Employee Benefits/Employee Plans
Employee benefits are the “extras” a person receives from his or her employer. These extra perks are in addition to the basic pay an employee receives in exchange for work. Some types of employee benefits are required by law while others are optional.Group/Core Employee Benefits
In many places, employers are required to provide certain employee benefits. For example, an employer may be required to have insurance that provides coverage if an employee is hurt on the job. Sometimes employers are also required to carry disability insurance to provide at least some income for employees who become disabled (even if the disability is not the result of a work-related injury). Voluntary Employee Benefits Some voluntary employee benefit plans help save money for retirement and plan for a child’s college tuition. This is an easy way for employees to manage funds, as the contribution is deducted directly from payroll. In some cases, employers or organizations will even agree to match a certain level of contributions per year. Olde Fayetteville Insurance offers a wide variety of group and voluntary employee benefits. These benefits include the following: Lay the below Core/Group Benefits out in blocks or something other than just a written list:Core/Group Benefits
- Health Insurance
- Dental insurance
- Vision insurance
Voluntary Benefits
- Accident plan
- Long-term disability
- Short-term disability
- Gap plan
- Life insurance
- Long-term care
- Short-term care
The Benefits of Group Health Insurance Coverage- An Investment in your Employees
Many employees report that the most important benefit offered through their job is health insurance. Attract great employees and say thank you to the ones you already have by offering strong health care coverage. Health insurance is an option for any company that has at least two or more employees. Larger corporations may choose to self-insure, using the insurance carrier to administer the health plan and benefits. Olde Fayetteville Insurance currently quotes and services group health insurance for the following:Small Group
- 2 – 50 employees
- Guaranteed issue as long as the company meets the qualifications of a small business.
Mid-Size Group
- Health carriers have their own requirements in determining whether a company falls into the mid-size category.
- Mid-size group is not guaranteed issue; however, there are more health plan options from which eligible employees can choose.
Large Group
- Health carriers have their own requirements in determining whether a company is considered a large group.
- Large groups have increased flexibility and more plan options in most cases. Sometimes companies are able to customize their own plan with a carrier.
- The risk with large group is spread out, which makes it less likely that a company would b