Strategies to help your business
Employee Retention and Recruitment
Having benefit options available for your team increases employee retention and makes recruiting easier. What is the real cost of replacing an employee who left for an extra dollar and hour? When offering these benefits with some small contribution, people stay much longer, satisfaction increases, as does company loyalty. Most companies offer their employees a stipend of $15 per week, (if paid weekly) to encourage them to participate. This has two benefits. It results in 100% participation which means that your staff is protected and will receive cash if they are sick or injured or are disabled. It also means that they will likely take more than the contribution value. The result is that your payroll tax savings will increase substantially due to the pretax nature of the benefits.
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We offer a wide range of employee benefit services including dental and vision plans, disability insurance, and much more.
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Strategies to help your business
Tax Savings Strategies
Keeping Workers' Compensation Premiums Down
Keeping Workers' Compensation Premiums Down
These benefits are IRS Section 125 "Pre-Tax". For each person that participates in the benefits, their Adjusted Gross Income is reduced. This results in your match on Social Security and Federal Unemployment Insurance is also lowered throughout the year, resulting in payroll tax savings for your business.
Keeping Workers' Compensation Premiums Down
Keeping Workers' Compensation Premiums Down
Keeping Workers' Compensation Premiums Down
The fewer workers’ compensation claims that are filed against your company, the lower your experience modifier ratings, which translates to lower workers’ compensation premiums.
Our accident and short-term disability insurance plans are a creative risk management solution that can help transfer risk from the variable rates of workers’ compensation insurance to the stable rates of supplemental insurance plans.
They can also help to:
- Reduce employees’ temptation to file “Monday morning claims” from an accident or injury that occurred outside of work.
- Quickly pay cash benefits directly to the insured to help them pay for expenses related to treatment and recovery of covered accidents.
- Reduce frequent, small losses that result from eMod ratings, and lead to sustained savings over time.
Strategies to help your business
Family Planning
Many health insurance plans cover a large portion of pregnancy- and birth-related care, but the out-of-pocket costs can add up to $2,854 on average.
Hospital indemnity coverage offers cash benefits to help cover additional expenses not paid by insurance, while short-term disability helps replace income lost from missing work time. That means less financial stress for new parents, who can use the cash benefits to help cover hospital bills, newborn appointments, diapers and more.
If any of your employees are thinking about having a baby, have a powerful strategy that can help any growing family.