As an employer, offering a comprehensive health benefits package is one of the most effective ways to attract and retain top talent. In addition to traditional medical coverage, there are other health benefits that companies should consider when designing their package. 

Vision and Dental Coverage

When it comes to health benefits, many employers focus solely on medical coverage. However, offering vision and dental coverage is just as important. Vision and dental issues can have a significant impact on an individual’s overall health and well-being, and neglecting these areas can lead to more serious health problems down the road. By including vision and dental coverage in your health benefits package, you can help your employees maintain their overall health and reduce their out-of-pocket expenses.

High-Deductible Plans

High-deductible plans are becoming increasingly popular in the world of health benefits. These plans typically have lower monthly premiums but require employees to pay a higher deductible before insurance coverage kicks in. While high-deductible plans can be a bit more challenging for employees to manage, they do have their benefits. For one, they help to keep monthly costs down for both employees and employers. Additionally, high-deductible plans often come with Health Savings Accounts (HSAs), which will help your employees pay for medical, vision, and even dental treatments.

Employees can put money into their HSA tax-free, which can be used to help cover the costs of a high deductible. Lastly, high-deductible plans give employees more control over how they use their health benefits, as they are able to choose what type of treatments and services they want covered by their insurance. 

Subsidized Insurance Plans

One of the most significant expenses for employees is the cost of health insurance. To help ease this burden, companies should consider subsidizing the insurance plans they offer. This means that the employer pays a portion of the premium cost, reducing the amount the employee has to pay out of pocket. Subsidizing insurance plans not only helps employees afford their coverage, but it also shows that the company values their health and well-being.

Offering a comprehensive health benefits package is a critical component of any employee compensation package. By including vision and dental coverage, high-deductible plans with HSAs, and subsidized insurance plans, companies can help their employees maintain their overall health while reducing their out-of-pocket expenses. These benefits can also help to attract and retain top talent, showing that the company cares about the well-being of its employees. Ultimately, investing in a comprehensive health benefits package is a win-win for both employers and employees.

Did you enjoy this article? Check out How to Manage a Business Without an HR Professional.