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There are four major types of employee benefits many employers offer: medical insurance, life insurance, disabilityinsurance, and retirement plans. Medical Insurance. Medical insurance is likely a no-brainer— it’s one of four major types of benefits most employers offer. HealthSavingsAccount (HSA).
Unemployment insurance. Disabilityinsurance (required in California, Hawaii, New Jersey, New York, Puerto Rico and Rhode Island). However, some businesses offset this cost to their employees by contributing money to healthsavingsaccounts. These required benefits may include: Social Security.
Healthsavingsaccounts can be a good deal for employees. High deductible health plans (HDHPs) are on the rise as a growing number of employers turn to consumer-directed health plans to try to curb costs—the portion of employees enrolled in HDHPs rose from 26.3% Treat the HSA More Like a 401(k) than an FSA.
DisabilityInsurance and Life Insurance. Healthinsurance is a key element of any employee benefits package, but small business owners should consider offering other benefits as well. Life insurance is a popular choice. Disabilityinsurance is another popular option. Other Key Benefits.
401(k) matching contributions. Insurance, including health, dental, vision, life, disability, etc. Workers’ Compensation insurance. Health, dental, and vision insurance. Life and disabilityinsurance. HealthSavingsAccounts (HSA). Commissions.
Other types of insurance If an employee loses their ability to earn an income on a temporary or permanent basis, certain types of insurance can help protect their families and livelihoods. Disabilityinsurance , provides employees with replacement income and pays for medical bills if they become disabled and are no longer able to work.
Employee benefits plans commonly include worker’s compensation and disabilityinsurance to ensure a sick or injured employee receives at least a portion of his regular pay until able to return to work. Large and small businesses alike benefit from sponsoring plans such as 401(K)s and Simple IRAs. HealthSavingsAccounts.
5 Source Features Health, dental, and vision insurance Life and disabilityinsurance401(k) retirement plans Healthsavingsaccounts Flexible spending accounts Workers’ compensation insurance Commuter benefits, gym memberships, and mental health assistance.
Many workers today struggle with saving for retirement, and offering employer-sponsored plans gives them a much-needed head start Ideas: Offer matching contributions to 401(k)s, SEP IRAs, or SIMPLE IRAs to incentivize participation. Ideas: Offer both short-term and long-term disability coverage.
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