Coronavirus (COVID-19) Employer Response Resources

Increasing buying power to access better employee benefits

buying employee benefits

Providing employee benefits is an essential way of attracting and retaining employees. However, funding employee benefits has proven to be a complex and high-risk task, subject to unpredictable cost inflation, frequent changes in legislation, and confusion with healthcare reform.

Employers must maintain full knowledge of the rapidly evolving employee benefits market, and unless they have thousands of employees, they cannot leverage the economies of scale to manage costs and keep their benefits under control. For this reason, increasing buying power is often the best way for businesses to access better employee benefits.

Staff Leasing offers small and mid-sized businesses access to high-quality employee benefits at affordable prices. By leveraging the buying power of our large client base, we keep employer insurance premium costs down so you can provide your employees the protection they need without placing undue stress on your bottom line.

Prioritize employee health and well-being

Medical professionals agree that workplace productivity increases when employees are healthy and have access to high quality insurance plans and healthcare. By providing your employees with a full range of insurance options, you demonstrate a commitment to their overall well-being and help ensure a more loyal and productive workforce.

The PEO advantage

If you looked into employee benefit plans in the past, chances are you were given expensive price tags and minimal coverage. When you enter into a PEO relationship, you gain access to collective buying power. This allows the PEO to negotiate on your behalf, provide you and your employees with high-quality medical, vision, and dental coverage at affordable rates, and administer the program for your company.

Medical Insurance

Finding cost-effective medical insurance that gives your employees access to quality care is an increasing challenge for U.S. companies. For small and mid-size organizations with little buying power, affordable medical insurance plans often carry high deductibles and offer little to no coverage for day-to-day care, and higher-quality plans with more comprehensive coverage are simply too expensive for employers and their employees. But it doesn’t have to be this way.

If you are struggling to secure quality medical insurance at a price that makes sense for you and your employees, a PEO could help. By pooling employees across our client companies, we are able to exercise serious buying power.

Dental Insurance

Without access to dental insurance, a rising number of people are neglecting oral healthcare. Dental issues have been linked to other medical conditions that, if left unchecked, can develop into larger problems. Providing your employees with affordable dental care means you are potentially helping them to prevent serious health issues down the road.

Vision Insurance

According to the National Eye Institute, approximately two-thirds of Americans use some form of vision correction, whether it’s glasses or contact lenses. Vision insurance helps to offset the cost of eye exams, lenses, and frames for your employees and their family members, and it provides another measure of relief in healthcare costs.

Life Insurance

Life insurance benefits help employees protect their loved ones. This is a key benefit that is often overlooked, but it helps to attract and keep quality employees. Your business and employees are unique, and you can customize your group life insurance to make it the right match for you.

Retirement Plans

401(k) plans allow employees to save and invest their money using pre-tax payroll deductions. If you found the option of a retirement plan to be too expensive in the past, we can help make it a reality today. You can offer your employees the opportunity to take control of their retirement without breaking the bank.

Take the next step

Small and mid-sized companies don’t have to settle for less when it comes to employee benefits packages. Get in touch today to find out how tapping into the buying power of Staff Leasing can help you offer your team competitive employee benefits. We’ll create the perfect mix of benefits from a range of packages and solutions to meet your employees’ needs and your company’s budget.

Like this article?

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
Share on print
Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkedin
Share on pinterest
Share on Pinterest
Share on email
Send as Email
Share on print
Print Content
Read more

Submit a support request

Provide some details and our customer success heroes will get back to you as quickly as possible.

or, give us a call during business hours

Connect with our team