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Companies Getting Benefits Right

There are some companies who’ve clearly thought about their benefits packages.

They are usually the businesses you’ll see receiving rave reviews from their employees and topping lists of best places to work.

Here are a few businesses — of all sizes, covering a wide variety of industries — that seem to be getting it right when it comes to offering benefits.

Radio Flyer

There’s a reason this toy-wagon maker has been going for almost a century. It attracts and retains employees with a wide range of great benefits like flexible working and generous maternity leave as well as some fun perks like free fitness classes.

Facebook

Facebook’s employee benefits are widely praised, even those they offer interns. They provide interns with a competitive benefits package which includes health care coverage and free housing.

PPR Talent Management

Sta at this recruiting firm benefit from unlimited paid time off, as well as salary continuation up to four weeks for personal sickness, disability, injury or medical leave.

Etsy

Etsy came in 6th on the 2015 Great Places to Work medium company list. Staff enjoy a great mix of quirky and practical benefits — from dog-friendly o ices (their employee directory even has a page dedicated to employees’ dogs!) to paid sabbaticals, blood pressure screening and 100% employer-paid standard medical and dental plans for both employees and their dependents.

Insomniac Games

Following in the footsteps of tech giants like Google and Facebook, this gaming company uses a range of unusual perks to keep its employees happy. On-site massage therapy, free lunches, fitness classes, car washes and dry cleaning services are all offered.

Snagajob

The company benefits are surely one of the reasons why a massive 97% of employees at Snagajob say they feel proud to work there. In addition to three free days of backup childcare a year, workers are matched up to 6% in their 401(k) plans.

 

We’d love to help you create an amazing benefit plan for your staff.

 

Highest regards,

Stacia

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Communicate Your Benefits Effectively

For employees, understanding their benefits can be intimidating. It takes a whole lot of math – probabilities, prices, copays and deductibles — not to mention trying to weigh up the other options outside of what their employer o ers. So what do they really need to know? And how can you help?

 

Make sure staff know the value of their benefits

To get the credit you deserve for sta benefits, you need to communicate effectively about what you’re offering.

 

Not many people could accurately tell you what their health care package costs their employer. Not many know that, on average, their benefits package makes up just under a third of their compensation (31.7%).29 The better employees understand the value of their benefits, the more likely they are to judge their employer as a good place to work.

 

Help people get the most out of their benefits

Most employees don’t feel informed. They don’t feel comfortable making decisions about their benefits. It’s especially a problem for people with lower household incomes. And that means they don’t make the most out of the benefits offered to them.

 

Giving people reading material doesn’t work unless they’re already engaged and enthusiastic. More likely, that email will be deleted, or the booklet will end up forgotten under a pile of paperwork. Combining these methods with more direct benefits communication is usually the most effective option.

 

Keep your staff informed. Do your employees know the value of their benefits?

 

Highest regards,

Stacia

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Colonial Life, The BeneChoice Companies, Stacia Robinson, insurance, education, community, contribution, employer, employee, benefit, benefits, benefit administration, benefit administrator, life, health, accident, long term disability, workers compensation, planning, The BeneChoice Companies, workplace, employees, turnover, benefits, insurance, turnover, Stacia Robinson, Montgomery, AL, Colonial, accidental, voluntary

What Is Your Retirement Plan?

A good retirement plan can be the difference between a comfortable old age and slipping into poverty – yet one in four U.S. working adults has no retirement savings.

 

More and more employees are looking ahead and wondering what their future holds. Less than half of workers are confident they’ll be able to retire when they want.

 

48% of millennials expect their 401(k), 403(b) or IRAs to be their primary source of retirement income.

 

Workplace retirement plans are the major way that people save successfully. Without a workplace retirement plan, fewer than 10% of workers contribute to retirement savings on their own.  It’s not just older workers who care about retirement.

 

90% of millennials and Generation X employees and 87% of baby boomers all believe that a 401(k) plan is an important employee benefit.

