What's Included within an Employee Benefits Package

PPOs, HMOs, and HDHPs are all examples of viable group health insurance offerings. With a PPO (also called a Preferred Provider Organization), employees can go to any doctor or specialist they want without a referral. With a Health Maintenance Organization plan, however, employees need to go through their primary care to get a referral. The main difference among the various types of group health insurance plans has to do with the deductibles and copay that are required, as well as the monthly premiums that are charged to employers and employees.

Vision Insurance

Vision insurance is a (relatively) inexpensive addition to an employee benefits package that can make a big difference in terms of the value that you're providing to your workers. Anyone who has suddenly had to deal with getting glasses, regular contact refills, or sudden vision-related emergencies can tell you how expensive it is - and how appreciated a quality vision insurance plan is, as well.

Dental Insurance

Many people make the mistake of assuming that dental insurance isn't an attractive employee benefit because of how much less expensive dental care is relative to healthcare its "bland" reputation. When you consider the sheer cost of even routine dental procedures like root canals, however, the savings begin to add up fast. This is especially certain if someone is suddenly taking a proactive approach to their oral health, possibly for the first time in their lives.

Disability Insurance

This is a type of insurance coverage that protects employees who are unable to work because they fall ill or get injured. This comes in two variations - short-term and long-term disability. The former pays out for 3-12 months up to 26 weeks. Long-term disability would be considered anything after that point. Note that there are five states including California and New York with state disability insurance that actually require disability insurance from employers. This is also not quite the same thing as worker's compensation insurance as disability insurance policies cover employees for disabilities that occur outside of work.

Life Insurance

This common benefit is often paid for in entirety by the employer but can also be done on a voluntary basis  usually provided at no additional charge to the employee. They do, however, have the option to increase the amount of coverage they have for a fee. If nothing else, life insurance gives employees the confidence that only comes with knowing that even in the event that they unfortunately pass away, their loved ones will still be protected from a financial point-of-view.

Time-Off

Paid time-off is one of the best, easiest ways to not only attract top employees, but retain them as well. Note that while sick days are a big part of this, there are other types of days that qualify. Employees can use paid time-off to take a much-needed vacation for themselves, as personal days, or for any other purpose that they like. This is again a viable way tofor maintain the work/life balance that is so precious to them.



Flexible Schedule

In some industries, it doesn't actually matter when work gets done - so long as important tasks are completed. Technology has evolved to the point where it doesn't necessarily make sense to force everyone into the office to follow a rigid "9-to-5" structure. In those situations, businesses can turn this into an asset by offering flexible hours, telecommuting, remote work, and other possibilities to employees.

This is great for employees who may be trying to balance raising a family, for example, or taking care of loved ones. So long as their obligations are being met, they can work on whatever schedule they'd like.

Additional Employee Benefit Options

Gender affirming Transgender healthcare would be an example of an additional employee benefit option you can offer. This can help employees cover any medically necessary procedures while they transition. Another that has become more popular in the post-Roe v. Wade environment is reimbursing medical travel for things like employees seeking to exercise their reproductive rights or traveling to see a specialty provider for more acute illnesses and diseases. Telehealth has also become quite popular over the last few years, particularly in the wake of the COVID-19 pandemic. This again encourages people to take a proactive approach to their health, which helps them take fewer sick days and remain more productive.

Best Practices for Your Employee Benefits Package

The number one thing you can do when putting together your employee benefits package is talk to your workers to see what their unique needs are. Don't just assume you know what is best for them. Let them tell you directly. Make an effort to understand what their concerns are and what you can do to address them.

Beyond that, it's always important to enlist the help of seasoned professionals like those at AEIS, as opposed to trying to put together an employee benefit package on your own. We can leverage our pre-existing relationships with vendors to your advantage, allowing you to put together the most competitive package you can in the most efficient and cost-effective way.

If you'd like to find out more information about what is included within a high quality employee benefit package, or if you'd just like to discuss your workforce's own unique needs with a team of professionals in a bit more detail, please don't hesitate to contact AEIS today.