LINDA MACKEY INSURANCE OFFERS GREAT BENEFIT PACKAGES FOR LARGE COMPANIES!!
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678 870 9983
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If your company has over 500 employees all located in one area, you may want to learn about a truly innovative self insured plan. Contact us to get more information on this very unique concept. 678 870 9983
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678 870 9983
Large Companies are defined as those with 99 or more full time employees. These companies have very special needs as they are looking for ways to retain and attract high quality employees. The only real way to accomplish this is by offering excellent and well thought out benefits packages. The real key to this is finding the right benefits while keeping cost in mind.
Health Insurance is at the top of the necessary benefits! Depending on your industry, there are different types of health insurance that you can offer.
Corporations that traditionally have lower turnover need to offer a quality health insurance package. The company needs to pay at least half of the cost of the health insurance for the employee, and may want to consider paying a part of the dependent coverage as well. It is important to pay enough of the cost to make it affordable for the majority of your employees. If you drop to a low percentage of employees who participate, you will likely end up covering only the oldest and unhealthiest employees. This will raise the costs and make it difficult to get coverage whether you have a self-funded or fully funded plan. Most companies are moving toward higher deductibles in order to make this more affordable.
Every company should consider adding a High Deductible, HSA qualified plan. Many employers don’t think their employees are going to be interested in this type of plan, however with the proper presentation, most companies find that several employees are very interested. It is important to get the employee’s attention by explaining that only 20% of all covered people use even $1000 of their deductible. If the employee doesn't fall into that category, they are likely over insured (and paying too much) for their benefits. The HSA qualified plans address the needs of these people. This will save the employee and the employer money in the long run, but perhaps not the first year or two.
For more info, call us at 678 870 9983
Another method of cutting costs is the use of well thought out supplemental insurance plans from specific companies. It is important to set aside some time to discuss the benefits you currently offer, the expenses you have, and the goals your company supports. With this information, we can put together a package that supports your company’s future goals. If your benefits have been placed one at a time over the past several years, it is time to go over the entire package and put your benefits to work for you! Often long term employees are covered under antiquated plans that need to be updated. We routinely look for this situation in the plans we revamp.
Obviously it is important to offer your insurance on a pre tax basis to cut costs for the employee and the employer. Other ways to save include using your benefits to reduce costs in other areas. Two examples of this are to include disability to cut Workman’s Comp costs, and using "added value solutions" offered by supplemental companies. For instance, one company creates benefit documents for you, and another will help with the employee training for good faith HIPAA, FACTA and GLB laws.
For more information call us at 678 870 9983
Companies with rapid turnover also need to retain and attract quality employees. Because of the traditionally low revenue that is generated by restaurants and other similar companies, most find that they need to offer very low cost options. This can be done with limited benefit plans that only address doctor office visits and medication needs. Obviously a full medical plan is preferred, but when those are simply not affordable, the limited plans are substantially better than not offering any type of insurance. These plans can be payroll deducted and usually are offered pretax. They can run as little as under $50.00 per month for employee-only coverage.
If it is impossible to pay any portion of the cost of health insurance, there are some insurance companies that will allow individual plans to be payroll deducted. Many companies are finding this to be a cost effective way to help their employees with their health insurance needs. THIS IS NOT considered a benefit package, and the employer can’t pay any portion of these plans, but it is still a way to allow the employee a convenient way to get health insurance.
Some companies offer a combination of these plans. For instance, the company may pay for a very high deductible plan that will only cover the needs of a person who is hospitalized. The employee can then fill in with a doctor visit and medication only, limited benefit policy. If the employee chooses not to buy the limited benefit plan, they still have the major medical policy for the expensive major health needs, provided by the employer.
Get started today, call us at 678 870 9983