Government assistance and tax credits

According to the IRS, small businesses may be able to claim a tax credit for some of the costs of starting a retirement plan if:

  • You had 100 or fewer employees who received at least $5,000 in compensation from you for the preceding year.
  • You had at least one plan participant who was a non-highly compensated employee.
  • In the three tax years before the first year you’re eligible for the credit, your employees weren’t substantially the same employees who received contributions or accrued benefits in another plan sponsored by you, a member of a controlled group that includes you, or a predecessor of either.

 

Take a look at the IRS website or talk with your tax advisor for full details.

Highest regards,

 

Stacia

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Do You Offer Paid Parental Leave?

Parental leave has been a hot topic in the United States in recent years with the federal government starting to offer paid parental leave and San Francisco becoming the first U.S. city to mandate full paid parental leave in Spring 2016.

 

However, only a minority of America’s workers have dedicated paid parental leave according to the the Paid Family and Medical Leave Fact Sheet produced by the United States Department of Labor.

 

Most have to patch together different types of paid leave if they want any time to recover from childbirth and bond with their children. It means that even if they do come back to work, they’ll be struggling to manage parenthood without any sick leave or vacation time remaining, which isn’t healthy for them or your company.

 

While offering paid parental leave may not be right for every business – and small businesses in particular understandably have concerns over the cost implications – it is worth weighing the pros and cons carefully.

 

If you make paid maternity available, it’s more likely that a mother will come back to her job after the birth of her child, according to the Office of Management and Budget of the US Government, saving you recruitment and training costs down that line. In addition, if moms are returning to work soon after their child is born due  to financial pressures, there is a risk that they’ll be distracted and less productive. Offering some paid leave could help ensure that whey they do return, they are fit for work and at their most productive.

 

And it’s not just for mothers.

 

All parents benefit from time off to bond with their child. It can lead to better health for the child, a better family life, reduced stress and increased happiness and productivity.

 

Highest regards,

Stacia

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Do You Offer Paid Leave For Employees?

“How much paid leave will I get?” is a common question of people considering joining your company.

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Part of the perks employees are looking for when they join a company or are considering staying with an organization – is paid leave, or paid time off.

 

In most cases, companies are not obligated to offer employees paid leave, but many long-term and full-time employees feel entitled to their 10 days a year – not to mention all national holidays (such as Thanksgiving, Christmas and other federal holidays). They wouldn’t and don’t think how expensive paid leave is to an organization.

 

So what does an employer do? To keep good people, you have to offer paid leave – but it can be hard to find the money to do so, especially if you are a small company.  Fortunately, there are a couple of strategies we can recommend that can make paid leave less expensive.

 

Paid Time Off Plans

 

Instead of splitting leave into sick days, personal days and vacation days, some companies put it all into one bucket under the name paid time off (PTO). This has two benefits: it cuts down on administration, and it means that employees may be happy with less leave, since a PTO package gives them more flexibility of choosing when they are at work and when they are not.

 

Unscheduled Leave Reduction

 

While all paid leave is expensive to an organization, unscheduled leave has the biggest impact. Unscheduled leave affects all team members, with other scrambling to pick up the slack of the person absent. It can mean missed deadlines and even lost clients.  That is why many companies have an incentive plan to reduce unscheduled leave.

 

We want to make sure you know some of your options so that you can effectively communicate this to employees and offer an attractive package to your staff without too much impact on your business operations.

Highest regards,

Stacia

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Protecting Our Families

Most employees want to feel sure that if something happened to them their loved ones would still have financial stability. And yet many people don’t prioritize having sufficient coverage in place, and 2 in 5 people don’t have any life insurance in place according to Life Happens, 2016 Insurance Barometer Study, 2016.

 

This is just scary. Look around at work. Yes, right now. Look to your left and look to your right and identify 5 people. Two of those five people don’t have any life insurance and their families would be left to cover funeral costs, and figure out how to replace your co-worker’s wages if something were to happen to them. If you work in an insurance office like I do, go talk to those 5 people and ensure they are all covered for their families sake.

