Employer Benefits

 Typically employer-provided benefits are tax-deductible to the employer and non-taxable to the employee. The  plans are usually funded by both the employees and by the employer(s). The portion paid by employees is deducted from their gross pay before federal and state taxes are applied. 

 Small businesses with fewer than 50 FTE employees are not required to offer health insurance to employees, although many still do. And to reap the tax benefits of offering health insurance, the employer must pay 50% of the employee's premium. However, the cost obligation is not required for the spouse, or children of the employee.   Health is still the number one benefit employees want from their company, and those who are unsatisfied with their benefits are more likely to look for a new job.   

Our company specializes in helping small businesses with 5-50 employees determine what the best options are for their situation. We shop all of the major carriers for plans with the highest benefits, and lowest premiums. Meet with us to get all of your questions answered and help you make the best decision for your specific situation. 

Employers are not required to pay for any of the employees cost for dental and/or vision benefits. However, if you are a small business owner and are not ready to take on the financial obligation of health insurance, dental and vision could be a great way to offer a benefits package to valued employees.. The cost for these plans normally range between $15-$50 a month, and can really go a long way towards employee retention. In addition,  when you are recruiting new talent, you can be the employer that looks more attractive to potential employees because you offer extra benefits that other employers are not offering. 

Small business owners are used to wearing multiple hats in their company to get all the jobs done that require the day to day operations to continue. For the process of enrolling yourself and your valued employees in a benefits package, using a Broker can be a valuable resource, not to mention the time you will save using someone who is well versed in the benefit arena. Here are a few explanations of why a Broker is the route to take when preparing for this endeavor:

1.  Licensed Professional When you work with a Broker, you’re working with someone who meets the state’s regulatory requirements to sell insurance products. You also get someone with the industry knowledge to help you understand the process and the terms associated with employer health insurance benefits.
2. You have a knowledgeable adviser at your disposal. The amount of time you can spend searching for health insurance on your own can be extremely time consuming.  When working with an agent you have a knowledgeable insurance consultant to help you navigate the health insurance waters so you can focus on priority number one: running your company. 
3. Personal Touch  When you go through a company directly, you typically have the phone number and email of your representative. But what you don't have is someone local who can meet with you in person throughout the year, and be readily available to meet with you and/or your employees.