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Pairing high-deductible health plans (HDHPs) with HealthSavingsAccounts (HSAs) or adding wellness programs can help employees offset costs while staying engaged in their health. Proactively Address Premium Increases If your organization is facing premium increases, consider offering creative solutions.
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 services that may be offered under an employee assistance program, such as legal aid and childcare assistance, may also have a positive impact on mental health and stress levels. Financial Wellness: Money can be a major source of stress and anxiety for many workers.
Some of its key components include: Healthinsurance: Covers medical expenses. Retirement plans : Helps employees save for the future. Life and disabilityinsurance : Provides financial support in emergencies. Paid time off (PTO): Employees can take time off with pay.
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% HSA value isn’t always obvious. As Seen In.
Workers’ Compensation insurance. Health, dental, and vision insurance. Life and disabilityinsurance. HealthSavingsAccounts (HSA). Social security tax. Unemployment tax. Indirect Compensation: Benefits. Retirement plan contributions (401k). Accrued paid time off (PTO/Vacation time).
5 Source Features Health, dental, and vision insurance Life and disabilityinsurance 401(k) retirement plans Healthsavingsaccounts Flexible spending accounts Workers’ compensation insurance Commuter benefits, gym memberships, and mental health assistance.
Standard” benefits may include: Health, dental and vision insurance Retirement savings plan, with a company match Life insuranceDisabilityinsurance Workers’ compensation insurance Paid time off (PTO) – two weeks per year at a minimum, three weeks per year preferred.
USI’s benefits offerings include a comprehensive suite of healthinsurance options, including medical, dental, and vision insurance. The company also offers flexible spending accounts (FSAs) and healthsavingsaccounts (HSAs) to help employees save money on healthcare costs.
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.
Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured’s death.
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. The employee saves money because this set-aside money is not taxed. HealthSavingsAccounts.
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.
An independent insurance agent has access to several healthinsurance plans and can shop the market on your behalf and help you find the option that best suits your needs. If you’re using the SHOP marketplace to buy healthinsurance for your employees, you can also use it to buy dental insurance.
DisabilityInsurance: Protecting Income During Life’s Unexpected Turns Accidents and illnesses can disrupt financial stability. Offering disabilityinsurance ensures employees are protected if they can’t work due to medical reasons. Ideas: Offer both short-term and long-term disability coverage.
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