Series navigation. This is Part 1 of a three part Binder HR series on group benefits. Part 1 Beginner is written for small businesses buying a plan for the first time. Part 2 Intermediate is written for medium businesses. Part 3 Advanced is written for large businesses. This article is general information only. It isn't individualized insurance, tax, legal or financial advice. For a small business, the first group benefits plan is often the first time the owner has to think like an insurance buyer. There are products to understand, a budget to protect, a handful of tax questions and a long list of terms that advisors use without explaining. This article walks through the decisions in the order they usually come up, starting well before anyone asks for a quote. What a group benefits plan actually is A group benefits plan is a package of coverage that an employer arranges for its employees as a group, rather than each person buying coverage on their own. The package commonly includes some mix of health, dental, life and disability coverage.
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