The Benefits Your Company Offers - At No
Direct Cost To You
figure below outlines how your firm and
your employees benefit financially from
implementing supplemental insurance.
the left box, we see the common way of
paying for premiums. In the right box, we
see the advantage of pre-taxing the
program. You can see that both parties
benefit from this arrangement.
employers may object to having benefit
presentations "on the clock".
This illustration (light green) includes
the calculation of the cost of having a
presentation done "on the
clock". These are "soft
costs" as there is no actual charge
for the presentation. The same goes for
the "soft cost" of an
individual follow-up meeting.
figure shows a typical return on
investment for a business by implementing
a plan. We haven't found that you can
boost the ROI by skipping the soft costs
since there is a coresponding decrease in
yield. It is a cost of doing business
correctly and is required to optimize
your savings. When done properly, our
statistics show an average 60%
participation rate and our premium figure
is based on industry averages.
mileage may vary, but this figure
illustrates the benefit for both parties
to consider implementation.
Your Excel Template Calculator Here
this illustration we assumed that your
firm currently has a cafeteria plan. This
is why we do not show any additional
savings in the "Other Plans under
Cafeteria" slot. If your firm does
not have a cafeteria plan, you may save
additionally by placing core health
programs in a pre-tax Cafeteria plan.
Generally there is a small charge to set
up a plan, but often it is free when
these programs are offered.
free quotation from The Benefit Network!
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to Select A Voluntary Carrier
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