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  • In today’s competitive job market, employers are constantly looking for ways to strengthen their employee retention rates and improve morale. While there are a variety of solutions for low retention and morale, enhancing your benefits offerings with supplemental insurance is a great place to start.

    Supplemental insurance plans, also referred to as voluntary benefits plans, aren’t required by law but do provide valuable benefits that can be used to complement your group health insurance plan. But what exactly are these plans, and how do they benefit both parties?

    What Are Supplemental Insurance Plans?

    Supplemental insurance plans are additional insurance policies that employees can purchase to complement their primary health insurance coverage. These plans are designed to cover health costs that fall outside of normal health insurance coverage, such as copayments, deductibles, and other out-of-pocket costs.

    These plans can include:

    • Life
    • Dental
    • Vision
    • Accident and critical illness
    • Long-term and short-term disability
    • Pet
    • Pre-paid legal
    • Home and auto
    • Telehealth

    If offered, employees can opt in to these plans. For example, not every employee may want or need a pet insurance plan, but an employee with a dog may be very interested in coverage.

    Benefits for Employees

    Offering supplemental insurance plans is a great perk for employees and shows they are cared for and valued.

    • Greater control: With supplemental insurance plans, employees can customize their benefits packages to fit their own needs as well as their spouse’s or children’s needs. They’ll also have greater control over how they utilize their benefits, helping them manage and utilize their plans more effectively and efficiently.
    • Access to specialized care: Plans like dental and vision insurance allow employees to access specialized care without worrying about high out-of-pocket costs. This encourages regular check-ups and preventive care, contributing to overall health and well-being. Supplemental insurance plans are beneficial because employees only pay for the specific care they need, rather than covering costs for services that other employees might require.
    • Flexibility: Employees can choose the insurance that best suits their needs and budget. This flexibility allows them to tailor their insurance coverage to their specific health requirements and financial situation.
    • Broader coverage: Depending on the plan, supplemental insurance can provide employees with broader coverage than a group health plan, ensuring they are protected against unexpected medical expenses that their primary insurance might not cover. This added layer of protection can be crucial in maintaining financial stability and peace of mind.

    Benefits for Employers

    As an employer, providing supplemental insurance for your workforce has several benefits for your business, including improving workplace morale, company loyalty, and your company’s bottom line.

    • Attracting top talent: Offering supplemental insurance as part of a benefits package can make a company more attractive to potential employees. In a competitive job market, comprehensive benefits can be a deciding factor for candidates choosing between job offers.
    • Employee retention: Supplemental plans can be a powerful tool to retain top talent. Providing robust benefits can increase employee satisfaction and loyalty because when employees feel valued and supported, they are more likely to stay with the company long-term.
    • Improved productivity: Healthier employees are more productive. By offering supplemental insurance, employers can help ensure their workforce has access to necessary medical care, reducing absenteeism and improving overall productivity.
    • Savings: While offering supplemental insurance can increase your premiums, it can lead to long-term savings. Healthier employees mean fewer sick days and lower health care costs, which can positively impact the company’s bottom line.

    Group Management Services and Supplemental Insurance

    Supplemental insurance plans are a valuable addition to any benefits package, offering significant advantages for both employees and employers. By providing enhanced coverage, financial security, and access to specialized care, these plans contribute to the overall well-being of employees.

    If you want to offer supplemental insurance for your employees, but aren’t sure where to start, consider partnering with Group Management Services (GMS), a professional employer organization (PEO). With the help of our knowledgeable team, GMS can help you offer great benefits and supplemental insurance packages at an affordable price. We offer a higher collective buying power that can lower your premiums and provide benefits comparable to those of a Fortune 500 company.. We will help you find the right package to offer to your employees and walk you through the entire process. that of a Fortune 500 company. We will help you find the right package to offer to your employees and walk you through the entire process.

    Contact us to learn more about how we can help your business!

  • It’s time to enter a captivating journey into the world of pet insurance, where wagging tails, fuzzy cuddles, and heart-melting purrs meet the security of comprehensive coverage. When it comes to our pets’ health, no pet owner wants to compromise on the quality of care. However, veterinary costs can quickly escalate, especially in the case of emergencies, surgeries, or chronic illnesses. This is where pet insurance steps in. As a vital resource, pet insurance can alleviate financial burdens and ensure employees can provide their furry friends with necessary medical attention without hesitation.  

    When employers offer access to pet insurance, they’re extending a helpful hand to their employees, providing them with peace of mind. Employees no longer need to worry about outrageous bills derailing their financial stability or making difficult decisions based on their budget. Instead, they can focus on what matters – ensuring their pets receive the care they need to lead happy and healthy lives.  

