What does the group insurance mean?
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What does the group insurance mean?
In salary slip of every month there is a cut off of $1500 for group insurance. What does it mean?
Asked on December 26, 2018 under Employment Labor Law, Alaska
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
"Group insurance" is insurance purchased as part of a qualifying group, rather than as an individual. In an employment context, it most likely means the health insurance bought for employees as a group--employers rarely provide this entirely "for free" but rather typically charge some percentage of the premiums. The best way to definitively answer your question is to ask HR or payroll what this is for--but as stated, it's most likely for some insurance, like health insurance, bought for employees by the employer.
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