How to Choose the Right Supplemental Benefits Program for Your Business

If you are considering implementing a supplemental benefits program for your employees, or you are looking to replace an existing program, there are two main factors you need to keep in mind: it needs to work for you as the employer, and it needs to be attractive to your employees. You want everyone to feel as though it is a huge incentive when it comes to working for your business. Here are some basic tips to keep in mind to help you choose the right supplemental benefits program for your business.

What’s Your Budget?

This is always an important place to start; setting the budget should be a top priority before picking any benefits program. There will be a cost per employee, with the cost increasing as you add more people and more coverage. It’s always wise to think of the budget as flexible, as you may be able to pay more over time, so the benefits package may need to change. Ideally, you want to strike a balance by making sure the program is within budget, yet still offers an impressive amount of coverage.

How Easy Can the Benefits Be Accessed?

Now it’s time to put yourself in your employees’ shoes. How easy is it for them to use the program? You want to limit the amount of up-front costs they pay. A member ID card that is tied to the health plan tends to be the best option, as employees can just show the card and not worry about submitting paperwork.

There should also be the option for employees to easily check what their balances are, the coverage they have, and other important details. There may be a companion app or website that they can log into and access that kind of information. Don’t forget that training will need to be provided to all employees regarding what the program includes, how to access it, and where they can go if they have any questions. 

Look Outside the Norm – What Other Benefits are Offered?

Many of the top benefits programs cover important health needs such as healthcare, dental, hearing, vision, home health care and OTC products, but what about the extras? Medicare and Medicaid are great examples of providers that are looking for other ways to help offset the costs that members pay out of pocket and expenses in general. Things such as healthy food benefits, wellness rewards and delivered meals and produce may now be included. You can look at this for ideas and direction as you choose the program that would best suit your employees’ needs.

A Program That Works for All

These are just some of the important things to factor into the decision process when looking at potential supplemental benefits programs for employees. An employer-subsidized benefits program is such a big incentive that it can help attract and retain top talent in the industry. It’s all about valuing your employees and showing them appreciation.

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