Offering a comprehensive benefits package for your employees is one of the best investments a business owner can make. Providing benefits such as health insurance, life insurance, dental insurance, vision insurance, as well as disability and supplemental insurance shows your employees that you care about their well-being. These types of benefits also often extend to the employee’s family members as well, making them even more desirable to the worker.
Employees derive a considerable amount of job satisfaction from an attractive benefits package, making them less likely to search for employment elsewhere. This reduces the amount of employee turnover, which in turn, saves the employer money.
Certain employee benefits, like health insurance, also help keep employees healthy and happy. A healthy, happy employee experiences fewer sick days, and a higher overall on-time attendance rate. Health insurance plans include options for mental health care, substance abuse treatment, as well as vision and dental care for dependents up to the age of 19. These options add up to healthier employees.Offering group health benefits to your employees can also save both the employer and employee money on taxes. Not only are the premiums paid by the employer tax deductible, but premium payments made by the employee through payroll deductions can be made on a pre-tax basis. This means that not only do employees save money on the overall cost of health insurance, but this also reduces the burden of payroll taxes on the employer.
UBC can help you tailor a unique employee benefits package.
We can even help you sort the jumble of insurance jargon and multitude of options that are presented when selecting an insurance policy.