Benefit plans serve as a great way to provide value to employees beyond their salary. Because benefits are becoming increasingly important, it’s important that you give your employees the option to tailor their benefits to their needs. At SBMA, we believe in meeting your employee’s medical needs with additional benefit options. We offer our clients the option to choose various voluntary/worksite, ancillary, and virtual health benefit options.
Attention Brokers: Are you offering your ALE clients the most affordable MEC?
Attention Brokers: Are you offering your ALE clients the most affordable MEC? How can you offer your applicable large employers a one-stop-shop for all their needs? Benefits are no longer about simply meeting Minimum Essential Coverage options. You need to offer worksite and voluntary benefits, telehealth options, call center availability, and easy portal management. Why should you offer these options to your employers? Because they want them.
In order for employers to attract and retain great talent, they need great benefit options. This means going beyond standard MEC requirements and offering services that provide value and attract the best workers..
Let’s start with voluntary benefits.
Worksite and voluntary benefits include accident insurance, term life insurance, critical illness insurance, and hospital indemnity.
- Accident insurance includes aid in payment for medical and out-of-pocket expenses that may occur due to an accident occurring.
- Term life insurance includes a way to provide financial protection for loved ones while employees are working.
- Critical illness insurance adds a safety net for those who are under-insured.
- Hospital indemnity benefits help to offset high deductibles and out-of-pocket expenses so a hospital stay does not become a financial crisis.
Next, consider offering your employees access to telehealth care.
With 24/7 access to doctors, telehealth, also known as Virtual Health, can help employees get care when they need it with added convenience. At SBMA, we offer telehealth options that include behavioral health and therapy access, to give employees the ability to speak to a therapist whenever they need it*. In addition, it helps employees receive necessary prescriptions without having to go to a doctor’s office.
Employers look for convenience when looking for benefits, as a broker you can provide a one-stop-shop for all your ALEs benefits needs. This means 24/7 call center support and easy access to portal management, single point billing, and US-based customer care.
At SBMA, we offer portal management access to provide employers with the ability to make plan changes, order ID cards, and have them shipped within a few days, check their claim statuses, and give employees the ability to manage their own profiles.
With bilingual call center support, you’re getting licenses representatives to help manage enrollment and provide year-round support. All of our representatives are in-house, which means they understand your client’s needs.
SBMA can provide a one-stop-shop for all employers to handle their benefit needs. As a broker, it is your responsibility to provide your employers with the best possible options for their needs. Contact us to learn more!
How to Increase Your Employee Retention Through Benefits and Incentives
Employee retention and company attraction stem from making your employees feel valued and appreciated at work — praising employees makes them feel as though their work is important. One way to do this is to provide benefits and incentives that are competitive. Not all benefits have to have a monetary effect on your company. Here are a few creative ways to offer good benefits and incentives to improve employee satisfaction.
It is extremely important to make your employees feel empowered to work independently. Most employees do not respond well to being micro-managed and are typically more productive when they aren’t. Allow your employees to collaborate on their schedule and choose to work when they are most productive. For hourly employees, give them the ability to offer their availability and communicate when they prefer to work so they can be most productive.
Giving your employees the ability to be independent at work simply allows them to freely collaborate on projects and tasks. Once you have done this, give them the space to succeed and show your trust in their work.
Provide healthcare options that meet their needs. Offering diverse options for your diverse workforce. Options like telehealth services, dental, vision, accident, and life insurance give your employees more expansive offerings.
Another way to improve your employees’ satisfaction is to provide educational and developmental opportunities. Not only will these benefits improve your employees’ resumé, but offering educational benefits will give them more skills to further grow within your company. Most employees want to be able to develop further within their companies, so as an employer can be your duty to provide those opportunities for them.
Lastly, employers can offer bonuses based on performance to make employees feel appreciated for their hard work. These don’t always have to be a monetary bonus — you can also offer extended vacation time or other ways to show you appreciate their hard work.
Benefits and incentives are some of the best ways to show your appreciation for your employees. Offering competitive benefits and showing employees you care will increase employee morale and satisfaction within your company. Contact us for more information on benefits for your employees.