More people are changing jobs regularly than before to climb the career ladder. Workopolis noted in a 2014 study that 88% of people had to change companies to obtain better positions, and only 51% of people keep the same job for less than 2 years. This is making it exceedingly difficult for smaller businesses to not only keep employees, but to offer themplans that are as affordable and competitive as those offered by larger corporations as well.
Many small business owners are under the impression that group health insurance is the only option that they can offer employees. In fact, a large number of them aren’t even aware that other options available, such as the Health Spending Accounts (HSAs) that are available through Benecaid.
Benefits of Health Spending Accounts
HSAs provide employees with predictable costs. They are also pre-funded, meaning that companies deposit set amounts into an account, which are then used to cover the cost of claims that are submitted. If the full amount in the HAS isn’t used, the balance of the funds are rolled over to the next year.
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Another benefit of HSAs is that employees can choose how to spend their plan funds instead of being limited to predetermined amounts in categories that they might not even use. These accounts provide employers with the benefit of a set budget, while also giving employees control over how their funds are allocated. All of these benefits mean that HSAs are ideal options for small and medium businesses to provide a counter-offer to health care options that are offered by larger corporations, thus helping to retain as many of their employees as possible.
Benefits of Working with Benecaid
Smallcan enjoy numerous benefits when working with Benecaid. For a start, sole proprietors and companies who don’t have any experience in developing a small business benefits plan from scratch have found that working with a trained and experienced Benecaid Advisor helps them to create benefit plans that are the most suitable for their businesses.
Benecaid firmly believes that it’s essential to ensure that all potential candidates and existing employees are aware of what benefits they are entitled to. It is also crucial to look atas a part of an overall goal of ensuring that workplaces are kept as healthy as possible. When employees are aware of how much money they have available and what medical benefits they are entitled to, it enables them to enjoy significant peace of mind.
HSAs are just one of the many availableowners. The company has helped many small and medium businesses remain as competitive as possible in the marketplace by means of being able to retain top talent in their industries.
Your dedicated Benecaid advisor will work with you so that you can learn more about the plans and HSAs that are available through the company. This will help ensure that you are able to provide your employees with the best benefit of all – namely, peace of mind in knowing that their medical expenses will be taken care of.