With an aging population, the cost of healthcare and retirement are a big concern for employees. Workers caring for family medical needs, while also saving for retirement, and money is tight. An employee benefits plan can provide advantages to both employer and employee.
According to a recent study, 42% of companies surveyed with 2 to 100+ employees did not offer health benefits to their employees, and fewer offered a retirement program, such as profit-sharing (25%), group RRSP (20%) or employee pension (15%). Businesses trying to grow and retain talent must invest in a long-term employee policy.
Reliance Insurance can help you understand your options when implementing health insurance and retirement planning for your employees.
Why offer health insurance and retirement benefits?
- Your company is seen as a long-term player with a market edge.
- Pooling of risk allows for volume discounting.
- Tax-advantages for both employer and employees.
- Employee engagement and loyalty.
- Plan design taxability can help customize a program rather than a one-size-fits-all model.
- Acknowledging the stresses associated with physical/mental health enables you to keep costs in check for absence management and employee wellness.
We can help you structure an employee benefits plan
Reliance can partner with you and help you plan by:
- Orchestrating education session on usage/cost of health services.
- Assisting employees in monitoring fraud and plan abuse to protect renewals and bottom-line costs.
- Plan reviews to ensure the program is the right plan design at the right price.
- Conducting risk assessment on the value of health/retirement programs as a tax-preferred form of compensation.
Bringing in employee health insurance and retirement benefits is a smart move for businesses who want to attract and retain top talent, but it requires a strategy. Call our team at Reliance Insurance for expert guidance on this important investment.
Reliance will conduct a risk assessment and help you protect your bottom line with the right plan at the right price.
You may need:
Don't let the loss of a key person in your organization be the death of your business.
Prevent loss of income if your premises are damaged.
This insurance can cover equipment losses due to power surges, short circuits and more.
Directors & Officers
As a director or officer, protect yourself from being sued.
We are delighted with your value-added approach, forward-thinking, timely responses, and in-depth research into our needs now, and as we grow. We feel very confident in Reliance’s knowledge.
— Controller, Kryton Group of Companies
Did Millennials get it right with nutraceuticals ?
Good health above all else: the millennials have spoken…and nutraceuticals companies are listening? Those millennials are a wily bunch. They won’t open their wallets for […]
Why are employment related lawsuits on the rise?
Why are employment related lawsuits on the rise? Employment-related lawsuits are a growing concern for employers of all sizes, including home-based businesses. Reliance Insurance Agencies, […]
Keep your work force loyal with a employee group benefits plan
Keep your work force loyal with a employee group benefits plan Employer-sponsored benefits plans can help organizations provide more than drug and dental coverage for […]