Is there a place where all your questions can get answered about benefits. I'd like to think so. Think of a question and we will find you an answer. Take these two questions here for example.
What is the best way to offer Insurance Benefits to your employees without breaking the bank? Do your employees feel that they have "no say" in your company’s insurance plans?
There is a positive answer to both of these questions and it is actually quite simple. Whether you have two employees or 1,000, there are different options to fit your companies’ needs. In the insurance world we call it the base and buy up option. What this does is allow the EMPLOYER to pick out two plans or in some cases three and then only pay a certain percentage (minimum 50%) of the "employee only cost" for the base option. Of course the employer can choose to pay more, but this represents Texas law on group benefits. This is a great way to help cut cost while giving your employees the option of buying up to a richer plan!
Another option that you can offer your employees are voluntary options. The voluntary insurance world is truly an untapped benefit. These voluntary products consist of Vision Products, Dental Products, Short and Long Term Disability, and even Term Life.
There are a few different ways to get these products implemented. One of which is to work through an agent who can offer you these products at a group rate. Another way this could be utilized is to go through an Aflac agent. The difference in these two is actually quite simple; going through your agent, these plans can be offered at the Open – Enrollment meeting and are sold as group policies. Selling them as group policies often leads to slightly better benefits. In example it can have a higher guaranteed issue amount for life insurance. This would help your employees who cannot usually get Life Insurance due to some sort of illness or condition the ability to attain a certain amount of Insurance. This vehicle also gives the employees the option of insuring their spouse and/or children. Few voluntary products are portable (meaning you can't take them with you)but with these options, once they leave employment they are.
Aflac actually offers plans that the members can keep for life. Aflac offers a lot of products that actually belong to the employee. Once these products are sold, then it is out of the employers hands, except for payroll deducting. Aflac is a great company and is truly underutilized in the San Antonio area.
To find out more information on offering any of the above benefits to your employees, please visit my web-site at www.foxbenefitsolutions.com or give me a call any time at 210-364-3126.
Thank you again and please check back for more updates on Texas Insurance.
No comments:
Post a Comment