How to Select a Supplemental Benefits Provider for Your Employees
There are many incentives an employer can offer to staff which help to attract top talent and retain them. Salary isn’t the only draw, as employees also look for other perks that can make the job even better. Offering an impressive benefits package can be a massive incentive and help get your company noticed. If you want to tip the scales in your favor, however, look into providing supplemental benefits to employees. But before you choose a provider, here are some tips that will help you select the best one.
What’s Your Budget?
It would be great if you could choose a package for employees without a care in the world about pricing, but that’s not likely the reality. Instead, most businesses need to be mindful of pricing. And it’s more than just the price, since you also want to get the most bang for your buck, meaning the package you choose offers the most products for the price.
If you’re having a hard time picking a package, ask yourself how important the added products would be for your employees. Would they be used, would they make a big difference in their lives, and would they even miss those products if they weren’t included? Because these are supplemental benefits, not the main benefits, they should work in concert with the already existing benefits package. There should be no duplicates in coverage and products offered.
Is Customer Support Available and Easy to Access?
Customer support and claims support are things both you and your employees will deal with, so you want to know they offer excellent and timely service. It should be easy to reach a live person who can help you and answer your questions promptly.
Is There a Digital Component Offered?
With today’s reliance on digital tools, it also makes sense to find a supplemental benefits provider that features digital tools, or better yet, a companion app. Employees can make an account and access all the tools, information, forms, and details they need. With a comprehensive digital offering, it means most employees will find everything they need at their fingertips, rather than feeling frustrated trying to connect with the call center.
You can also consider providing members with an OTC benefit card. The idea is that they can use digital tools to access such things as their card balance, eligible items under the plan, listing participating retails and even shopping online.
Can You Add to the Plan Later On?
You also want to be mindful of plans. What happens if you suddenly hire a bunch of new staff to help the company to grow? Can you then add those employees to the plan without issue? And how about the products themselves, what if you want to make changes later on and offer additional products to employees? Is this possible?
So, as you work your way through the selection process of supplemental benefits provider, keeping these tips and considerations in mind will help you to make a well-informed decision that benefits the company and its employees.