3 Ways Office Employees Can Get Better Insurance

Does your current employee benefits and life insurance package make you feel more appreciated for the work you do? While the Department of Labour’s Office of Workers’ Compensation Programs (OWCP) offers various compensation programs (that provide wage replacement benefits, medical treatment, and other benefits) your employer’s health insurance programs may not fully take care of you or your family.

Employee insurance

Administering insurances for HSAs, COBRA, or CDH accounts can be a headache and logistics nightmare. Especially if you’re an employee who doesn’t know what you rightfully deserve in terms of benefits and health plans.

1. Employee Wellness Programs

Wellness Programs are expected to have a huge “breakthrough” in 2018. These programs are often featured with high-deductible health plans and Health Savings Accounts (HSAs). This is because they provide a health screening, and then use the results to help participants find specific programs that address their specific health problem.

Employers who offer Wellness Programs in the workplace are directly responsible for improving their workers’ lifestyles, making happier, healthier workers who are more productive at work. Therefore, it’s vital for your healthier lifestyle to join a wellness program – especially if your business offers such a benefit.

2. Talk To HR

Benefits Administrators are a source of information for different benefit programs (including life insurance, health benefits, 401(k) benefits, and others) and process applications to all workers. Those in charge of Benefits Administration also handle any benefits issues and process workers’ injury claims. They are Human Resource professionals. Your lifestyle and health are on the line while you are employed. It is your duty to yourself to inquire with your benefits administrator about any and all possible questions you may have regarding anything about work programs.

3. Compare Benefits

Choosing the least-expensive package may make fiscal sense for you and the company. It’s undoubtedly confusing to wade through all possible packages and price levels (bronze, silver, gold, platinum). Choosing the least-expensive package takes away the headache of it all. But, in trying to save time and money, you may be actually hurting yourself when it comes time to reap those benefits. That’s why it’s worthwhile to compare benefits your company offers against other companies and sectors.

For example, PTMoney revealed a list of 10 best part-time jobs with benefits. How does your health insurance compare against these?

  • Aerotek includes dental and vision coverage; spouses and dependent children are eligible for inclusion; and employee discounts on car rentals, electronics, entertainment, etc.
  • Chico’s FAS benefits make you eligible for purchasing limited medical, vision and dental coverage; 401(k) with matching contributions; and paid holidays.
  • Costco Warehouse offers life insurance, short & long-term disability insurance, and flexible spending. Since Costco stores have in-store pharmacies and vision centers, employees can use their vision care and drug benefits (including discounts).
  • JP Morgan Chase benefits match 401(k) contributions, and include life plus disability insurance, and after one year of employment are included in the JP Morgan Chase retirement plan.
  • Staples benefits offer 10% employee discount on purchases, insurance (dental, vision and health) and a 401(k) plan that matches 3% if you contribute 6%

Conclusion

It’s easy to be overwhelmed by the insurance process. Whether you’re an employer or employee, the help of a professional insurance broker or licensed independent agent can be a life-saver. Brokers find clients the best policy through comparison “shopping” and insurance agents are licensed (by a state) to sell insurance for several specific insurance companies.

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