Although health insurance isn’t considered a required employee benefit, it’s something that businesses should be offering if they want to attract the best talent. The high cost of health insurance makes good healthcare benefits something highly desirable in the modern job market. In this blog, we’ll break down some steps you can take if you’re an employer looking for the right benefits package for your employees.
Low-Cost Options
If you don’t have the revenue to offer a top-of-the-line benefits package yet, there are some options out there. The two best places to start are high-deductible plans and Professional Employer Organizations. Let’s take a look at each.
High-deductible plans - High-deductible health plans will cost your company less in premiums, but it puts more of a financial burden on employees. However, you could make this option much more attractive if you choose a high-deductible health plan with a health savings account option. A health savings account lets employees put aside pre-tax money for health expenses.
Professional Employer Organization - A Professional Employer Organization, or PEO, is another option. A Professional Employer Organization lets you outsource HR tasks when your company doesn’t have the resources for them. They also typically have deals with health providers that can save you money on quality health benefits packages. This means putting part of your business in external hands, but a quality PEO can help you run your business better and offer better benefits.
Traditional Options
Of course, if you have the revenue, you could always go the more traditional route and go through a benefits provider. With a good healthcare plan, you’ll be able to bring in top-tier employees and retain them. Make sure to choose a package that’s right for your company and weigh your options to ensure you’re getting the best terms. Find the new hire benefit enrollment software by visiting this website.
Use New Hire Benefit Enrollment Software
Once you have your health plans in place, ensure that it’s easy for your employees to sign up and enroll. With new hire benefit enrollment software, you can help make the process much easier and get your new hires signed up right away.
Read a similar article about HR workforce reports here at this page.