When you hear a new employee asking if “benefits” are offered, they are generally referring to health insurance. However, there are many types of employee benefits you can offer to make your company competitive:
can help you decide what level of coverage and level of contribution is right for your company – to keep your budget in line, keep you consistent with standards in your industry, and keep you competitive when hiring.
You have a great amount of flexibility in how much you will spend on benefits plans for your employees.
Full premium costs for the insurance varies based on carrier, plan type, level of coverage, region, and employee age.
However, you do not have to pay the full cost; most employers choose to pay for a percentage of their employees’ premiums. The minimum contribution on health insurance is 50% of the lowest level plan offered, though most employers choose to cover more to be competitive when hiring.
Ancillary benefits, such as dental and vision insurance, can be fully paid for by the employee as a voluntary benefit option.
Quotes and an analysis from Benefit Experts to help you decide if and when benefits implementation is right for your company are always free of charge!
Currently, under the Affordable Care Act, employers with 50 or more full time or full-time-equivalent employees are required to offer coverage.
If you are not sure whether you fall into that requirement, Benefit Experts can help you analyze when you will need to legally begin offering benefits. However, most employers – especially those in white-collar industries – offer benefits much sooner.
Group benefits plans give the participating employee access to better and cheaper insurance coverage than if they were buying it on their own. Some benefits can also be offered at no cost to you as the employer (e.g. dental and vision insurance), which gives the employee the option to sign up for a high-quality insurance plan for a fraction of a cost of what they would have paid on their own.
It is still a strong benefit that makes your company more competitive, but does not cost you to do so!
No – not with us! Benefit Experts never charges a fee of any sort to manage your benefits accounts, and in exchange, we take almost all the work off of your plate.
We manage enrollments, terminations, changes, renewals, calculating payroll deductions, and fielding employee questions.
Once the initial paperwork is set up, all you should ever have to do is let us know when an employee is hired or terminated; we’ll do the rest!
If you are interested in adding employee benefits for your company, here is an overview of how the entire process works:
After the initial paperwork, all you have to do is give us a new hire’s email address, and we will take it from there. We’re always here for employee questions as well, so that you do not have to be the expert on insurance.