Employee Benefits
Employee Benefits
Starlight Financial is here to help you navigate employee benefits.
What are Worksite Benefits?
Worksite benefits, also known as voluntary benefits, are a profitable solution that helps employees balance their out-of-pocket medical costs. Voluntary benefits allow employees to pick and choose the additional coverage they require, and is then paid for using payroll deferrals. High-deductibles and costly co-pays often create gaps for employees, and worksite benefits can help them pay for those costs. Worksite and voluntary benefits allow employees to choose benefits that best suit their needs without impacting the benefit budget for your entire company.
Why Should You Offer Worksite Benefits?
Voluntary benefits show your employees that you care about their individual needs. If your business offers high-deductible health plans to employees, voluntary benefits are a way to relieve the financial pressure that these plans place on them. Employees that feel secure with their benefits will be much more satisfied with their job, and are more likely to stay with your company. Employee satisfaction contributes to a better work environment, a better employee retention rate, and provides employees with peace of mind, allowing them to better focus on the task at hand. Worksite benefits also allow companies to maintain a competitive benefit program without breaking the budget, because the individual policy holder is 100% financially responsible for these benefit choices.
Current Issues Businesses are Facing
Regardless of the size of your business, uncertainty is rampant. With new and developing technologies constantly changing and restructuring how businesses operate, it is difficult for business owners to feel secure about the future. Government policies and regulations are changing, globalization is becoming necessary, and life and business is becoming more and more complex as new technologies and innovations are introduced. One way to face the current issues that businesses are facing is with the help of financial advisers. Advisers can help calm some of the uncertainty that surround businesses, by providing you with plans for the future. To request more information about financial advisers, contact Starlight Financial.
Guaranteed Issue Programs for Employees
Guaranteed Issue programs make the process of getting life insurance for your employees much simpler. Instead of answering never-ending health questionnaires and taking medical exams, the guaranteed issue program allows for entire groups to go through the underwriting process based on specific formulas and classifications. Guaranteed Issue is a great way for employers to attract and retain employees for their company. By participating in these programs, employees can also add services that may be beneficial, like wellness cards, free AD&D, tele doctor programs, and fraud protection.
If you would like to request more information about these employee benefits, contact a local agent at Starlight Financial. Located in New Albany, Louisville, Pikeville, Florence, and Lexington, Kentucky; Phoenix, Arizona; Kingsport, Tennessee; Linton, Indiana; Fredericksburg, Virginia; and coming soon to Southern Illinois, Starlight Financial can provide your business with the support you need.