The Critical Importance of Ancillary Benefits

Imagine this: You're an employee who feels valued at work because your employer doesn't just stop at providing basic health insurance. They go a step further, offering additional benefits like dental and vision care. Sounds ideal, right? That's the power of ancillary benefits.

Employees are the backbone of any business. Their satisfaction and well-being are crucial to long-term success. While group health insurance is a foundational offering, ancillary benefits provide extra support that helps employees feel genuinely cared for.

What Are Ancillary Benefits?

Ancillary benefits complement standard group health insurance by filling important gaps in coverage. Examples include:

• Vision care
• Dental care
• Short-term medical care
• Hearing care

These benefits offer employees more well-rounded healthcare options, ensuring their overall health needs are met.

Benefits to Employers

Offering ancillary benefits comes with specific advantages for employers, such as:

• Enhancing the company’s value proposition and reputation among employees.
• Giving a competitive edge in recruiting and retaining top talent.
• Structuring these benefits as voluntary plans, funded by employees, can mean no added cost to the employer.
• Utilizing Section 125 of the tax code to reduce FICA contributions.

Benefits to Employees

For employees, ancillary benefits can significantly improve their overall experience:

• Affordable options for necessary care that fill gaps from standard insurance plans.
• Peace of mind with preventative care services such as dental and vision check-ups.
• Funding benefits using pre-tax dollars, thereby reducing taxable income.
• Improved morale and a better work environment due to supported health and reduced personal healthcare costs.

How Ancillary Benefits Boost Business Growth

Happy employees tend to stay longer, contribute more, and help create a positive workplace culture. This can significantly reduce turnover and aid in recruitment efforts. Taking a holistic approach to employee well-being with ancillary benefits shows that a company cares about its workforce. This leads to a positive work environment and a stronger reputation in the marketplace.

Consider evaluating your current benefits package and exploring ways to enhance it with ancillary benefits. Contact us for a consultation or more information on how to implement these options. Downloadable guides or a free assessment are available as added incentives.