Selecting the right dental plan can be a challenge for employers. The question for employers is: “How do I provide high quality dental program at premiums that are affordable”.
We work with the leading insurance carriers such as Guardian life to provide our clients with dental products that may be purchased on an employee paid, employer paid, or hybrid basis in which costs are shared between the employer and employee. Our portfolio of solutions includes:
Preferred Provider Organizations
Dental Maintenance Organizations
Buy up plans with a Base and Buy up offering
Our approach is simple: Tailor programs that offer freedom of choice, benefit flexibility, affordability and are easy to administer. Our goal: Introduce programs that successfully:
Provide employees and their families with smile protection against the costs associated with dental care.
Incorporates plan features that promotes in network utilization which lowers overall program costs.
Access to a network of participating dentists who accept payment as “payment in full” less any applicable co-payments and/or deductions.
We have found Guardian Life to be is committed to providing the highest level of service and will work with us to provide the necessary resources and support, which includes employee communications and education, to ensure a smooth and successful introduction of these programs.
Friday, September 18, 2009
I am looking for stats as to what the average business provides for Health care benefits to their employees. (what portion the business pays etc..)
Based on my experiences, both here at SimCo, in consultative small business tax, and payroll sales management over for the last ten years, where I have worked with many: owners, CEOs, CFOs, presidents and HR directors; I would have to say employee benefit packages are dictated by a company’s corporate culture, and the ownership’s philosophies. They are varied and unique to each client. Profitability, and the talent a company looks to attract and retain has a large impact on the benefit packages a company offers to their employees. To that point, many larger clients (100+ EEs) will have multiple benefit packages, all different for the ownership, upper management, and rank & file employees; thus classing their employees not just on major medical insurance, but also on their entire benefit packages. To answer your question regarding range, in reality the range can be vast, from what the minimum requirements are, enforced by the carriers’ themselves, 50% of a single premium, up to 100% employer paid.
The majority of our client’s have the following benefit packages in some shape or form:*Please Note: ER stands for employer and EE is for employee -
· Group major medical health insurance (ER contributions: 50% of a single up to 100% all four tiers paid)
· Group dental (ER contributes a flat dollar amount or % from 50% to 100%)
· Group – short term disability (STD) - (more blue collar clients)
· Group – long term disability (LTD) - (more white collar clients)
· Group – term life (cost effective as an employer group product benefit)
· Group – Accidental Death & Dismemberment (AD&D) – (either as a separate policy or rolled into the employer contributed group voluntary supplemental benefits)
· Group – voluntary supplemental accident & critical illness care (some with AD&D, others not)
· Long Term Care (this product is becoming the most popular future wealth protection tool)
· Section 125 Plans – Premium only plans (POP), Flexible Spending Accounts, Health Savings Accounts, and Health Reimbursement Agreements
· Employee Wellness Services – either onsite wellness programs or reimbursements for gym membership & other healthy living activities.
· Retirement planning - 401(k) most clients have) & Traditional IRA (new companies).
· Continuing post high school education support, either university or technical training, depending on the EE’s role. (reimbursements are grade dependent, C+ or B- typically).
· NYS statutory Disability (required by state law, of course)
· NYS statutory Workers’ Compensation Insurance (required by state law)
· Privately held companies with stock & publically traded companies with stock also have stock option programs where the company will give the employee stock options based off many different criteria (years of service, meeting sales goals, etc., there are matches, and the option to purchase stock at a preferred strike price point for eligible employees.
· From an ownership perspective we see many of our clients purchasing “business continuity insurance” and “buy-sell agreements” for the benefit of the ownership, founders, partners and their families.
· Lastly, on the other end of the spectrum of course, there are many large publically traded organizations, such as Google, IBM, Microsoft, etc that offer employee benefits which we’d all love to have. They are known for offering onsite wellness, gyms to work out in, free cafeterias with healthy breakfast s& lunch choices, stress relief services, corporate discount programs, on campus sports leagues, onsite nurses, and referral services to help find everything from a new home to a babysitter.
Interesting read about the company’s who increased benes to retain their EE’s during tough economic times. One of them is located here in Rochester.
10 best companies with benefits
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090818&ID=10281892&Symbol=PFG
The majority of our client’s have the following benefit packages in some shape or form:*Please Note: ER stands for employer and EE is for employee -
· Group major medical health insurance (ER contributions: 50% of a single up to 100% all four tiers paid)
· Group dental (ER contributes a flat dollar amount or % from 50% to 100%)
· Group – short term disability (STD) - (more blue collar clients)
· Group – long term disability (LTD) - (more white collar clients)
· Group – term life (cost effective as an employer group product benefit)
· Group – Accidental Death & Dismemberment (AD&D) – (either as a separate policy or rolled into the employer contributed group voluntary supplemental benefits)
· Group – voluntary supplemental accident & critical illness care (some with AD&D, others not)
· Long Term Care (this product is becoming the most popular future wealth protection tool)
· Section 125 Plans – Premium only plans (POP), Flexible Spending Accounts, Health Savings Accounts, and Health Reimbursement Agreements
· Employee Wellness Services – either onsite wellness programs or reimbursements for gym membership & other healthy living activities.
· Retirement planning - 401(k) most clients have) & Traditional IRA (new companies).
· Continuing post high school education support, either university or technical training, depending on the EE’s role. (reimbursements are grade dependent, C+ or B- typically).
· NYS statutory Disability (required by state law, of course)
· NYS statutory Workers’ Compensation Insurance (required by state law)
· Privately held companies with stock & publically traded companies with stock also have stock option programs where the company will give the employee stock options based off many different criteria (years of service, meeting sales goals, etc., there are matches, and the option to purchase stock at a preferred strike price point for eligible employees.
· From an ownership perspective we see many of our clients purchasing “business continuity insurance” and “buy-sell agreements” for the benefit of the ownership, founders, partners and their families.
· Lastly, on the other end of the spectrum of course, there are many large publically traded organizations, such as Google, IBM, Microsoft, etc that offer employee benefits which we’d all love to have. They are known for offering onsite wellness, gyms to work out in, free cafeterias with healthy breakfast s& lunch choices, stress relief services, corporate discount programs, on campus sports leagues, onsite nurses, and referral services to help find everything from a new home to a babysitter.
Interesting read about the company’s who increased benes to retain their EE’s during tough economic times. One of them is located here in Rochester.
10 best companies with benefits
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090818&ID=10281892&Symbol=PFG