 

Life insurance is for the survivors. It usually brings them great peace and comfort knowing they have a little bit of financial stability – at least for a little bit.

 

Life insurance is one of those things people procrastinate about. They know they need it — but there are other pressing bills to pay, and other things to think about, and somehow it never ends up at the top of the list.

 

On top of that, there’s the question of how much to buy.

 

For both of these reasons, it’s a great thing to o er as part

of a workplace benefits package as it provides an easy route for employees to get insurance. With a small, straightforward selection of policies to choose from, employees can more easily decide which one is the right choice for them.

 

30% of Americans admit they know they need more life insurance. Factors like cost make them put off buying it according to LIMRA, 2015 Life Insurance Awareness Month, Sept. 2015.

 

Highest regards,

Stacia

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Hospitals Are Expensive

Hospital Visits Can Bring Financial Worry To Employees

We all know that a trip to the doctor or running a medical test without insurance can be costly. Imagine the cost of being hospitalized for days, or expensive testing to know what is really wrong. The cost of insurance allows you and your team to stay focused on the work at hand when life is happening elsewhere. Life always happens.

 

Since the Affordable Care Act altered the health insurance landscape, companies have been focusing more than ever on benefits that cover the areas where traditional health insurance often falls short. One of those areas is hospitalization costs.

 

The average health-plan deductible has more than doubled in the past decade — increasing from $584 in 2006 to $1,318 in 2015 according to the The Kaiser Family Foundation, Employer Health Benefits Survey, 2015.  

 

Hospital indemnity insurance can be an important way to help employees bridge this gap.

 

Fewer worries, higher productivity

When employees have financial worries, it draws their attention away from their work.

1 in 5 employees report that issues with personal finances have been a distraction at work according to PricewaterhouseCoopers, Employee Financial Wellness Survey, April 2015.

 

Think of all the little worries that come with the prospect of a hospital visit. “That test is so expensive — do I really need it? How will I pay for my next doctor’s appointment?”

Hospital indemnity insurance can help alleviate those worries.

 

Employees can use this type of insurance to help cover the cost of high deductibles, co-pays and other out-of-pocket expenses for:

  • Hospital stays
  • Surgeries
  • Diagnostic tests
  • Emergency room tests
  • Other hospital expenses

 

Keeping your employees focused at work will be way less costly to your organization than them not being there. Plus offering solutions to rising medical costs, like hospital indemnity insurance, is a way to show you care for those that work for you.

 

Highest regards,

 

Stacia

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Colonial Life, The BeneChoice Companies, Stacia Robinson, insurance, education, community, contribution, employer, employee, benefit, benefits, benefit administration, benefit administrator, life, health, accident, long term disability, workers compensation, planning, The BeneChoice Companies, workplace, employees, turnover, benefits, insurance, turnover, Stacia Robinson, Montgomery, AL, Colonial, accidental, voluntary

Have the Ability, with Disability Insurance

“Life happens”, the short saying you use when something unplanned or accidental happens.

 

Sometimes we are lucky enough to only have to reschedule minor plans. However, other times we are not so lucky and when “life happens”; we need to be prepared.

 

Disability insurance can help your employees keep one of their most important assets protected, their income. When that unexpected injury, childbirth, or illness occurs, it can hinder their ability to make ends meet for themselves and their families.

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  • Something most people don’t think about is just over one in four of today’s twenty year olds will be disabled before reaching the age of sixty-seven.

 

  • Even more shocking, is that some of the most common disabilities are not covered by workman’s compensation.

 

  • These disabilities include cancer (16%), back disorders (excluding injury) (13%), injuries (12%), cardiovascular (9%), and joint disorders (9%); as you can see these are very common disorders that several people are affected by.

 

In today’s world of ever growing technology comes higher prices for medical care. These troubling times can be less stressful with the help of a disability insurance plan.  Let that sink in. Surely, you want to give your employees and their families protection against the inevitable. You’re probably wondering, how do I achieve this? How does this work without breaking a budget?

