Employee Benefits
Offering Group Plans for Businesses Throughout Southern Wisconsin
Aside from base salary, a good way to compensate employees is by offering employee benefits such as health, life, and disability insurance. These types of insurance protect employees and their families from financial hardships due to sickness, disability, and death. The employer also profits as benefits can:
- Attract and keep talent.
- Reduce staff turnover costs.
- Encourage prompt healthcare.
- Lower employee stress.
- Result in tax benefits.
We work with our clients to determine what combination of insurance benefits works best for a manageable cost.
What Insurance Should and Could an Employer Offer?
The government mandates some types of employee benefits for certain businesses. Unemployment insurance, Family Medical Leave Act (FMLA) benefits, workers compensation, and social security are a few such benefits. In addition, these days an employer’s obligation to contribute to an employee’s health insurance is getting a lot of press. The Affordable Care Act (“Obamacare”) requires a business with fifty or more employees to either offer health insurance or contribute money if the government subsidizes the employee’s healthcare insurance costs.
Even when employers are not required to provide insurance benefits to their employees, many do or at least subsidize a portion of the employee’s cost. They know employees, like all of us, worry about the “what ifs” in life.
- What if I get sick or become disabled and can’t work?
- How will I manage without income?
- What if I die?
- How can I protect my family from financial problems?
- What if the insurance I bought on my own or through an organization isn’t enough?
Many of our business clients help their employees find peace of mind by providing insurance.
Rely on Krell Insurance to Design an Affordable, Attractive Employee Benefits Plan
There is no “one size fits all” benefits plan a business should offer. Each business is unique. Employers have many options, and coverage, premiums, and deductibles vary. Krell Insurance can help you design a benefits plan that helps you and your employees.
- Health insurance - Often employers can get more advantageous rates on health insurance than employees can get on their own. Health insurance plans come in all shapes and sizes. Some cover expenses due to injury or illness, while others extend to well care. Insurance is available to cover dental and vision. Some plans only cover treatment by network providers. Others allow more choice. Still other businesses offer healthcare savings accounts.
- Disability insurance - Life is unpredictable. Even the healthiest employee can become temporarily or permanently disabled. If this happens, the employee must focus on coping, not worrying about the loss of salary. Short- and long-term disability insurance provides all or part of an employee’s salary if an employee is unable to work. Some employers pay the entire premium, while others subsidize the employee’s cost. Sometimes an employer provides a basic level of insurance, but employees may increase coverage at their own expense.
- Life insurance - Financial distress compounds grief. When businesses offer life insurance as a benefit, employees sleep better knowing that when they die, their family will be financially secure.
The best employee benefits plans address the unique attributes of your business and your particular staff. Their salary, family situation, age, health, and career stage are but a few considerations. While you know your staff, sifting through and comparing all that the marketplace offers is time consuming and confusing.
As independent agents, the Krell Insurance staff works with several financially sound insurance companies. They attend training and know what your competition offers to its employees. We are in a good position to help you choose a combination of benefits that will pay off for you and your employees.
Contact Us
Offering insurance to your employees will help you attract and retain good staff and contribute to office morale. Stop by and see us at 209 S. Main Street in downtown Verona, Wisconsin, or call us at 608-845-2666.