What We Offer
Employee Health Benefits
Required Employee Benefits
Employee benefits play an important role in the lives of employees as well as their families. For that reason, the benefits you offer can be a deciding factor for a potential employee’s decision to work at your business.
There are two types of employee benefits must provide by law those the employer must provide by law and those the employer offers as an option to compensate employees. Examples of required benefits include social security and workers’ compensation, while optional benefits include health care insurance coverage and retirement benefits. Both required and optional benefits have legal and tax implications for the employer.
Group Health Insurance
Protect the health of your employees and get an edge in recruiting with the right group health benefits package. Explore the different group health insurance options available for your business through Lutz Ventures Insurance Services, Inc. and we will work with you to craft a group health insurance plan that is best suited for you and your employees.
Group Dental and Vision Insurance
Lutz Ventures Insurance Services, Inc. provides you with access to a variety of dental and vision plans to include in your employee benefits. We can walk you through the different plans available, costs and coverage, and assist you in providing comprehensive coverage for your most valuable assets - your employees.
EMPLOYEE BENEFITS
Selecting and managing your employee benefits program can feel like running a business within a business because of the complexities, mandates,and regulations surrounding these programs. We go the extra mile to ensure your employee benefits program is valuable to you AND to your employees. We will never try to “sell you” on a product – rather, we educate you so you can make the best decision for your employee benefits program.
Because there are so many uncertainties around what type of plan to provide, what the cost will be, how the plan will be administered, and whether providing a plan is legally required or necessary for the benefit of your business, health insurance is often one of the largest headaches for any Human Resources Department, whether you have 5 employees or 5,000 employees. Changes to the rules and regulations concerning employee benefits are constantly occurring and it can be overwhelming for business owners who are trying to stay compliant while managing overhead and keeping employees happy and healthy.
1. As a business owner, what do I need to know about health insurance requirements?
Depending on the size of your business, you may be exempt from providing health insurance to your employees. For those that are required to provide health coverage, and those that choose to provide health coverage despite being exempt, there are a couple of minimum requirements that must be met, including the following: (1) It must meet the benefit, coverage, and affordability standards set out in the Affordable Care Act (“ACA”); (2) All eligible employees must be offered some form of health insurance within the first ninety (90) days of their employment.
2. Does my business have to provide health insurance under the ACA?
Small businesseswith LESS THAN FIFTY (50) full-time employees (or the equivalent in part-time workers) DO NOThave to provide health insurance under the ACA.Since most small businesses fall into that category, this means most are exempt. However, if you have MORE THAN FIFTY (50) full-time employees, you ARE required by law to provide health insurance.The caveat to this is that laws change often, especially as political administrations change, so itis imperative for businesses to have measures in place that will allow them to keep up with the latest regulations. Those measures could include subscribing to industry publications or newsletters, consulting with legal experts, or reading your HR software vendor’s blogs.
3. What are the benefits of providing health insurance to my employees?
Even if you are under no legal obligation to provide health insurance to your employees, there are a quite a few reasons to consider it. First, providing health insurance can help you attract qualified employees, as job-seekers often prioritize employee benefits packages during their search.Even if your business is not able to offer the same compensation as a larger organization,this can often be made up by offering an attractive benefits package, including health insurance. In fact, almost two-third (2/3) of businesses provide health insurance employees to attract and retain workers. You’re also investing in your employees’ health, which directly affects time and production. Employees that have sufficient health insurance are more likely to seek medical care, resulting in healthier, happier, more productive employees.