Why You Should Offer Ancillary Benefits to Your Employees

To create a more attractive employee benefits package, you should consider adding a selection of ancillary products to your health care plan. Some of the valuable ancillary insurance in the USA include dental, vision, disability, life insurance, and accident insurance. Many employers are offering dental and vision benefits to their employees and enjoying the associated rewards. Here is how adding ancillary benefits to your current coverage options can be advantageous to your company.

Employees Appreciate Ancillary Benefits

Most employees value their health benefit plan because of its contributions toward regular or routine healthcare costs such as eye checkups and dental care. Ancillary benefits paired with a group health insurance policy give your employees access to services they may not otherwise have, such as dental care and short-term medical product coverage. It is beneficial to add dental, vision, and other ancillary policies to your employees if you want to attract top talent and retain your key players. You can shop for ancillary insurance from any insurance company in FL, LA, AL, NC, SC, and TX or work with an insurance agency like Starke Financial to select plans that best suit your needs and budget.

They Are Easy To Offer

There are two different types of ancillary products namely employer-contributory ancillary benefits and voluntary ancillary benefits. When you choose to offer employer-contributory ancillary benefits, you pay 50% to 100% of the premium, while for voluntary ancillary benefits, you will pay up to 40% of the premiums. Whether you offer employer-contributory ancillary benefits or voluntary ancillary benefits, your employees are going to appreciate the benefits as purchasing through an employer is mostly cheaper than purchasing coverage as an individual. Employees will also get tax benefits by investing in these plans as they use a portion of their pre-tax income to pay for ancillary benefits.

Help Employees Stay Productive

Firstly, ancillary benefits provide employees with invaluable peace of mind by ensuring that their employee benefit plan contribute towards regular or routine healthcare costs. Employees who are happy with their employee benefit package can become more engaged and loyal. Adding ancillary benefits to your current coverage options can also help current employees stay healthy and productive. By having coverage to routine healthcare costs, your employees will develop healthy habits of regular checkups. Most importantly, having a comprehensive coverage in place can reduce sickness absence caused by health issues.