Remove Deductions Remove Employee Benefits Remove Health Insurance Remove Voluntary Benefits
article thumbnail

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.

article thumbnail

Smallest Firms See Largest Health Insurance Hikes

InterWest Insurance Services

A new report has found that small businesses that purchase their group health insurance online or through payroll vendors saw the largest premium hikes in 2022, significantly higher than those that went through brokers. Gap plans can help by providing coverage when employees have not met their health care deductible.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Besides Health Insurance and 401(k)s, These Are the Benefits Employees Value Most

InterWest Insurance Services

Besides health insurance and a 401(k) plan, other benefits that employees value highly are generous paid time off and flexible or remote work, according to a new survey. Emergency savings plans can help prepare your employees for unexpected expenses — without dipping into retirement funds or using credit cards.

401(k) 98
article thumbnail

What is ancillary health insurance?

Higginbotham

Ancillary health insurance is a secondary type of coverage used to supplement your traditional health insurance. The term “ancillary” means “providing additional help or support,” and that’s just what ancillary health insurance does. Types of Ancillary Benefits. Examples of Ancillary Health Insurance.

article thumbnail

How to offer health insurance as a small business

Higginbotham

Employees don’t work for free. They want to be fairly compensated for their work, and that usually involves both wages and employee benefits. Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile.

article thumbnail

Identify Your Workers’ Needs, Consider Costs before Open Enrollment

InterWest Insurance Services

It’s almost time for group health insurance open enrollment and your top priority should be to drive participation by helping your employees make informed decisions about their options. It’s a balancing act, since each employee has different needs. Get an early start If your plan year starts Jan.

article thumbnail

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.