Offering employee benefits for the first time can be challenging if you’re not sure where to start.  An employee benefits package can be as limited or as grand as you like.

Employee Benefits to Consider Offering

· Health Insurance – Small group health insurance plans come in a variety of options including PPO, HMO, and POS networks. HSA options are also available. Most employers who offer health insurance contribute a percentage to each employee’s premium. As the employer, the contribution amount is up to you.

· Dental and Vision Insurance – Dental and vision options can be offered as a voluntary benefit where the employee pays or contributory where the employer pays a share of the premium. These are lower cost benefits that are usually voluntary.

· Life and Disability Insurance – Life and disability options are usually something an employer offers after health and dental/vision benefits are established. These benefits are less expensive if they are contributory or paid by the employer. They can also be offered as voluntary benefits.

· Alternative Health Benefit Options – Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) or Health Reimbursement Accounts (HRAs) are all great options to help employees control their medical costs. These options can be added along with your health insurance options.

· Supplemental Insurance – Such as Accident, Critical Illness and Hospital Indemnity plans are great lower cost options to offer to protect employees at work or at home. Some employers contribute to these plans if they cannot afford to offer traditional health insurance.

· Health Sharing Accounts – Health Sharing Accounts have been around since the 1990s. They are just now becoming very popular. They are not insurance, but offer similar benefits. 

· Section 125 POP Plans – With a Section 125 Premium Only IRS Plan, many benefits are available to an employee as pre-tax options, lowering an employee’s overall taxable income. Their benefit deductions are subtracted before tax withholdings are calculated on the employee’s paycheck (this can also lower your payroll tax liability).

Ready to Get Started?

If you’re ready to start offering employee benefits, you will need to complete small group forms, and in many cases provide tax forms to the carrier you choose. Once forms are completed, I will work with you to get your employees enrolled. It’s as easy as that! Offering employee benefits will help you retain and recruit employees and contribute to a healthier workplace.