Employee Benefits Quote Forms
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Employee Benefits Information
As a business, you can provide benefits to your employees. The right employee benefits package shows them you are invested in their health and future. When employees feel supported by their employer through a robust benefits package, they’re more likely to be engaged employees who stay with their current employer. Attracting and retaining top talent in a tight labor market is challenging, but a solid benefits package can help.
To discuss what’s best for your business and needs, contact your Saunders Insurance Agency agent to get started.
Types of Employee Benefits Every Small Business Owner Should Offer
Many small businesses have limited budgets, which can affect the scope of their employee benefits packages. The types of employee benefits that every small business should offer depend on the employee base and whether the employer is subject to federal, state or local insurance requirements.
At Saunders Insurance Agency, we can talk to you about numerous group benefits options, including:
- Group health insurance—This allows employers and employees to share premium costs, which significantly reduces an employee’s personal expense for their essential health insurance benefits.
- Dental insurance—This provides coverage for most preventive care and discounts on other services.
- Vision insurance—This helps individuals maintain healthier eyesight and detect developing problems before they can get worse by helping cover routine care.
- Short/long-term disability insurance—This can help provide employees with income support following a disability that forces them off the job. It differs from workers’ compensation insurance because it applies even when someone gets injured in a nonwork-related accident.
- Group life insurance—A group life insurance plan is a term plan that allows participating employees to enroll in guaranteed-issue coverage. Applicants won’t be denied enrollment just because they have a pre-existing condition.
The benefits package you offer will determine your costs and the fees your employees will pay for their portion of the benefits. To determine what is right for you, contact your agent.
How to Choose the Right Group Insurance Plan for Your Business
Choosing the right group insurance plan for your business is an important decision that can impact your employees and your bottom line. With so many options available, it can be overwhelming to determine which plan is the best fit for your business. Here are some key considerations to keep in mind as you evaluate different group insurance plans:
- Determine your budget—The cost of group insurance plans can vary widely depending on factors such as the level of coverage, the number of employees covered and the location of your business. Establishing a budget for your insurance plan is important to ensure you can afford the premiums in the long term.
- Evaluate coverage options—Different insurance plans may offer varying levels of coverage for different types of benefits, such as medical, dental, vision and life insurance. Consider the needs of your employees and choose a plan that provides comprehensive coverage for the benefits they value most.
- Consider plan flexibility—Some insurance plans offer more flexibility regarding plan design and customization than others. Consider whether you need a plan that can be tailored to your business’s specific needs or whether a standard plan will suffice.
- Think about employee contributions—Depending on the benefits you choose, employees may be required to contribute to the cost of their insurance premiums (e.g., health insurance, dental insurance, and vision insurance). Consider how much you are willing to ask employees to contribute and ensure that the plan you choose is affordable for both
Contact Saunders Insurance Agency agent today for help finding the employee benefits package that best suits your needs and budget.