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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. Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside.

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4 Life Hacks to Extend the Value of Your Benefits

Benefit Resource Inc.

We are all faced with choices every day which can lead you to save time or money. You might plan for retirement by contributing to a 401k plan. Use paid time (and personal savings) for a relaxing vacation. Take out a life insurance policy for added peace of mind.

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Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

Best practice: List all benefits and deductions to determine whether they’re impacted: Medical, dental, life, vision, group-term life insurance, long-term disability, dependent care, flexible spending accounts and health savings accounts. In addition, 401(k) nondiscrimination testing may be affected.

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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. Make any necessary additions.

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5 Steps to Building an Employee Benefits Program That Won’t Break the Bank

Insperity

However, some businesses offset this cost to their employees by contributing money to health savings accounts. Life insurance – Providing life insurance protects employees’ families by paying a specified amount to employees’ beneficiaries in the event of death.

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Creating a comprehensive benefits package to attract and retain top talent

PeopleStrategy

In addition to meaningful health coverage, it’s wise to have vision and dental insurance as part of this category. Other options such as flexible spending accounts (FSA), health reimbursement accounts (HRA) and health savings accounts (HSA) can also help employees manage the financial costs of medical care.

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What employees expect from benefits packages

Business Management Daily

Organizations also frequently provide employees with free or low-cost life insurance. Large and small businesses alike benefit from sponsoring plans such as 401(K)s and Simple IRAs. These allow employees to save for their golden years while enjoying tax benefits now. Health Savings Accounts.