Employee Benefits Guide: 5 Benefits You Should Offer

Employee benefits are a type of compensation that companies offer to their employees to boost office morale, attract high-quality talent, and improve employee satisfaction. These benefits are an integral part of today’s workforce and are essential to becoming an employer of choice. In this blog, we will explore some of the most common employee benefits offered across FL, LA, AL, NC, SC, and TX. This is not an exhaustive list of insurance plans, but it is a good place to start when thinking about creating a more competitive employee benefits package for your employees.

Medical Insurance

While there is no compulsion for companies to offer health insurance to their employees. However, Obamacare imposes some extreme penalties on mid and large-sized companies that do not provide employer-sponsored medical insurance. That does not mean small businesses should not offer health insurance, instead, providing medical insurance to your employees can help you attract and retain top talent and improve your reputation in the employment market.

Prescription

Do you want to offer more benefits to your employees? Prescription drug coverage offers huge benefits to both employers and employees including higher medication compliance rates, increased savings for employees, and lower prescription costs for employers. Consider adding a short-term medical products plan from a reliable insurance agency such as Strake Financial Services to your current employee benefits package and enjoy the rewards.

Vision

Nowadays, employees want more than the typical healthcare plans that cover only hospitalization. They expect benefits that cover a range of services that are not included under Medicare services, like vision care, dental treatment, prescription glasses, and more. By offering ancillary services like vision insurance, you can help employees maintain their optimal health and boost their morale.

Dental

Like vision insurance, employees highly value dental coverage. They prefer benefit plans that contribute toward their regular or routine healthcare costs such as dental care, prescription drugs, and other non-covered services. So, consider offering dental coverage as part of your benefits package to attract top talent and retain your valuable workers.

Retirement Plan

Creating a qualified retirement plan can help you become more attractive to quality employees and retain those employees who are most valuable to your business’s success. By offering a qualified retirement plan, you will save on your tax returns as well. The sooner you create your retirement plan, the more secure you and your employees will be later in life.