When you think about company employee benefits packages, you probably jump right to health insurance, paid time off, and maybe a retirement plan. Those traditional benefits form the foundation of a competitive benefits package, and they are certainly important. But for an employer that wants to go beyond basics, some choices can help you stand apart from your rivals and attract the best talent without breaking your budget. Count on your consultant at Taylor Benefits Insurance to keepRead Full Article Here
The COVID-19 pandemic has not been kind for a lot of companies, and small businesses, in particular, have struggled to stay afloat. To come to their help, the US Government has provided special relief programs designed to support certain businesses during these difficult times, like PPP loans. If you’ve received such a loan, here’s how it impacts unemployment benefits.
Employer-paid benefits (sometimes explicitly referred to as 100 percent employer paid benefits) is an unusual offering that provides workers with access to some or all of their employee insurance coverage at no cost. While many companies share the cost with their workforce, most don’t pay the entire bill. In fact, worker contributions have been increasing over time, both as an absolute dollar amount and as a percentage of the total cost, according to research reported by the Kaiser FamilyRead Full Article Here
Group health insurance plans are a common and culturally-expected benefit that comes with full-time employment in the US. Our private healthcare system is expensive and health insurance is one way that citizens in the US manage the costs of healthcare. With a group plan, the employer pays a portion of the premium and the employee pays a portion of the premium through a payroll deduction. A group health insurance plan provides coverage for typical medical costs like doctor’s visits,Read Full Article Here
While many employed adults have large group medical insurance plans, somewhat fewer have access to group dental insurance. Large companies are more likely to offer it than smaller firms, as well as to pay more of the premium cost, according to Dental Plans, a trade association. Those companies that provide coverage to their workforce may offer either an indemnity plan or managed care options. Indemnity plans pay a set dollar amount for a menu of possible services, no matterRead Full Article Here
Businesses big and small are eligible to purchase group health insurance. However, the rates tend to be more favorable for larger companies based on the number of participants. Still, group health insurance is still a nice benefit to offer employees.
The House of Representatives passed HR 2954—Securing a Strong Retirement Act—referred to as Secure 2.0, intending to help Americans save for their retirement. The Senate will now consider similar legislation, and Congress will later reconcile any differences in the two versions. This legislation would build on the changes made in the Secure Act of 2019. A hallmark provision of the 2019 law made it easier for small businesses to set up “safe harbor” retirement plans. This change allowed smallerRead Full Article Here
The impact of Covid 19 has raised business and employee awareness about health issues and the importance of health insurance. Finding the best small business group health insurance provider and navigating the features, benefits, and costs remain a priority for small businesses. Let’s explore the health insurance benefits that matter most to employees and the critical ways group health insurance can benefit your small business.
If your company is like other businesses, trying to find ways to stand out and gain an advantage in the competition for qualified employees, then reviewing your optional employee benefits is one potential avenue to success. Current research indicates that workers care about the benefits package, and you may be able to get some attention with the addition of some less standard perks. That doesn’t mean you should skimp on the usual health insurance and retirement, of course,Read Full Article Here
So many people are talking about the Great Resignation, as millions of workers leave their jobs and go…. well, where are they going, and why? Inc. Magazine published findings from a study conducted by Limeade, a consulting firm dedicated to employee well-being, which analyzed the reasons behind the labor force volatility of the last two years. According to Limeade, the top reason workers cite for leaving their previous job (over 40 percent) is burnout. Some workers are taking aRead Full Article Here
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