If your company wants to attract and retain highly qualified workers, offering an attractive employee benefits package is one of the best ways to do so. Yet, with so much information available, it can almost seem overwhelming trying to narrow down which plan – and which provider – will work the best for you.
There are many variables that can go into choosing an employee benefits plan – but the most important criteria are the factors that will make the package right for your specific business, as well as your employees’ needs.
At Insurance Connection, we will work with you in combining all of the right components that will make the benefits plan that you choose the one that is customized best to the coverage needs of your employees and your management team.
When deciding which plan is right for your business, some of the key elements to look for should include:
Certainly, the primary item in most employee benefit plans will be health insurance. Here, there are many options to choose from, including Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), Point of Service Plans, and High Deductible Health plans. For companies that agree to cover their own costs, self-insurance is also another alternative.
Another key employee benefit option is dental insurance. There are a number of choices in this category as well, such as either fully- or partially-funded employer plans where the company pays either all or part of the employees’ costs. Fully funded employee plans are another option whereby the employee can pay for the entire cost of his or her benefit and have the company pay only the administrative and payroll deduction expense.
Health Savings Accounts :
Many businesses also provide HSA accounts so that employees can set aside funds on a pre-tax basis for paying various medical expenses that aren’t covered by insurance.
Retirement Savings Plan:
Having a retirement savings plan can also help your company to find and keep good, quality employees. Today, one of the biggest fears that people have is running out of money in retirement. Providing employees with a way to save for the future can help in alleviating some of these fears early.
Offering these advantages can be an ideal way to find and retain employees who will not just work for your company, but who will work for the good of your business overall. For more information regarding insurance quotes and securing the right employee benefits, Texas, Washington, and New Mexico business owners should call or visit the nearest Insurance Connection location today.
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To learn more about the specific employee benefits solutions and group commercial insurance products available, contact us by phone at 800-732-0249 or email firstname.lastname@example.org.