Employee Benefits Are Good for Business

Insurance CT

As a business grows, so may the number of people it takes to run it successfully. Hard-working employees may be a company’s most valuable asset. In this competitive market, however, providing an attractive package of insurance in Connecticut to support those workers becomes a challenge. According to the Department of Health and Human Services, only 15% of companies with 25-100 workers offer health insurance. Yet health and retirement benefits may mean the difference between continuous turn-over and a loyal employee base.

Plans to Benefit Both Employer and Employees

Two ways to facilitate a company benefits package are to offer a high deductible health plan, and to provide the opportunity for workers to contribute to their own health savings account. A high deductible plan requires greater out-of-pocket expense up front, but premiums are significantly more affordable than low-deductible plans. Health savings accounts allow employees to contribute to a medical expenses fund out of their paychecks before taxes. These two methods of managing health care insurance in Connecticut are indicative of a growing need for employers and workers to collaborate on a mutually beneficial system.

Attract and Keep Talent

To compete in tight markets, successful companies look to lure and retain employees that add value to the business. Benefits that include group health, dental, vision, life and retirement plans may sweeten the deal for an attractive potential team member.

 

photo credit: Richard Stebbing cc

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