Many businesses want to offer benefits for employees, but cost can be a major barrier.
Even if health benefits are not something a company is capable of offering, there are an array of other very valuable benefits that will attract and retain employees. And done right, you can offer discounted benefits to employees without costing the company money.
Group Benefits for Employees
Employers can offer an array of benefits and have them set up to be employee paid. This option saves companies money while still giving employees the ability to get benefits at a company rate. That means the benefits will likely be cheaper than an employee trying to get it on their own.
While this list isn’t exhaustive, these are some of the potential benefits: Dental
- Vision
- Life, including Term Life or Whole Life
- Disability, including short-term or long-term options
- Accident
- Cancer
- Hospital
- Critical Illness
What are the perks of offering these employee benefits?
With life insurance specifically, this benefit gives employee’s peace of mind that if they die, they are leaving their loved ones with a secure financial future. These policies can
be used to replace income after a death or cover final costs. With the life insurance options we’re able to offer, a lot of policies do not require employees to do a physical exam.
Since we have both short-term and long-term disability policies, employers are able to offer income protections for employees. These benefits would help in the event an employee has a baby and will be out on maternity leave for some period of time. These benefits also help covering time out of the office for illnesses like cancer.
With accident, cancer, hospital and critical illness benefits, policies pay money directly to the employee. For example, if the member has an accident, the plan will pay a certain dollar amount based on the services they received. Hospital, cancer, and critical illness policies all pay lump sums, sometimes as large at $20,000, if an employee is diagnosed with cancer or admitted into the hospital. This money comes straight to the employee, and they can do what they wish with it.
Help explaining employee benefits
Once we have picked out the plans an employer wants to offer, the team at Benefit Concepts will arrange an in-person meeting or Zoom calls with employees. The team at Benefit Concepts will present the benefits and be the employee’s resource when they have questions.
Benefits Concepts does it all. We will collect employee elections; submit them to the carrier; and provide the employer with the payroll deductions. We do this through an online portal that is free to our clients. This portal looks like the Amazon of benefits.
Our team doesn’t stop working after enrollment. The insurance experts at Benefit Concepts will be the resource for employees all year. Plus, as employees come onboard, we will add them to the online portal. The employee will then make elections there. If the employer needs to terminate benefits, we are also the contact.
“We don’t just sell and walk away,” Caroline Battey at Benefit Concepts explained. “We are always your resource.”
Where do I start planning for employee benefits?
Contact Caroline Battey or Sara DeBiasi at Benefit Concepts to start the process. With just basic information on employees, the team can start collecting quotes for employee benefits. Benefit Concepts works with more than ten carriers to make sure customers get the best rates and benefits. And with so many options, Benefit Concepts is able to customize employee benefit plans for each client.
