What You Need to Know About Employee Benefits
Offering the right employee benefits is one of the best ways to ensure that all of your employees stay happy, healthy, and productive within your company. To be confident that you are offering the right employee benefit plans that help both your employees and the company as a whole, keep these reminders in mind.
- Act now – even though 2016 seems far away, it will be here before you know it. Making sure that you are complying with all of the Affordable Care Act (ACA) and IRS reporting requirements can ensure that you are prepared for years to come.
- Budget – with the new costs that are associated with the ACA, chances are your budget has been greatly impacted. Working with a broker can help to ensure that your budget is not completely overrun by the new ACA costs.
- Consider wellness programs – gather as much data about your employees that is allowed by law, such as health risk assessments, to find out what type of wellness program will work best at your company and will have the biggest impact on the largest population of employees.
- Determine if self-insurance will work – employers who are self-insured have more flexibility when it comes to ACA and state requirements. There are also many stop loss programs that are available to self-insured companies to help minimize the risk and exposure to the company.
- Expect more from your broker – your broker should be providing comprehensive compliance, communications, administrative, and analytical support and guidance to help ease your daily workload. If they are lacking in anyway, look for a new broker who can help provide the right amount of help for your entire company.
For all of your California group benefits needs and to ensure that your employees are protected, contact Pacific Group with locations in Laguna Hills and Palos Verdes Estates.