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Employee Benefit Information

Employee Benefits can come in many forms. Most people think of them as coverage for prescription drugs, eyeglasses, dental coverage, short and long term disability insurance, life insurance, coverage for their families, you know, that kind of thing.

Benefits can also consist of things like auto expenses, daycare services, vacation rewards, employee discounts, you know, things of that nature. The Benefit Guys can probably help you with things that fall into the first category.

We like to generally put business into three categories: small business, less than 10 employees, medium business with 10-50 employees and large businesses with more than 50 employees.

If you are running a small business with less than 1 or 2 employees you are faced with many challenges. The main one of course is how do you recruit and maintain top quality people when you have to compete with the biggies. And you still have to survive! You may think there are only two of you working at your business, and you can’t get, or even afford, any reasonably priced benefits. You are wrong. In today’s world there are many options for benefits. The Benefit Guys have a page that specifically deals with your small business challenges.

If you are a closely held family corporation you will probably get something more, where The Benefit Guys have a brief discussion about the challenges of a family owned business.

A medium sized business, with 3-20 employees, will usually be able to have a competitive benefit program in place. The two main challenges are controlling costs/claims with your employee benefits, as well as having your program flexible to your employee needs. We have a lengthy discussion on these challenges, offering some alternative solutions. We think you may find some more useful information on a Medium sized business, here.

Companies that have 20 or more employees often are running their benefit packages thru an ASO account. That stands for Administration Services Only. Somewhat of a self insured program. Perhaps you should review your costs and services. What have you planned for catastrophic loss reserves? Are you combining liquidity to the Company with deferred compensation programs with your Key Personnel? Again, The Benefit Guys deal with these and other issues in the specific section on the Large Business 20+ page.

If you are an employee and have some group benefits where you work, you are probably wondering if you can “top up” your benefits by purchasing other benefits on your own. The answer is yes. Some people don’t have dental plans and want a personal one. No problem. If you look at the Individual Benefits Menu bar at the top of this page, you will find the kind of programs that are available.

If, after having visited the above noted areas you still have some questions, by all means complete the Client Data page and let us know your questions.