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. The post What are voluntary benefits?

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. Coverage can often be configured to be compatible with HDHPs using health savings accounts.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Importance of Employee Benefit Package And Why it Matters

HR Digest

A strong employee benefit package can go a long way. Employer benefits package is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. Employee benefits have become an essential part of any competitive compensation package.

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. You can use the following list as a general guidepost if you are considering adding voluntary benefits to your employee offerings.

401(k) 98
article thumbnail

Employee Benefits: The Only Guide You Need

Achievers

The term “employee benefits” is used regularly, but often with a limited, traditional definition in mind. The traditional concept refers to legally mandated benefits plus a few voluntarily added by employers. What are employee benefits? . Employee benefits are non-salary compensation and perks.

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

USI Employee Benefits

HR Lineup

USI is a leading insurance brokerage and consulting firm that specializes in employee benefits. The company offers a wide range of benefits solutions to help organizations of all sizes attract, retain, and engage their employees.