How can a group benefits plan help my employees?

So a new employee joins the team. Their job is ultimately to help you, but what about the other way around?

Healthcare is the number one benefit employees look for in a potential employer. In fact, 77% of respondents say they wouldn’t move to a job that didn’t include health benefits. When you provide an employee with quality healthcare, they in turn feel valued and are healthier. This improves workplace happiness. In other words help your employees and in the long run they will help you.

Here are all of the ways in which a group benefits plan will help your employees:

Working for a small company can often feel like working as a contractor. Without security and corporate perks, what is the point? A benefits package can seriously up the culture game for any small startup. With the right benefits, employees can feel like they’re a part of something bigger–even in a company of say, two. Day-to-day, benefits improve the physical and mental health of employees. Research shows that people who are uninsured actually have poorer health and shortened lives. So, what is needed: 

Peace of mind: Not only does a group benefits plan cover medical expenses an employee might otherwise struggle to pay out of pocket, but it provides a sense of security–mentally. If you know your health is taken care of should a worst-case scenario unfold, it’s easier to focus on the stuff that truly matters in your life-day-to-day. Moreover, there’s no financial planning for that dreaded medical emergency. Employees can simply pay their premiums through payroll deductions and know they’re taken care of.

A plan B in the case that a critical illness should prohibit their ability to work: If one of your employees were to suddenly fall ill and no longer be able to work, critical illness insurance in a group benefits plan would help meet the financial burden accompanying that illness. With this insurance, employees can choose to use the funds to pay for medical costs, basic living expenses, or anything else for which they should see fit.

Life insurance to support employees and their families: Group life insurance provides financial support to families of employees in the event of their death. Furthermore, employees are able to simply pay their premiums through payroll deductions. In addition to covering spouses and dependent children in the case of death, most life insurance plans include living benefit provisions–in other words, money-back guarantees or guaranteed returns.

Good overall coverage, at an affordable cost: The group structure of a group benefits plan, renders the cost of such cheaper than an individual plan. It also provides more comprehensive coverage than an individual plan, is more affordable, and has minimal risk. The reason? Mitigating the risk of cost over a large group leads to lower premiums for everyone, meaning less money out of your pocket.

Freedom to control their health care: With a group benefits plan like the Chamber’s Group Plan, employees are actually able to control the back-end of their benefits package as they wish through My-benefits®. This practical self-serve option offers employees personal contact with insurance agents should they have questions about their benefits, claims and much more. They can even submit claims and see when they’re eligible for their next medical check-up!

Interested in learning more about a group benefits plan for your business? Call me or fill out our free quote form.