Providing the Best Employee Benefits in the Workplace

Employee benefits are non-financial compensation offered to employees from employers. Usually these benefits include health insurance, but they can also include retirement plans and even stock options.

There are lots of options for employee benefits, which is why many businesses may want to hire an employee benefits broker. Learn more about why employee benefits are important, which ones you should offer, and how a broker can provide strategic consultation and support for your business.

Why Are Employee Benefits Important?

Employee benefits tell your employees that you are invested in their health and well-being. It is important for them to feel like they are getting more than just job experience from their career. When an employee feels valued, they are more likely to stay with your company for a long time.

In addition to creating loyal employees, the right benefits package can give you a competitive advantage in recruiting. A benefits package could be the deciding factor when accepting a job offer. Your current and future employees may be affected by the benefits you choose to offer.

What Employee Benefits Should You Offer?

While business owners are required by law to offer specific employee benefits, there are several options for additional voluntary benefits. You may find that you’d benefit from a custom-built plan for your organization. Keep reading to learn more about benefits available in SSGI’s custom employee benefits packages.

Employee benefits employers are legally required to offer:

  • Family and Medical Leave (FMLA) (for companies with 50+ full-time employees)

  • Continuation of Health Coverage (COBRA) (for companies with 20+ full-time employees)

  • Health Insurance (for companies with 50+ full-time employees)

  • Social Security, Medicare and Federal Insurance Contributions (FICA)

  • Unemployment Insurance

  • Workers’ Compensation Insurance

Common voluntary benefits include:

  • Vision and Dental Insurance

  • Life Insurance

  • Disability Insurance (required by law in select states)

  • Accident Insurance

  • Personal Travel Accident Insurance

  • Critical Illness Insurance

  • Hospital Indemnity Insurance

  • Identity Theft Protection

  • Pet Insurance 

  • Legal Protection

Now that you have a general understanding of what employee benefits are all about, let’s dive into insurance brokers, because you don’t have to do this alone.

Should You Hire an Employee Benefits Broker?

There are many reasons that your organization should consider hiring an employee benefits broker:

  • Unlike an agent, health insurance brokers work with a wide network of health insurers, so they can provide you with different plan options from a range of companies.

  • Some insurance companies will not sell their group plans directly to a consumer. In such instances, you must use a broker to manage the plan.

  • If you need help with HR compliance and regulation, a broker can help you stay informed and compliant.

  • Brokers are HIPAA compliant, so they can take employers out of the equation when it comes to medical claims.

  • Brokers can do the heavy lifting for you, helping to manage administrative functions. This can be especially helpful if you are a small business owner.

  • Brokers can help with employee communication regarding benefits enrollment.

  • Brokers offer services that can help manage costs associated with employee benefits.

What Should You Look For in a Broker?

When evaluating brokers, you’ll always want to first make sure they are licensed in the areas you do business. Next, ask about their services. Some brokers may specialize in health insurance, while others may be able to offer HR compliance consulting, employee communication, and other services.

It is important that you trust your broker so that you can feel confident you are providing the best solutions and benefits for your employees. The right broker should act as part of your team or staff.

Prioritizes Your Needs

Your insurance broker should put your needs first. Someone who genuinely cares about your business will want to do everything in their power to keep you and your employees happy. SSGI’s brokers pride themselves on ensuring that you have the support you need.

The right employee benefits package varies from business to business. Our brokers are here to help you find the best solutions for you and your employees.

Gives You Individualized Attention

Your employee benefits broker should be on your side. As part of your team, SSGI delivers a truly collaborative, unique, and transparent experience. Some employers may be attracted to larger insurance agencies, but choosing a smaller agency such as SSGI comes with the confidence of knowing that as a client, you will receive individualized attention.

Partners With Your Business for the Long Term

The right broker should be with you for the long term. Look for someone who will give you what you need to succeed as your business grows even after helping you make decisions regarding employee benefits plans. The right insurance broker will not leave you in the dark.

When you work with SSGI, you will receive on-going HR support, strategic consulting, and compliance briefings. This is one way we help our clients stay up to date as their business grows and evolves.

Employee Benefits for Your Business

Employee benefits are essential to the workplace. While not all benefits are required by law, offering the right benefits package can help you attract new employees and retain your talent. Deciding which benefits to offer and staying on top of regulations and compliance can be challenging and time-consuming. In this case, an employee benefits broker that puts your business needs first can be a great partner and asset.

If you think SSGI may be the right fit for you and your business, book your free consultation, or email us at VIP@SSGIBenefits.com.

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