Remove Benefits Package Remove Deductions Remove Taxes Remove Voluntary Benefits
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What are voluntary benefits?

WEX Inc.

Voluntary benefits give employees the opportunity to further customize their benefits package to meet their personal needs. And they serve as an excellent cost-effective recruitment and retention tool for employers as they look for ways to improve their benefits offerings.

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Flexible Benefit Plans Give Employees More Options

InterWest Insurance Services

One way you can give your staff more choice in the employee benefits they receive is to offer them a cafeteria plan, which allows them to put together a benefits package that works best for them. Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis.

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What’s the hottest, zero cost benefit in Employee Benefit planning today?

CorpStrat

Voluntary Benefits. Voluntary Benefits, commonly referred to as AFLAC, can help employees maintain their income by paying cash benefits directly to them. Employees can use these cash benefits to help cover rent, groceries, and other daily living expenses while they’re out of work.

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5 Tools for Creating the Near Perfect Open Enrollment Process

CorpStrat

Be sure to clearly explain the deductions that employees will make from their paychecks. How frequently it will happen and that they’re pre-tax so they know they’re getting more bang for their buck. Offer Voluntary Benefits. Be sure you build a comprehensive overview of your entire benefits package.

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How to offer health insurance as a small business

Higginbotham

Although it may seem easier to boost wages and forget about employee benefits, due to potential tax breaks, offering health insurance can be a financially sound strategy. A benefits package can also boost your company’s bottom line by supporting a healthy workforce. A SHOP-registered insurance agent can help you enroll.

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Workers’ compensation vs disability insurance

Higginbotham

Eligibility for Social Security Disability Insurance benefits is based on work history and payment of payroll taxes. Group disability insurance benefits are provided by employers, often on a voluntary basis. The employer may pay for the premiums, or the employee may pay, often via payroll deductions.

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7 Employee Benefit Trends that are Set to Dominate in 2024

Empuls

  Offer alternative healthcare plans , such as high-deductible health plans (HDHPs) paired with health savings accounts (HSAs). These plans often provide employees with more control over their healthcare expenses and offer tax advantages.