Why Group Benefits are More Than Just Health Insurance

Why Group Benefits are More Than Just Health Insurance

Please take a look at group benefits, you may think health insurance only. However, your employees expect more than just health insurance, which means that you need to plan on offering more than just this. There are plenty of group benefits available, so you simply have to take the time to explore what you can offer.

The Options

Above and beyond health insurance, there are various other insurance options that you can add to group benefits. This includes:

  • Vision
  • Dental
  • Disability
  • Life

What you ultimately end up offering your employees is entirely up to you. Many people in today’s workforce look at group benefits more than salary. This means that you need to consider how offering a more comprehensive benefits package will help you to secure higher quality employees.

What you don’t offer your employees would mean that if they want this type of insurance, they would have to get it on their own. This could end up costing them more money. In the end, it’s only a small expense for you considering that your employees are going to be paying the premiums. Offering a little something extra for your employees could be what sets you apart from all the other employers out there, which allows you to be more competitive.

The Needs of Your Employees

It’s important to stop and look at the needs of your employees. Every industry and every employer is a little different. If the majority of your employees are under the age of 25, they may not be thinking about disability and life insurance at this point in time. This means it may not be necessary for you to include within your group benefits. However, if most of your employees are over the age of 25 or are professional and focused on the big picture, you may want to offer a few extra policies that they can choose from.

If you’re not sure what your employees want, take the time to ask them. Schedule a few sessions where you have the opportunity to talk with everyone. Discuss the group benefits that you are looking at and determine what everyone wants. Go with the general consensus – and when people know that their opinions have been heard, they will be more likely to stay with your company.

It’s not always easy to sort through group benefits. When you thought it was just health insurance, choosing insurance policies can be challenging. You have HMO, PPO, health savings accounts, and more – and this is only within health insurance. As you start to explore vision, dental, and other policies, they are even more choices to be made.

Rather than trying to do everything on your own, researching insurance, and potentially making the wrong decision, you can work with an independent insurance agent. This will allow you to learn more about your options and get recommendations from someone who is experienced within the insurance industry.