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Flexible Benefit Plans Give Employees More Options

InterWest Insurance Services

Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis. Options can include: Health insurance, Voluntary benefits premiums (like vision and dental), Life insurance, 401(k), and. Flexible spending account.

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16+ types of employee benefits you should consider

Genesis HR Solutions

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Flexible Spending Account (FSA). An HSA can be used only if employees have a qualified High Deductible Health Plan (HDHP).

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Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

Hourly-paid nonexempts are impacted only to the extent of withholding and deductions. Employees’ benefits deductions and allowances (e.g., Savings bonds, United Way, creditor and child support garnishments, deductions for other outside groups and other voluntary deductions. Do nothing. Digging deeper. cash planning).

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Open enrollment checklist for employers

Business Management Daily

Some benefits to consider adding or expanding are: 401K benefits: If your business is not matching contributions, you may want to look into what competing employers are doing in terms of retirement benefits and whether there is room in the budget to offer some level of matching. The IRS sets annual HSA contribution limits.

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What employees expect from benefits packages

Business Management Daily

Medical plans with no or low-cost deductibles. Insurance that is accepted at a greater range of places. The company paying a higher portion of the insurance premium. Organizations also frequently provide employees with free or low-cost life insurance. Flexible employee schedules/work-from-home options.

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Navigating employee benefits: A comprehensive guide for growing businesses

Insperity

Other types of insurance If an employee loses their ability to earn an income on a temporary or permanent basis, certain types of insurance can help protect their families and livelihoods. Disability insurance , provides employees with replacement income and pays for medical bills if they become disabled and are no longer able to work.

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Employee benefits for small businesses

Higginbotham

Disability Insurance and Life Insurance. Health insurance is a key element of any employee benefits package, but small business owners should consider offering other benefits as well. Life insurance is a popular choice. Disability insurance is another popular option. Other Key Benefits.