For many people living and working, health is always a concern. It’s one reason why health insurance is one of the most desirable benefits that businesses can offer. By assuring potential hires that they can have peace of mind when it comes to health, a company is able to encourage more qualified people to be part of their team.
Now, due to the COVID-19 pandemic, health is even more prominent in the minds of business owners and employees alike. However, while health insurance is always welcome, other health benefits such as a vision or a dental plan can sometimes be a bigger draw. But why should you offer either of them?
Entice Employees With Families
When you hire someone with a family, you can get more stability. An employee earning for their family wants to settle down, have their children attend the same school for years, and live in the same city where your company is.
Additional health plans for vision and dental are often a big advantage for employees if they apply to family members. Compared with single employees, those with children have more reason to stay with a company if they can allow their children to benefit from their own coverage. The former is more likely to move away or change jobs more frequently.
Good business is the direct result of good work, which is done by employees whose health is in good condition. There are very few occupations where excellent vision isn’t a must, so if an employee suffers from vision problems, this can affect the quality of their output. In some cases, such as construction or driving-related jobs, it may even put others at risk.
With a dental or vision plan, employees can get regular checkups, which are essential in detecting health issues. When caught early, they can be dealt with before they become more prominent, complex, expensive, and even life-threatening. This means far less downtime for employees and consistent quality work.
It’s Not Just For Big Businesses
It used to be that only bigger businesses with high revenue could offer health insurance coverage, let alone additional perks like dental and vision plans. Today, however, this is no longer the case, and even medium or small businesses can offer those types of coverage.
While the traditional fully funded insurance model still exists, others such as self-funded, level-funded, and medical expense reimbursement plans are lower-cost alternatives. With these new plan structures, you don’t have to worry about paying premiums every month for every employee. They give you options to create pools of funding from which expenses can be drawn, prevent high costs with stop-loss gaps, and get tax-free reimbursements.
If you’re interested in offering dental or vision coverage to your employees, we can help. Visit us, and we will go over the type of coverage you’re looking for, how you want to allocate your budget, and what plan will best serve your business and employees.