Creative Benefit Solutions Employers Are Offering

Creating an Employee Benefits package that satisfies everyone’s wants, needs and budget can be challenging. There’s a lot that goes into it and no office is the same. But to meet the needs of today’s diverse, multigenerational workforce, companies need to offer benefit solutions that bring real value to their lives. Presenting a wide-range of options that addresses employees’ needs during all stages of life is becoming critical.

And with more people working from home this year, we’ve seen a bigger shift in what’s being offered.

In fact, we interviewed Barbara Ciudad, the Regional Sales Director for Greater San Diego Area Total Administrative Services Corporation (TASC), about creative benefit solutions they have available for employers right now.

What is TASC?

TASC is a leader in the health & wellness space consulting with insurance agents, brokers, and carriers. They help come up with unique — and compliant, benefits for employers & their teams. A few solutions they can help set up are:

  • Health & Wellness Reimbursement Accounts
  • Work from Home Reimbursement Accounts
  • Student Loan Assistance
  • Employer Funded Tuition Reimbursement Accounts
  • Pet Insurance / Pet Care Reimbursements

To learn how to set up these types of benefits, how they get funded, and the tax advantages for employers, watch the full video here.

Current Benefit Trends:

  1. Mental-Health and Well-Being Benefits. This is especially important right now with more people living and working from home, and playing the role of parent, teacher, employee, and more. If you’re interested in learning more about improving mental health right now, specifically for your children, we interviewed Dr. Emily Kierce, a Licensed Psychologist, for advice.
  2. Care-Assistance Plans for Employees’ Parents. More than one-sixth of working adults in the U.S. are also caregivers. Care assistance and flexible work options offer tremendous value for millennial employees.
  3. Gym Memberships or Wellness Reimbursements. Most employees spend all day working at a desk — leaving them physically and mentally drained. Having a fitness site on center or offering gym reimbursements can help improve an employee’s mental and physical health.
  4. Paid Parental Leave. Families want to feel supported rather than feel like they have to choose between their career or their family. Smart companies are now developing programs that enable a strong work and family to coexist with paid parental leave, fertility programs, and more.
  5. Childcare Assistance and Reimbursements. Childcare costs can add up quickly, and in the US, a majority of households have two working parents. Offering childcare services or assistance can help retain top employees while alleviating the financial burden of childcare services.

How Do These Offerings Add Value For My Team?

Insurance is just one tool in a very big box of benefits resources. By adding these additional benefits, employers are able to create a more comprehensive and valuable offering for their employees. This can also help increase employee retention and workplace satisfaction.

If you’re interested in learning more about these creative solutions you can incorporate into your employee benefits plan, give us a call so we can help you get started.

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