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16+ types of employee benefits you should consider

Genesis HR Solutions

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. It covers things including hospital and doctor visits, surgeries, and prescriptions. Hospital Insurance. Hospital insurance is health insurance for hospital costs.

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5 Benefits to Help Employees Cope with Inflation

Best Money Moves

A few great ways for employers to assist employees are auto-enrolled retirement plans and increasing 401(k) contributions. Improving retirement benefits can also be a great way for employers to keep up with the competition in their industry.

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Two-thirds of Small Firms Are Boosting Their Benefits Packages: Poll

InterWest Insurance Services

401(k)s or other retirement plans. Defined benefit pension plans. Hospital indemnity insurance. Financial planning and education workshops. Among these must-have benefits: Prescription drug coverage. Dental insurance. Life insurance. Vision care. Accident insurance. Critical illness insurance.

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Budgeting for Benefits: Sage Advice for Cost-Conscious Employees

Griffin Benefits

Such risks can manifest themselves in larger out-of-pocket expenses, or cash flow issues at the beginning of the plan year, while they work to satisfy their deductible. On the flip side, employees should also be made aware of the possible upside they are giving up in terms of premium savings, should they not elect a PPO health plan.

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What employees expect from benefits packages

Business Management Daily

To qualify as such, the government states the plan must “pay at least 60% of the total cost of medical services for a standard population” and “include substantial coverage of physician and inpatient hospital services.”. Medical plans with no or low-cost deductibles. Outstanding pharmaceutical and/or hospitalization coverage.

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How HR Can Help Employees Facing Financial Hardship?

Hppy

According to a 2022 survey by the Society for Human Resource Management, only 21% of employers currently offer non-retirement financial benefits. However, companies are increasingly recognizing the importance of addressing their employees’ financial well-being beyond retirement planning.

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Here’s What You Need to Know About Stop-Loss Health Insurance

Griffin Benefits

Stop-loss insurance is essential for a self-funded plan because it enables an employer to cap medical claims expenses at a specific amount. STOP-LOSS HEALTH INSURANCE STARTS WITH MANAGING COSTS Whether from providers, hospitals, or for drug regimens, it’s not uncommon for health plans to experience individual claims of $500,000 or more.