A 2015 Glassdoor survey noted that 79% of employees prefer 
more advantages / benefits to a salary increase. Most small businesses lean towards a one-size-fits package of benefits. However, these benefit plans are not a favorite among
employees or business owners who want to meet the diverse needs of their workforce. This has increased the number of employees that promote the benefits widely. With benefits widely available, employees can choose benefits that complement their lifestyle and financial goals. Topping the list of must-have benefits include health insurance and reimbursement of retirement savings plans.
Rebate Program Health Insurance
A health insurance reimbursement program (similar to a HRA) is a notional account used by employers to repay expenses employee health. Here funds do not accumulate in a separate account, but are reimbursed to employees once the expenses are incurred.
registered retirement savings plan
There are a number of ways a company can contribute to the retirement of an employee. The 401 (k) is common and well known, but there are other options such as corporate contributions to individual retirement account of the employee (IRA) or health savings account (HSA).
Why retirement and benefits of health Go Together
Although employers generally offer HSA contributions as health benefits, they can be a great tool for employees seeking save for future expenses. Employees must pay the maximum amount in their HSA each year before they contribute to any other retirement account type. IRA and 401 (k) s require you to pay state and federal taxes on any money withdrawn from the account. HSA are treated as IRA and 401 (k) s, except regarding distributions for qualified medical expenses - which are tax-free at any time. Since medical costs are still one of the largest expenses for an aging population, an HSA becomes a means to save tax-free money for retirement.
Education - A Key Solution
The biggest mistake a company commits is to provide abundant benefits of options but no education on how best to use them. Employees must be informed about the type of coverage and benefits that best suits them. That's where counselors can intervene and help navigate through multiple offers.
Conclusion
By providing flexibility in employee benefits, employers can attract and retain qualified employees.
What strategies have you had to educate employees on your benefits? Leave a question or comment below.
0 Komentar