Health and Welfare Plans
Health and Welfare Plans provides health-related benefits to employees and their families, typically just while the employee is working for the employer. However, some employers offer Health and Welfare benefits to retired employees as well. These benefits may include insurance to cover the costs of visiting a doctor, or receiving medical care in a hospital. Health and Welfare benefits also usually include provisions to pay for part or all of prescription drug costs. Dental and eye care insurance may also be covered under some Health and Welfare plans.
Employers pay for some, and often most, of the cost of basic health care insurance for their employees. It is not uncommon, however, for employees to pay a portion of basic health care insurance costs.
It is quite common for employers to provide health care insurance for dental and eye care on an optional basis where employees share a larger portion of the cost with the employer.
Also, employees usually have many options related to health care. They can often pick the level of health care coverage they wish to have, whether or not a spouse or child will be covered by the insurance, and of course any optional insurance, such as dental, if it is available in the plan. All of the various levels of coverage have different costs. Typically, as the cost of the insurance option increases, the employee is required to share an increasing portion of the cost.