Share what you know with millions of people
Focus is the best place to turn what you know into remarkable content
0
How much health coverage does a typical company provide?
What level of healthcare is covered by health plans offered by typical small companies (under 60 people)?
Events
- Dos and Don'ts of Small Business Marketing May 29 @ 11 am PT
- Lead Nurturing 202: The Next Generation May 31 @ 11 am PT
- The Tricks to Paid Media June 6 @ 11 am PT
- Display Advertising for Brand Awareness June 20 @ 11 am PT
Related Activity
3 Answers
I don't know what typical is but I think you have to do enough to attrack the talent you want. The package should not be a liability from a hiring perspective.
We try to have excellent and inexpensive benefits for our employees. As they add spouses and kids, the percentage of the overall cost they pay goes up quickly. So, while we pay over 85% of the cost of benefits for an employee, we will pay only about 50% for a family.
You can lessen the liability of an expensive or limited package by offering other benefits such as flex time, work from home, a birthday holiday (everyone likes to be off on their birthday), etc.
One has to differentiate between company and international organziations. The latter are providing various different packages. Such include also post retirment insurance for the staff member. In general, the insurance can be paid by the employer 100% or split between employer & employee. The coverage can be employee only or dependants until a certain age as well. The coverage should offer a lot of different benefits, including equipment or special treatment coverage.
We are covering our staff and the dependants 100% and are now offering Post Retirment Health Insurance Plans (100% payable by former staff).
The health plans should be supported by other HR Policy arrangements such ensuring low health damaging risk. HR system need to support a healthy working environment.
Our recommendations to small and midsize employers is to offer a variety of coverages. The state(s) and the health insurance carriers will determine the number and types of plans available. Usually a choice of HMO, PPO or POS plans, and a low cost high deductible health plan are made available for the employee to select.
This way, all the company has to determine is how much to budget towards employee contributions. Don't forget the importance of supplemental benefits such as dental, disability, life insurance and critical care coverage.
Many of our clients work with large HR outsourcing companies called Professional Employer Organizations who offer small employers a turnkey package that includes payroll and HR administration, workers compensation, HR compliance and a wide range of affordable health plans and employee benefits.
Feel free to learn more at our website;
http://employers-Rx.com
Bruce Silver
Employers Rx LLC
bruce@employers-Rx.com
Answer This Question