injure
