article thumbnail

Examples of fringe benefits by category

Business Management Daily

High-Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs) : HDHPs have lower premiums but higher deductibles compared to traditional health plans. Deductibles can be paid with tax-advantaged/tax-free spending accounts funded by employees and employers. It’s a touchy subject.

article thumbnail

Navigating employee benefits: A comprehensive guide for growing businesses

Insperity

The financial wellness of your workforce is especially critical given economic conditions, record-high inflation and high levels of household debt, leading many workers struggling to save enough money. In a 401(k) plan, the most common type of retirement plan, employees can save up to a certain amount set by the U.S.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

11 Benefits to Consider Including in Your Employee Total Compensation Statements

COMPackage

Nearly all US companies guarantee access to 401(k) and health insurance. All PTO It will help to add Paid Time Off (PTO) including holidays, sick days, and vacation time in your total comp statements if your staff will access a designated period of paid days off.

401(k) 52
article thumbnail

What is a total compensation statement & how does it provide value?

Genesis HR Solutions

401(k) matching contributions. Insurance, including health, dental, vision, life, disability, etc. Health, dental, and vision insurance. Health Savings Accounts (HSA). Retirement plan contributions (401k). Accrued paid time off (PTO/Vacation time). Commissions. Educational assistance.

401(k) 40
article thumbnail

What employees expect from benefits packages

Business Management Daily

Rather, their employee benefits package puts them together under PTO (paid time off). It also enables an employee to take mental health days without the need to go into reasons for the absence. Generous PTO certainly can excite prospective candidates and existing employees. Health Savings Accounts.

article thumbnail

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. Retirement savings plans – Offering a defined contribution retirement plan, such as a 401(k), can help you stay competitive. Aim for a plan that covers at least 60 percent of employees’ salaries.

Banking 50
article thumbnail

10 Best Employee Benefits Platforms to look out for in 2023

Vantage Circle

5 Source Features Health, dental, and vision insurance Life and disability insurance 401(k) retirement plans Health savings accounts Flexible spending accounts Workers’ compensation insurance Commuter benefits, gym memberships, and mental health assistance. Recording of blackout dates.