- Providing world class service and value for employee benefit group plans since 1987
Navigating the world of employee benefit packages Savannah GA can be a complex task, especially when understanding the range of options available to employees in Savannah, GA. However, the importance of employee benefits cannot be understated, as they play a pivotal role in attracting and retaining top talent. In this blog post, we will explore the various types of employee benefits offered in Savannah, GA, and discuss their significance in creating a competitive and comprehensive benefits package.
Savannah, GA, boasts a competitive job market with diverse employee benefits packages. These include:
These benefits are created to entice skilled professionals and provide support for employees and their families. For example, the City of Savannah’s benefits department provides a comprehensive benefits package to eligible others consisting of medical, dental, and vision coverage to eligible others, along with flexible spending accounts, short-term disability, and life insurance to eligible others. Similarly, the Georgia Ports Authority offers full retirement benefits to its employees from their commencement date.
New employees must be mindful of enrollment deadlines to take advantage of these benefits. In Savannah, GA, eligible employees must enroll in their chosen benefit plans within 30 days of their new hire due date of hire. The city even offers a GPA Savannah Benefits App, which provides complimentary telemedicine treatment for minor and episodic medical issues, making healthcare more accessible for the city and its employees.
Health insurance is a core component of any employee benefits package, and Savannah, GA, offers a variety of options to suit the diverse needs of its workforce. The Georgia Ports Authority, for example, provides eligible employees with a self-insured Group Medical Plan with cost-effective premiums and two medical PPO networks, St. Joseph’s/Candler Health System and First Health, based on the employee’s area of residence. The Georgia State Health Benefit Plan (SHBP) also plays a critical role in establishing policies and premiums for the entire state, including coverage for employees and their family members.
Employees can expect their medical plan and life insurance coverage to commence 30 days after their date of employment, providing protection for themselves and their families. Savannah Chatham County Public Schools (SCCPSS) also contributes a significant amount to the medical plan coverage for employees enrolled in the State Health Benefit Plan, further enhancing the comprehensive nature of these benefits.
Employers in Savannah, GA, must ensure their health insurance plans comply with the Affordable Care Act (ACA). By familiarizing themselves with the ACA requirements and collaborating with experienced insurance brokers, employers can guarantee compliance with the law, avoid potential penalties, keep premiums, and provide the best possible coverage options for their employees.
Besides health insurance, dental, vision, and life insurance coverage are also available to employees hired in Savannah, GA. These additional insurance options provide a well-rounded benefits package, ensuring employees have access to comprehensive coverage for their varying needs. Dental and vision coverage typically commences 30 days following the hire date between the employee’s new hire due date and the first of the following month.
Life insurance policies, on the other hand, offer financial security for employees’ families in the event of their passing, with an upper limit of $500,000 in additional coverage available. This type of coverage is especially important for those with dependents, as it can provide much-needed financial support during a difficult time.
Dental insurance plans in Savannah, GA, offer a range of coverage and treatment options, from preventive services like cleanings and exams to basic services such as fillings and extractions, and major services like crowns and root canals. However, reviewing each dental plan to determine that’s specific inclusions and exclusions is necessary, as coverage may differ and some procedures, like cosmetic treatments, might not be covered or included.
Vision and dental insurance plans in Savannah, GA, provide coverage for eye exams, prescription eyeglasses, and contact lenses. The Standard’s plan, sponsored by the City of Savannah, offers clients covered by a typical vision insurance dental plan option with a monthly cost of approximately $15 for individual coverage.
Employees should evaluate their specific vision needs and seek advice from their employer to choose the most suitable vision and dental insurance and plan.
Life insurance policies in the city of Savannah, GA, offer various coverage options, including term life insurance, whole life insurance, and group life insurance. These policies provide a financial and medical safety net for an individual’s family in the event of their passing, paying out a lump sum to determine the policyholder’s beneficiaries.
To be eligible employees qualify for life insurance, eligible employees usually need to meet certain requirements imposed by the insurance provider or employer, which may include providing information about a family member.
Retirement benefits are a key tool in assisting employees in Savannah, GA, to plan for their future. These benefits include various retirement plans and employer contributions, providing financial security for employees as they transition into retirement. PSERS of Georgia offers coverage for certain employees. These include non-supervisory staff who work in Maintenance, Custodial and Food Service functions..
Other retirement plans offered by employers in Savannah, GA, include:
These plans provide employees with a range of investment options and opportunities for employer contributions to help ensure a secure retirement.
Retirement plans offer employees a range of investment options, allowing them to tailor their retirement savings strategy to their specific needs and goals. Enrolling in a retirement plan allows employees to enjoy tax-deferred growth on their investments and potential employer contributions, thereby augmenting their retirement savings.
