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Make your insurance work for you. Keep costs down while offering the benefits you need to attract and retain quality employees. From health plans to disability and life insurance, we'll help you find the right benefits package for your budget and your business.
Good benefits attract good employees. As health insurance gets ever more expensive, offering the right plan is becoming crucial to getting and keeping top talent. A solid health insurance plan also boosts morale and productivity in your current employees, and can encourage them to stay healthy and productive. All of which leads to more savings.
The right plan for your company should take into account your budget, your employee's needs, and the needs of their families. It should provide adequate coverage while keeping your costs down – no easy task in today's ever more complex health care system. That's where we can make the difference. We'll go over your options and help you select the ones that make the most sense, that keep your employees happy and your budget intact.
We'll also help you manage your plan and develop an effective HR strategy. From educating workers to assisting with claims and payroll, we'll wear the administrative hat for you – so you can focus on growing your business.
For health insurance plans, you have two top-level options: traditional and consumer-driven.
Traditional plans are the most familiar, including HMO, PPO, and POS. They usually offer lower deductibles, low co-payments, and few out-of-pocket expenses for employees who stay within the network. Premiums are often higher than consumer-driven plans. Traditional may or may not be the best option for your company, depending on your recruiting and retention goals, and the needs of your employees.
Your other option is the consumer-driven plan, which requires employees to be more responsible for their own health care. Is it right for you? Consider consumer-driven plans when:
Consumer-driven plans can yield both short- and long-term savings. Extensive networks combined with flexible plans offer short-term savings. Lower premiums and better health care choices can reduce costs in the long term.
One variant – the partial self-funding plan – lets you use savings from high-deductible plans to help pay for employee health expenses.
By including higher deductibles, consumer-driven plans deliver lower premiums for you and your employees. The plans are often combined with Health Reimbursement Accounts (HRA) or Health Savings Accounts (HSA) to further cut costs.
Studies show that employees in consumer-driven plans make wiser and less expensive use of their health care. Studies show:
You save with lower premiums, while protecting your workers from crippling medical expenses. In addition, the plans often encourage healthier lifestyles with wellness incentives, lowering your health care costs even more.
Studies show that employers who encourage wellness gain a host of benefits: improved productivity, reduced absenteeism, lower overall health care expenses, and increased worker satisfaction.
Our health plans encourage your employees to become informed health care users and to live healthier, more active lifestyles. Your employees learn to:
Improve their health and stay healthy
Improve the quality of medical services while lowering the cost
Manage chronic conditions
Employees can learn proper exercise techniques, get food and nutrition tips, start a journal, and use online assessments, calculators, and demos to build a more active and productive lifestyle.
Online Health Coaching classes, including weight loss, fitness, smoking cessation, stress management, heart health, and diabetes programs
Their personal health record of conditions, medications, procedures, and lab results
24/7 phone advice from nurses
Customized wellness e-newsletters
Health statements, including expenses, helpful reminders, and tips to improve health based on their claims activity
Fitness, nutrition, weight management, vitamins and supplements
Alternative care (chiropractic, acupuncture, natural medicine, and massage therapy)
Dental care, including whitening, straightening, and cosmetic dentistry
Long-term care (adult day care, assisted living, home care, nursing facilities, and medical supplies)
Hearing care, including hearing aids and other devices
When the unexpected happens, you can help your employees meet their expenses with disability coverage. Your workers may become disabled, but their bills won't. Having extra money means having less stress, which can lead to faster recovery and faster return to work. Many plans offer return-to-work incentives and rehab services to minimize lost time and revenue. You'll also save on the cost of hiring temporary workers.
Give your employees peace of mind with the right life insurance policy.
Your employees and their families can endure tremendous suffering after the death of a loved one. Life insurance can ease their pain by paying off debts and providing needed cash. If your workers have dependents, they need life insurance. Group coverage through your company saves them money and reassures them – their loved ones are protected.
How much life insurance do your workers need?
