Anatomy of an Employee Benefits Plan

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Health Insurance is the #1 most sought after benefit among job seekers. Offering the right plans can ensure you hire and retain the best employees.

If your company can afford to offer Health Insurance, you definitely should. If not, look into a ICHRA or QSEHRA to help your employees pay for their individual coverage.

Dental and Vision Insurance programs are low cost and easy to administer while still being meaningful to your employees.

Employers typically pay 50% of the Individual premiums on these programs but some companies offer them on a strictly voluntary basis.

Short Term and Long Term Disability Insurance are a staple in employee benefits. And for good reasons.

1) Many employees can't get Disability Insurance outside of their employer.

2) Most employees can't make it very long without a paycheck if they get sick or hurt.

Short term disability usually lasts up to 3 or 6 months. Long term disability usually kicks in at that point. Both are commonly 50% employer funded but we sometimes see 100% employer funded Long Term Disability and 0% employer funded Short Term Disability.

Company paid Life Insurance is one of the most common benefits for employees. It is often expressed as a flat dollar amount or as a percentage or multiple of salary. 

Offering voluntary Life Insurance is just as important as sometimes your employees' spouse or children are uninsurable otherwise. Make sure at least some of these plans are portable just in case the something major happens with their health.

Employers everywhere are adopting stand-alone telehealth programs. Why? Because it's nothing but wins.

1) Low cost to provide.

2) Employees out of pocket costs are low so they often get treated sooner and get better faster.

3) Employees don't have to miss work to talk to a doctor. 

4) Usage does not affect your health insurance premiums.

We offer plans as low as $16/person/month. These plans have $0 copay when an employee calls a doctor and often include behavioral health visits at no additional charge.

Yes, you can get these plans cheaper but then your employees will have a $35-$50 copay and they may not use it. Don't go cheap on this one.

Supplemental health Insurance used to be premium perks. Now with the cost of healthcare skyrocketing and out of pocket maximums getting bigger and bigger, Supplemental Health insurance is a necessity. 

HSA's, FSA's, and HRA's are also great options to help with the added burden.