A valuable employee-retention tool that can provide significant cost-savings for your business.
What Is Group Health & Dental Coverage?
This group benefit provides medical or dental insurance to help your employees with their health care expenses. Many businesses pay all or a portion of the cost, which may be a deductible business expense.
Who Needs Health & Dental Coverage?
You may if, as a sole proprietor, partner or co-owner of a closely-held business, you:
- Want to attract and keep quality employees
- Want to offer a highly-valued benefit to employees
- Want to provide these same benefits for yourself and your family as well
How Does It Work?
Group Health and Dental Policies can be tailored to the specific needs and budget of your business and employees. Policies are often available for groups as small as one person. Since group underwriting is used, rates generally are lower than for individual policies. If employees contribute to the cost, they have the option to enroll, often without the need for a medical exam or proof of insurability. When the business pays all or a portion of the premiums, that amount may be a deductible business expense.
Why Should I Find Out More?
Group Health and Dental coverage is a valuable employee benefit which can help you: - Reduce employee turnover
- Boost employee morale and productivity
What benefits do employees value?
According to the1997-1998 Graduating Student and Alumni Survey by the National Association of Colleges and Employers, benefits were rated on a scale of one (least valued) to five (most valued):
| Most Valued | Least Valued |
| Medical Insurance 4.71 | Telecommuting 2.90 |
| Retirement Benefits 4.30 | On-Site Fitness Center 2.47 |
| Annual Salary Increases 4.09 | Casual Dress 2.45 |
| Dental Insurance 4.05 | Psychological Counseling 2.09 |
| Life Insurance 4.01 | Company Car 1.89 |
With a variety of options, you select those best suited to your budget and needs. You select the type of policy and amount of benefits you, your family, and your employees receive. Obtaining quality health care at a reasonable price can be difficult, especially if yours is a small business.
Group Health & Dental Coverage at Work:
Wolf Valley Printing experienced 40 percent turnover in personnel each year. The cost to hire and train replacements averaged nearly $25,000. After conducting a survey of employees, the company added a Health and Dental Benefit Plan and shared costs with employees. The cost to the company came to $12,000 a year, but it cut turnover to just 20 percent. The benefit package virtually paid for itself in reduced recruiting and training costs. And the real bonus was in improved productivity, which went up 15 percent due to the overall increase in experience level (and increased morale) of the workers.
Where Can I Get More Information?
Call one of our licensed agents at 801-223-3200 for a free quote. Or email us your contact information below and one of our agents will contact you.