According to one rule of thumb, ideal coverage is annual income multiplied by 10. But no one rule applies to everyone, so we'll help you find the right plan for your employees, so they have the flexibility to choose the best coverage for them.
- Social Security Administration, Fact Sheet, January 31, 2009
Individual disability insurance is truly a basic concept. It is an insurance product designed to replace anywhere from 45-60% of your gross income on a tax-free basis should a sickness or illness prevent you from earning an income in your occupation. Every disability insurance policy from every insurance company is very different; this is not a product to simply shop for the most competitive rate. To buy the cheapest disability insurance policy on the market is to throw money away. The odds of getting paid a monthly benefit under a cheap contract may be significantly lower than receiving benefits from a quality contract.
We'll help you choose the right disability plan for your business and your employees.
You can choose from two types of disability coverage: short-term and long-term. When you partner with us, we'll go over your unique needs to see which policies suit your company, then we'll guide you through the features and benefits of each policy. Armed with that info, you'll be able to decide which plan best fits your business. You'll give your employees added peace of mind and another powerful reason to join and stay with your company.
Short-term disability starts when your workers are unable to work due to sickness, injury, or birth of a child. It typically lasts 10 to 26 weeks.
Long-term policies can replace up to 60% of salary and last for a certain number of years or until the employee reaches retirement age. The longer the benefit period, the higher the premium.
47% of U.S. employers offer short-term coverage and 40% provide long-term disability, according to industry trade group LIMRA. We'll help you decide whether you need short-term, long-term, or both, and how much you need. We'll make sure you choose the plan that offers the right level of coverage for your employees.
If the company pays all or part of the premium, that's likely the best option for employees to start with. They benefit from lower group costs as well as reduced premiums.
Provide your employees with peace of mind with Life Insurance Words can't describe what your employees and their families endue after a loss of a loved one. Life insurance helps families pay off debts and other expenses so they have to rely solely on savings. If your employees have anyone who depend financially on them, they need life insurance no matter their age or marriage status.
One of the biggest reasons to buy life insurance is to provide money in case of death. If you're single and don't want to leave money to anyone, you may not need life insurance. But as you take on more responsibilities and your family grows, your need for life insurance increases. The proceeds from a life insurance policy can replace the income lost to your family upon your death. The life insurance death benefit can also pay off debts and expenses, provide money to a charity or organization, and cover final and estate expenses.
Small business owners work hard to establish their business and achieve success. However, there may be planning issues that need to be addressed to be sure success continues. Some of these issues may be:
What will happen to your business at your death? Will your heirs need to sell the business to obtain cash to pay estate taxes and liabilities? Will your heirs and surviving owners work together harmoniously?
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Employees are an integral part of a business' success. As a result, you should ask yourself: Could your business continue to be as profitable in the event of the unexpected death of a key employee?
A major problem facing many businesses today is attracting and retaining top-caliber employees. As a small business owner, you are aware of the importance of employee benefits and their contribution to your business success. Whether it's using a qualified retirement plan or group life insurance.
Fringe benefits, such as Split Dollar, Executive Bonus, and Deferred Compensation allow an employer to select the employees it wishes to participate and vary the benefits among them. The plans do not have to meet IRS requirements, and there are no IRS mandatory distribution requirements.
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How you treat your workers, the benefits you offer, your HR systems, all have a huge impact on your business. At Zinn, we'll analyze your current benefits package and help you develop the right strategy to boost recruiting and retention. You'll see how you can tailor your benefits to your employees at different levels, invest in your human capital, and offer the right benefits to the right people.
From fringe benefits to wellness incentives, we'll help you build an HR strategy that attracts high-quality employees and keeps them at your company.
Call us today at 1-866-405-7226 or contact us [link] to reduce your costs and develop an HR strategy that works. Be sure to sign up for our e-newsletter to stay up-to-date and get valuable cost-saving tips. We tolerate no spam and unsubscribing is easy.
At Zinn Insurance, we'll help you find your Insurance Zen.
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