NEW YORK, Jan. 18, 2019 /PRNewswire/ -- FSA administration company, Clarity Benefit Solutions, provides guidelines for offering better employee benefits.
With unemployment rates lower than they have been in years, employers need to up the ante when it comes to attracting fresh new talent to the workplace. One way to accomplish this is to offer stellar employee benefits that will result in improved employee recruitment—and retention. Here are some guidelines to offering better employee benefits.
First, research the best health plan options that best suit your business. Survey employees to discover their wants and needs when it comes to benefits packages. Work with a benefits provider to design offerings that employees of all generations can effectively utilize. Optimal benefits plans offer a High-Deductible Health Plan (HDHP) in conjunction with a Health Savings Account (HSA) or Flexible Spending Account (FSA). These accounts can be customized for each employee—allowing them to set aside tax-free funds to pay for eligible medical expenses.
It is also wise for employers to include retirement benefits in their offerings, so employees can begin to plan for their Golden Years. Forward-thinking employers are framing HSAs and FSAs as retirement plans. This way, employees can set aside tax-free monies to pay for expenses incurred in retirement. Employee education is key, so employees are armed with the best information to maximize their benefits.
Employers should also consider providing several voluntary benefit offerings, which can be especially appealing to younger generations. Short- and long-term disability, life insurance, pet insurance, virtual doctor visits, and professional developments are some options that employers can offer employees. Financial planning services can provide employees with peace of mind and financial security—and appeals to a multi-generational workforce—for those looking for assistance with their children's college education to paying off student loans and paying for retirement.
Employers should make sure their benefit packages are easily accessible by offering an online platform with decision support tools, so the enrollment process is seamless. This user-friendly platform should allow employees 24/7 access and make it easy for them to make changes and updates at their convenience.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
SOURCE Clarity Benefit Solutions