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Matching 401(k) contributions 2. Health care flexiblespendingaccounts 3. Health insurance 2. Dental or vision insurance 4. Considering health care and lifeinsurance 5. Retiree health insurance 6. Some top choices trending today include: 1. Tuition reimbursement 4.
Options can include: Health insurance, Voluntary benefits premiums (like vision and dental), Lifeinsurance, 401(k), and. Flexiblespendingaccount. Call us for more information on how you can set up a flexible benefit plan for your staff. Flexiblespendingaccounts.
Best practice: List all benefits and deductions to determine whether they’re impacted: Medical, dental, life, vision, group-term lifeinsurance, long-term disability, dependent care, flexiblespendingaccounts and health savings accounts. In addition, 401(k) nondiscrimination testing may be affected.
Benefits: This category encompasses a wide range of benefits, such as: Health insurance (medical, dental, vision) Retirement plans (401(k), pension) Lifeinsurance Disability insurance Paid time off (vacation, sick leave, personal days) Flexiblespendingaccounts (FSA) Employee assistance programs (EAP) Perks: These are additional non-monetary benefits (..)
Some benefits to consider adding or expanding are: 401K benefits: If your business is not matching contributions, you may want to look into what competing employers are doing in terms of retirement benefits and whether there is room in the budget to offer some level of matching. The IRS sets annual HSA contribution limits.
Disability Insurance and LifeInsurance. Health insurance is a key element of any employee benefits package, but small business owners should consider offering other benefits as well. Lifeinsurance is a popular choice. Disability insurance is another popular option. Other Key Benefits.
Insurance types: Medical, dental, vision, disability, and lifeinsurance plans. Tax-preferred plans: Health flexiblespendingaccounts, health savings accounts, health reimbursement accounts, transportation accounts, and more. 401(k) and retirement plans.
There are four major types of employee benefits many employers offer: medical insurance, lifeinsurance, disability insurance, and retirement plans. Medical Insurance. FlexibleSpendingAccount (FSA). Hospital insurance is health insurance for hospital costs. LifeInsurance.
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. Disability insurance , provides employees with replacement income and pays for medical bills if they become disabled and are no longer able to work.
Organizations also frequently provide employees with free or low-cost lifeinsurance. Large and small businesses alike benefit from sponsoring plans such as 401(K)s and Simple IRAs. Employers also may want to explore benefit plan additions such as: FlexibleSpendingAccounts.
These include: Health insurance and related services : These are the bread and butter of contemporary benefits. In addition to meaningful health coverage, it’s wise to have vision and dental insurance as part of this category. Be sure to evaluate whether or not these plan options make sense for your firm.
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: Clearly communicate the benefits and tax advantages of these accounts.
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