Employee Benefits That Attract & Retain: Building Stronger Teams

A Health Savings Account allows tax-advantaged savings for medical expenses when paired with a high-deductible health plan.

COBRA allows employees to maintain their health insurance after leaving employment by paying the full premium plus administrative costs.

Core benefits usually include health insurance, dental and vision coverage, life insurance, disability insurance, and retirement plans like 401(k)s.

HMOs require selecting a primary care physician and referrals for specialists but cost less. PPOs offer more flexibility in choosing providers but typically cost more.

Eligibility varies by employer and plan type. The Affordable Care Act requires coverage for employees working 30+ hours weekly.

It provides partial income replacement when employees can't work due to covered illness or injury, typically for 3-6 months.

FSAs allow pre-tax contributions for medical or dependent care expenses but typically require use of funds within the plan year.

Employers match a percentage of employee contributions up to a certain limit, essentially providing free additional retirement savings.

Open enrollment is an annual period when employees can change their benefit selections for the following year.

A deductible is the amount employees must pay for covered services before insurance begins paying. Higher deductibles typically mean lower premiums.