Employee Health Accounts – There are a number of ways that an employer can help their employees deal with the costs of out-of-pocket health care spending. One of the best ways to do this is through a tax-sheltered spending plan designed to help offset the costs of health services. This includes options like Flex Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs). Tax-advantaged accounts like these can be a great way to maximize the savings benefits of your employees’ health spending.
Wellness Programs – Another great way to get the most of your employee health plans is to offer an incentivized wellness program that encourages employees to take a more active role in their health. With a wellness program, employees qualify for certain rewards (financial or otherwise) for participating in a program that emphasizes long term health rewards through healthy lifestyle choices. Not only are these programs a great way to help your employees save money, but it also contributes to a healthier workforce over the long term.
Retirement – Retirement is important to today’s workers, especially with the looming uncertainty around pensions and social security checks in the future. Offering a good retirement plan is an excellent way to increase employee satisfaction and worker morale. According to a recent report, employees currently have more satisfaction with their retirement benefits than with their health benefits, providing an opportunity for employers that offer a quality retirement or 401(k) benefit.