Beyond the regular salary and overtime, companies are increasingly offering employees additional benefits. However, most still find this topic complicated, even when they’ve been enrolled in multiple programs for years. The main reason is because of the constantly changing marketplace. Every year, employers look to modify their payment plans, and new requirements pop up. However, you can still trust you’ll get the best out of your plans if you partner with a reliable employee benefits company like 401(k) Plan Company.
What are the group programs I may be eligible for?
Employers are only mandated by law to provide minimum health insurance coverage. Under the Affordable Care Act, the minimum coverage typically spans across prescription coverage, general health insurance, and dental benefits. However, most employers will offer more to make their company competitive in the employment market. These additional benefits can cover vision care, flexible savings arrangements, short- and long-term disability insurance plans, life insurance, profit-sharing, and more.
Employees can also come together to pay for voluntary benefit plans at significantly reduced rates. Some of these plans may include cancer care, homeowners and vehicle insurance, supplemental life insurance, and more. If you want to know more about these benefits, our customer care representatives are always on hand to address your queries.
How can I know the kind of benefits I need?
Ultimately, the best employee benefits plan for any individual will depend on the employee in question. If you want to know what’s best for you, you’ll need to examine your present circumstances while trying as best as you can to predict the future. For example, if you have a family history of chronic diseases, you may want to enroll in a health insurance program that will cater to the condition.
When can I enroll in an employee benefits program?
Your workplace may have specific rules about enrolling in a benefits program and the kind of programs you can enroll in. So, you’d want to first check with your company’s human resource department to know if there are rules you should be aware of.
Generally, employers notify their employees when the enrollment period draws near. It’s better to research the plans you’re interested in before the enrollment period begins. That way, it’ll be much easier to decide once the time comes.
Can I make changes to my employee benefits selection?
Yes. The companies in charge of employee benefits allow making changes in three ways:
- When you’re switching jobs, and your new employer is offering new coverage
- During your place of employment’s open enrollment period
- When you experience a qualifying life event
Can I enjoy employee benefits as a part-time worker?
More and more employees are starting to consider the needs of their part-time workers. However, there is no guarantee that your employer will offer you benefits plans, or the plans will be enough. Your best bet is working with a reliable voluntary benefits provider that will offer mouth-watering plans at considerably reduced rates.
Do you wish to know more about employee benefits? Why not get in touch with the experts at 401(k) Plan Company. Contact our representative on (858) 220-1505.