Employers in Savannah, GA, bolster their employees’ retirement savings in several ways, such as:
These contributions not only encourage the employer, company and employees to save for their future but the contribution can also provide significant tax advantages for both the employee and the employer.
Flexible spending accounts (FSAs) and long-term disability coverage provide additional financial support for employees in Savannah, GA. FSAs enable employees to allocate pre-tax dollars for qualified expenses, such as insurance deductibles, co-pays, and prescription medications. Long-term disability insurance, on the other hand, offers income protection for employees who are unable to work for an extended period due to illness or injury.
Both FSAs and long-term disability coverage can greatly benefit employees by providing financial relief during challenging times. The Georgia Ports Authority, for example, pays the full cost of long-term disability for its employees, further demonstrating the value of these benefits.
Flexible spending accounts (FSAs) offer numerous benefits to employees in Savannah, GA, including tax savings, coverage for healthcare expenses, and the possibility of carrying over unused funds to the subsequent year.
By utilizing an FSA, employees can set aside pre-tax dollars for eligible expenses, such as medical equipment, supplies, and diagnostic devices, allowing them to better manage their health care costs.
Long-term disability insurance provides income replacement for employees who are unable to work due to an illness or injury, generally covering approximately 60% of their pre-disability earnings up to a the employer- set maximum benefit limit. The duration of the benefits may vary depending on the employer and policy, but it generally provides income for a number of years.
To be eligible to qualify for long-term disability benefits, employees must fulfill specific conditions and present proof and medical, of their disability and medical such.
Employee assistance programs (EAPs) in Savannah, GA, provide valuable support and resources for employees facing personal or work-related challenges. An employee assistance program offers a range of services, including:
EAPs significantly contribute to promoting employee well-being and productivity, while also nurturing a positive work environment. By providing access to counseling services and support for personal and work-related issues, EAPs can help reduce absenteeism, address and resolve personal issues that may affect job performance, and improve employee satisfaction and retention.
Open enrollment periods and benefit plan selection guidance play an important role in helping employees navigate their benefit options. During open enrollment, employees have the opportunity to review and make changes to their benefit selections, such as enrolling in a new health plan or transitioning to a different plan. In the city of Savannah, GA, the city the customary open enrollment period for employee benefits is from the date of October 1st to the date of November 15th annually.
To optimize their benefit options, employees should consult human resources professionals or benefits administrators, who can clarify the assortment of benefits and assist in selecting the most suitable options for their needs. By staying informed and actively participating in the open enrollment process, employees can ensure they are making the most of their employee benefits.
Open enrollment periods are an essential time for employees to review their benefit options and make any necessary changes. During this time, employees can enroll in new plans, add or remove dependents from their plans, and modify their coverage options.
Being proactive and active during open enrollment enables employees to optimize their benefits and choose the most suitable options for their needs.
Choosing the right benefits is key for employees to extract the most value from their benefits packages. Human resources professionals play a significant role in helping employees make informed decisions about their benefit offerings. This can be done through:
Collaborating with company human resources and benefits department by utilizing available resources can help employees hired choose to hire the company with most suitable benefits for their needs.
Human resources support and benefit administration are essential in ensuring employees have access to the information and assistance they need to make the most of their benefits packages. HR professionals can help employees with:
Besides offering support and guidance, human resources professionals also:
In conclusion, employee benefits in Savannah, GA, play a critical role in attracting and retaining top talent, as well as ensuring the well-being and satisfaction of employees. From full health care, insurance and additional coverage options to retirement benefits, flexible spending accounts, and other employee assistance program programs, Savannah offers a wide array of benefits to meet the diverse needs of its workforce. By actively engaging with human resources support and benefit administration, employees can make the most of their benefits packages and enjoy a brighter future.
Employee benefits packages typically include health care coverage, retirement plans, paid time off, COBRA, FMLA and other mandatory benefits, as well as state-mandated disability pay, workers comp and additional leave.
For a 35-hour work week, employee benefits typically cost around $1,997.36 for civilian workers, $1,798.69 for private industry workers, and $3,322.87 for state and local government workers. Health insurance takes up 8.3% of an employee’s total salary and typical benefits for a $50,000 salaried employee include life insurance ($150) and health coverage ($2,000-$3,000 for single persons; $6,000-$7,2000 for families). Companies typically spend $50-$200/month per employee on benefits.
Employee benefits packages commonly include health insurance premiums, stock options and medical insurance premiums. These extra benefits are provided in addition pay to salaries and wages for employees.
Health, dental, and vision insurance coverage typically begins for employees hired in Savannah, GA 30 days after the date they are employed.
Savannah, GA employers typically offer a variety of retirement plans, such as Deferred Compensation 457 plans, 401(k)s, defined benefit plans, profit-sharing plans, SEP IRAs, and SIMPLE IRAs.
Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
We’re ready to help! Call today: 800-903-6066