- Introduction to Employee Benefits
- Employee Benefits Mandated by Law
- Introduction to Group Health Insurance
- Costs vs. Benefits of Healthcare
- Types of Healthcare Coverage Plans
- Health Savings Accounts (HSA)
- Health Reimbursement Accounts (HRA)
- Introduction to Group Life Insurance
- Different Types of Group Life Insurance
- Additional Features of Group Life Insurance
- Cost of Group Term Life Insurance
- Structuring Group Term Life Insurance Policies
- Who Will be Covered by Group Term Life Insurance?
- Introduction to Retirement Plans
- Setting Up and Administering a Retirement Plan
- Advantages of Retirement Plans
- Retirement Plan Questions to Ask
- Introduction to Workers' Compensation
- Types of Workers' Compensation Plans
- Introduction to Disability Insurance
- Types of Disability Insurance
- Introduction to Voluntary Benefits
- What is a Cafeteria Plan?
- What is a Flexible Spending Account?
- Communicating Benefits to Employees
As an employer, you must carefully weigh the costs vs. benefits of your choices in healthcare coverage for employees. There are many options for handling premiums on For example, you could choose to minimize the number of plans offered, but pay employee premiums at 100 percent. Others pay for the employee's premium, but share costs for family coverage.
Another financial option is to divide the premium costs between employer and employee (for example, you pay 80 percent and the employee pays 20 percent) in order to offer a more expensive plan that has a lower (or no) deductible and offers more extensive coverage and lower out-of-pocket costs. Your rates for premiums will depend on the size of your company, your industry, the mix of employees you have and their calculated risk, and the state your business operates in.
