While planning a robust employee insurance program, one aspect often overlooked is the inclusion of accident plans. Employee Retention Benefits (ERB), a trusted insurance provider in Los Angeles, CA, emphasizes the importance of accident insurance. Such plans play a critical role in enhancing an organization’s employee benefits package, boosting employee retention, and providing essential protection.
Accident Plans – What Are They?
Accident insurance is a type of financial product providing a cash payout in the event of an accident leading to injury. This coverage comes into play to help cover unexpected expenses not fully covered by traditional health insurance.
Why Are Accident Plans Important?
There are a few key reasons accident insurance plans should be top of mind when developing a bulletproof benefits package.
- Covers Unexpected Expenses: Accident plans can provide a safety net for employees by covering costs that may not be fully protected under traditional health insurance, such as deductibles, copays, and non-medical expenses related to an accident.
- Employee Retention: Providing a comprehensive benefits package containing accident insurance is a valuable tool for retaining top talent. It shows employees their employer is invested in their well-being.
- Tax Efficiency: Accident insurance premiums are typically paid with pre-tax dollars, which can offer employees potential tax savings.
ERB’s Role in Offering Accident Plans
With more than 50 years of experience in the employee benefits business, ERB provides customized accident insurance solutions tailored to each organization’s unique needs. We assist companies in seamlessly integrating accident insurance into their existing benefits packages.
Benefits for Employers
The inclusion of accident plans does not only benefit employees; there are also advantages for employers. It enhances the competitiveness of your benefits package, making your organization a more appealing workplace and thereby aiding recruitment and retention efforts.
Accident Plans vs. Workers’ Compensation
It’s crucial to understand accident insurance differs from workers’ compensation. While workers’ compensation covers injuries on the job, accident insurance covers injuries that can happen anywhere, anytime – making it a more comprehensive option.
Taking the Next Step with ERB
Navigating the world of employee benefits can be complex. However, with a trusted partner like ERB, you can feel confident in your ability to provide a benefits package genuinely serving the needs of your employees. Whether you’re in the early stages of establishing your benefits or looking to enhance your current offerings, we are here to assist.
When considering adding an accident plan to your employee benefits package, it’s essential to remember the impact it can have on your employees and your overall business.
Including such a plan demonstrates a concern for the well-being of your employees, giving you an advantage in the market. Additionally, it provides security for your employees if they encounter an accident.
Contact ERB today if you are in Los Angeles, CA, and are interested in exploring accident insurance options or other employee benefits.
We are here to assist you in creating an employee benefits program aligning with your organization’s needs and goals while enhancing employee satisfaction and retention along the way. Remember, when you take care of your employees, your business flourishes.
