Are you Offering the benefits your employees want? This is how you grow your business, attract talent and stand out from the competition. Understanding your employees’ needs and coverage gaps is the first step.
Employee benefits are, next to salaries, the most important draw to woo an employee to accept a position. As we all know, this benefit has become a big part of labor expense in our budgets. How do we offer good benefits but find a way to save and stay within our budgets?
One way is through Level Funded Benefit plans for small groups. Level Funded plans are medically underwritten health plans through Aetna, Cigna and United. Due to the groups being generally healthy, the monthly premiums can be 15-20% less than fully insured plans. Employers with 10 or more enrolled employees do not even need to answer medical questions. Many Employers are receiving an average of $15,000 of unused claims dollars back at the end of the policy year.