 

You have options, from a short term plan that allows you to pay a little at a time for a period of several weeks, to long term coverage for several months to several years. Either way, you can’t really go wrong!

 

These plans work together, with flexible coverage for you and your employees, when disability lingers, have the piece of mind so you and your employees can focus on what’s important. Which shouldn’t be if you have the coverage, or can afford what workman’s compensation won’t cover.

 

Extra protection for your company and employees, that will save you both money in the end.

Warm regards,

Stacia

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“Brace” Yourself! A Great Addition to Your Benefits Package

Brace Yourself! Picture this: you wake up early on a bright, sunny Tuesday morning, you go to the kitchen and brew your daily cup of coffee and pop some bread in the toaster. You turn on the morning news as you do every other morning, and you sit at the table as you wait for your coffee and toast. Then you notice a strong, sharp ache in your tooth. You take some ibuprofen and hope with all your heart that it goes away, are at least becomes a duller pain, but sure enough, it doesn’t. You still go to work and carry on with your day, but you’re absolutely miserable. Your toothache seems to make everything hurt.

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You don’t want to make an appointment because it’s so ridiculously expensive.

 

Then you remember, your work has a dental insurance plan that would cover your appointment. You call and make an appointment with your dentist right away, and he can get you in. You’re so happy, and you think how you wouldn’t be able to afford an appointment if your work didn’t cover you.

 

So many people don’t have the luxury of being covered by a dental insurance plan, which forces them to overlook their dental issues. There are so many people that are quick to overlook a tooth ache and call it a minor issue, when in all reality, dental hygiene or a lack of it, has been a proven contributor of diabetes, heart disease and blindness. With this realization, many companies are beginning to offer dental coverage as part of their benefits package. In fact, ninety-six percent of employers are offering this kind of coverage to their employees, and it’s becoming a huge factor when people are considering careers.

 

As an employer, you most likely offer sick leave or a similar type of coverage, so your employees are able to get better faster and miss less work.

 

Having a dental insurance plan added to your benefits package is the same concept. With the amount of conditions linked to dental problems, your employees could miss more days than they need to because a dental package could have prevented all of it. Not good for you, not good for your employees. By covering procedures like root canals, routine cleanings, and crowns, you can save yourself and employees a lot of money with flexible plans and family coverage options.

 

What are you waiting for? Don’t miss out on a great candidate and more opportunities. Get your dental coverage package today!

Warm regards,

 

Stacia

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Coverage So Good It Looks Like an Accident

Let’s face it, accidents happen, they are an inevitable part of everyday life.

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The fact that accidents happen at all, is just plain stressful.

 

Let’s ask some important questions:

 

  1. What do you do when an accident happens?
  2. Do you have the coverage for yourself and your employees?

 

If you don’t have coverage for accidents included in your benefits package that could be detrimental to your business.

 

The most troubling part about an accident, is the unplanned factor. Which can send your employees out of work for days or weeks on end. Added to that, when hospital bills and other medical expenses are incorporated, it can quickly become overwhelming and seem like there is no hope, especially if the employee is unable to work.

 

This is where accident coverage comes in handy, extra expenses are covered and your employee can focus on getting better faster. Saving you time and money.

 

Almost forty million Americans sought medical help in 2014 for poisoning and injury. You might be thinking, you don’t need accident coverage for your employees because of the work safety policies you have in authority, but almost forty-nine percent of those forty million accidents happened at home.

What’s even more shocking, is that most people don’t have finances or a plan to cover those expenses.

 

Accidental coverage plans can help offset these expenses, along with provide coverage for initial care, transportation, surgery and follow up care your employees may need. Especially when the cost of medical care, not to mention urgent or after hours care,  has skyrocketed and is only going to continue to do so.

 

You can’t put a price on piece of mind that your protected for the inevitable.  So do yourself, and your employees a huge favor, help life go right by getting them the accidental coverage they and their families need.

Warm regards,

 

Stacia