Building out a comprehensive employee benefits package
There are a variety of things to consider when building out a benefits package that works for the company and is attractive to your employees. This involves considering a number of things such as cost, employee demographics and their needs, and selecting benefits products that can offer the broadest coverage available. The list of benefits you can offer are endless and can be overwhelming. Here’s a look at some of the most popular benefits and how they can add value to your employee benefits package.
With rising costs in healthcare, health insurance remains a foundation for many employee benefits packages and often the most expensive. It covers most medical expenses such as doctor visits, hospital stays, surgical procedures, important preventative care, and prescription drugs.
There are a variety of dental insurance plans that can be added as a part of a comprehensive employee benefits package. Most are designed to help cover the costs of preventative, basic, and major services.
Vision insurance is usually an optional addition to a benefits package and is designed to help cover ongoing vision care expenses like routine eye exams. It may also reimburse a fixed dollar amount and offer additional discounts towards the costs of lenses, frames, and contacts.
Disability (Short and Long-term)
The most valuable asset you can protect is the ability for you and your employees to earn income even in the face of uncertainty, which is why short and long-term disability insurance policies provide added value to your benefits plan.
Short-term disability insurances ensure that employees will still receive a percentage of income if they cannot work due to sickness or disabling injury. Depending on the plan, it will generally pay between 13 to 26 weeks. It’s important to remember that this is different from worker’s compensation and is not for work-related injuries or illnesses.
Long-term disability is an insurance policy that protects employees from loss of income if they are unable to work due to illness, injury, or accident for a long period of time.
Meet the Choice Benefits Team
Products sold through our Insurance and Wealth departments are: NOT A DEPOSIT • NOT FDIC INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT GUARANTEED BY THE BANK • MAY GO DOWN IN VALUE