Insurance 101

Offer Your Employees a Complete Benefits Package

Nancy Kuzenko is an account executive at Anthem Blue Cross and Blue Shield and board member of the Western Reserve Association of Health Underwriters.

Now more than ever, employees expect a full benefit package. Under the Tax Cuts and Jobs Act of 2017, the corporate tax rate was slashed to 21% from 35% and a variety of companies are reinvesting in benefit plans.

Medical benefits continue to be the most sought after part of that complete benefit package. But aren’t your eyes part of your body? Aren’t your teeth part of your body? Don’t you want your employees present and productive so that your business is successful?

Health care should serve the whole person, and that’s why offering a basic medical plan isn’t enough to keep your employees healthy, happy and productive. Offering a complete benefits program attracts and retains good employees, and that includes benefits such as dental, vision, life and disability.

Why should you offer a dental plan? With 90% of the body’s diseases first showing signs and symptoms in the mouth and 120 medical conditions being detected by an examination of the mouth, throat and neck, dental care can help with early detection and therefore earlier treatment for potentially chronic conditions. Since we know that people with dental coverage have two times more opportunity to get a dental exam than an annual physical exam, dental checkups can make a difference in your employees’ lives – and your business. Plus, most comprehensive dental plans include 100% coverage for preventive treatment including X-rays and cleanings.

Do you currently offer a vision plan? More than 120 million people are affected by vision problems, which makes vision issues the second most prevalent health problem in the United States. In fact, some 11 million Americans have uncorrected vision problems – complications ranging from corrective to sight-threatening diseases. People with vision coverage are three times more likely to get an eye exam than an annual physical exam, and this can lead to healthier, more productive employees.

Let’s talk life insurance. Whether a person is single, married, married with children, a single parent or retired – no matter what life stage a person is in – life insurance is most likely needed. Seventy-one percent of people say they need life insurance, yet only 59% actually have coverage. Life insurance can include benefits such as online will, living will and financial power of attorney preparation services as well as legal and financial telephonic support.

Disability insurance is another benefit that employees value. Offering short-term and/or long-term plans help employees stay at work or return to work faster, improving their financial security. With early intervention from clinical staff, employees can return back to work quicker, resulting in a more productive workplace.

Dental, vision, life and disability are all available as voluntary options. Voluntary benefits are a great way to help keep your health care costs in check and strengthen the value of the benefits program. You pick the plan designs and employees pick the coverage they want at affordable group rates. Because employees pay 100% of these costs, there is no negative effect on your bottom line.

Don’t miss out on attracting and retaining the best employees or the ability for your employees to be as productive as they can be. Offer a complete benefits package. Your employees deserve it – your business deserves it.

Published by The Business Journal, Youngstown, Ohio.