Group Health Benefits

What does offering health benefits give back to the business owner? 

  • Retention of good and valuable employees.
  • Lowers cost and hassle of high turnover Did you know the hidden true cost of turnover is about 5 months of the resigned employees pay?
  • Keeps employees happy and healthy, which puts them at their best for their job.
  • Offering benefits does have a tax advantage to the business owner as well.
  • Offering tax advantaged supplemental benefits reduces the cost of the core benefits. 

Questions before you decide on a broker?

  • Does your broker do the day to day tasks…or do they make your paid staff do employee additions  and terminations from the plan?
  • Does your broker give you the per paycheck deduction amounts-  or is that also left to your “HR Person”
  • Does your broker give your employees their phone number to help them with any issues that may arise-  or are YOU the point of contact?
  • Does your broker show up at open enrollment-  or are you left to explain benefits to your employees?
  • Many small employers lack a qualified HR professional-  do you have access to HR expertise when you need it and know how to handle sticky situations that arise?
  • Does your broker make sure that you have complied with COBRA regulations?
  • FSA accounts go a long way to reducing FICA and Workmen’s Comp costs… Does your broker take time to make sure you understand the advantages of these benefits?

What other ways can a small employer compete with a large corporation for employees? 

  • By being flexible with employee’s family demands- small employers can hire quality employees but thinking outside the box may keep that employee with you rather then going to a large competing employer.  
  • Hiring part time employees that can job share.
  • Letting employees flex their hours to suit travel challenges and personal challenges
  • Being open to remote work from home opportunities. 

Contact me for more information!