Employee Benefits – retaining your talented workforce

Group Health Insurance plans help keep your employees healthy so that they can focus on your business. You may find it easier to attract and retain talented employees for your business by offering an employee rich benefits plan.

Group Health Insurance is typically less expensive than insurance your employees can obtain on their own.To qualify as a Group Health Plan you need 2 or more people on a legitimate payroll. Less than 50 people is considered in many states to be a small group and if you have more than 50 lives it is considered a large group. The benefit is that you have the buying power of numbers. There are sometimes certain stipulations to qualify for your Group Health Plan like a wage or hour limit you have to work.

Accident Group Insurance

Accident group insurance does not require a wage or hours worked limit qualification. Accident insurance gives you a flat dollar amount depending on the diagnosis of the employee. Let’s say for example you are admitted to the hospital, the policy will remit a specific dollar amount which is in addition to the benefits paid by your group health insurance plan.

Group Vision Insurance

Group Vision Insurance can be included in your employee benefits plan. Group vision insurance is designed to reduce an employees’ cost for routine preventive eye care (eye exams) and to assist your employee in covering the cost for eyeglasses and contact lenses. These typically come with discount plans for elective vision correction surgery, such as LASIK and PRK.

Group Dental Insurance

Group dental insurance assists your employees in paying a portion of the expense associated with dental care. This policy can be benefit rich with smaller elimination periods and lower premium costs than if the employee were to purchase dental insurance on their own.

Group Dental Insurance has three primary categories:

1.Indemnity Plan

2. Preferred Provider Plan (PPO)

3. Dental Health Managed Organizations (DHMO)

Group Life Insurance  

An employee benefits plan that includes a no medical exam, life insurance policy will most certainly be attractive to potential and current employees.  By offering an employee life insurance plan that is not subject to medical underwriting is a huge benefit for many people and can help you retain key talent.  Many of the term life insurance policies offered as group life insurance are convertible to Universal Life and/or Whole Life insurance depending on the insurance carrier and policy.  To reiterate, this is a great way to attract and retain talented employees. You will find that employee participation in a rich employee benefits package is very high.

 

Employee Benefits

A benefit rich employee benefits plan helps to retain and attract talent