Whether you are an employer looking at ways to attract and retain talented employees or someone deciding on which company for which you prefer to work, ancillary benefits make a difference.
Health insurance is typically the first offering put in place and is imperative in today’s competitive environment. Ancillary benefits such as Dental, Vision, Life, Short and Long-Term Disability insurance are next on the list.
Here are some numbers of what companies typically offer depending on group size:
| Benefit |
10-19 Employees |
20-99 Employees |
100+ Employees |
| Dental |
46% |
67% |
82%+ |
| Vision |
44% |
62% |
77%+ |
| Short Term Disability (STD) |
36% |
53% |
69%+ |
| Long Term Disability (LTD) |
31% |
48% |
60%+ |
| Life |
36% |
57% |
74%+ |
2017 LIMRA Employer Study: Understanding current trends in employee benefits; most recent available.
The power of pooling allows for stronger benefits and lower rates compared to purchasing coverage individually. The more the employer contributes, the more members will enroll. The size of the group enrolled drives premiums down significantly. Even if you, as the employer, do not off-set the cost, the offer of benefits to a group is going to be stronger than to individuals seeking such coverage on their own.
Where do you start your search for these benefits and how will you find the time to research the most valuable options? The most efficient way is to contact an independent licensed agent at the Ten Eyck Group to do the work for you. We will gather data, access quotes, negotiate on your behalf, hold meetings in-person or remotely with employees and provide service throughout the year.
We understand that choosing, enrolling, and using ancillary benefits can be a daunting task for employees. Every individual has different needs and expectations when it comes to their benefits which is why it is so important to us that you understand your benefits and how they can best work for you.
At the Ten Eyck Group, we pride ourselves on the service and support we provide to our clients. Call our Life & Health department today if you have questions or would like find out more!