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:
We work with our clients to determine what combination of insurance benefits works best for a manageable cost.
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.
Many of our business clients help their employees find peace of mind by providing insurance.
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.
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.
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.