    Pet Insurance Basics

    Pet insurance is a health plan the owner pays monthly or annually in exchange for reimbursement of eligible veterinary expenses. When a vet sees a pet for a covered condition, the owner pays the vet in full and then submits a claim to their insurance company for reimbursement. Most pet insurance plans are for dogs and cats, but a few pet insurers offer coverage for other animals.

    The following is what is commonly covered by pet insurance:

    • Accidents and injuries such as broken bones and ACL ruptures
    • Behavioral therapy
    • Chronic illnesses such as allergies, digestive problems, and skin conditions
    • Common illnesses such as ear infections, vomiting, and urinary tract infections
    • Hereditary conditions
    • Prescription medications
    • Procedures
    • Serious illnesses such as cancer and diabetes
    • Testing and diagnostics
    • Wellness procedures

    Ultimately, pet insurance acts as a safety net, shielding pet owners from the financial strain that comes with unexpected veterinary expenses. As costs increase for everything from grooming to veterinary care, 47% of pet parents report having had some kind of pet-related debt. With the rising costs of advanced medical treatments, surgeries, and medications, pet insurance provides invaluable peace of mind.

    Financial Security In The Face Of Uncertainty

    When it comes to our pet’s health, no expense should be spared. However, unforeseen accidents or illnesses happen and can send us spiraling into uncertainty. The thought of outrageous vet bills can cause sleepless nights and unimaginable stress. That’s where pet insurance becomes your support system, offering a lifeline of financial security in the face of uncertainty.

    By providing a safety net for our furry companions, pet insurance ensures that no matter what unexpected twists and turns life may bring, we can focus on giving our pets the care they need without worrying about the financial strain. Having quality pet insurance can empower us to face any medical challenge that comes our way by knowing that our pets’ health and financial stability remain intact.

    The Benefits Of Offering Pet Insurance

    In the ever-evolving landscape of employee benefits, pet insurance has emerged as a game-changer in attracting and retaining top talent. As employers strive to create a workplace environment that values the well-being and happiness of their employees, pet insurance stands out as a compelling benefit with undeniable perks.

    By offering pet insurance as part of a comprehensive benefits package, employers demonstrate a deep understanding of the profound bond between humans and their pets, fostering a culture of compassion and empathy. This goes beyond the surface-level perks – it signifies a commitment to supporting employees’ personal lives and acknowledges the significant role that pets play in their overall well-being. By embracing pet insurance, employers not only enhance employee morale but also attract talent, reduce turnover rates, and create a workplace where employees feel valued and cared for. In the competitive job market, where the battle for top talent is fierce, offering pet insurance is not just an added benefit, but it’s a strategic move that elevates the employer brand, cultivates loyalty, and builds a vibrant and inclusive workplace community.

    Get Started Today

    Pet insurance sounds like a win-win, right? It is! And we’ve got the solution you’re looking for. As a professional employer organization (PEO), we offer various ancillary benefit options, including pet insurance. Through our partnership with MetLife Pet Insurance, we now provide robust annual benefits options, chronic care coverage, and no lifetime or per-incident limits for pets of all ages. You can customize your deductible and reimbursement rates to work best for your pet’s needs and your budget. In addition, we have our Total Pet Plan pet benefits, which is a discount program where you can save on Rx for your pet, receive discounts at participating vets, in-house medical services, telehealth service for your pet, and lost pet recovery service.

    Denise O’Dear, GMS’ Benefits Account Manager, added, “Let’s face it, our pets are part of the family! MetLife offers affordable insurance for your pets. With lots of options, you can choose a plan that best fits your financial needs. Help your employees ease the financial stress that comes with paying for their pet’s covered veterinary care, so they can stay engaged and focused at work.”

    Health care for animals can be expensive, but pet insurance can help you cover those expenses and give your pet the care you want, and they deserve. Pet insurance is just the beginning of our supplemental health care coverage options. Interested in learning more about our health care coverage? Contact us today.

  • It’s no secret that health insurance is one of the most important employee benefits. Insurance is also one of the most expensive benefits, forcing small business owners to balance an attractive benefits plan with the costs of offering different medical plans.

    While it can be easy to focus on group health insurance, it’s essential to remember another critical benefit – dental insurance. Let’s break down what types of dental plans employers can offer and how they can benefit your small business.

    What Dental Insurance Options Are Available For Small Businesses?

    There are various options for employer-sponsored dental coverage available for small businesses. These types of dental insurance plans include:

    • Preferred provider organizations (PPO) – Users can visit a network of providers for dental care. Individuals will have co-payments for procedures and can meet a deductible.
    • Dental health maintenance organizations (DHMO) – Users pay their dental network a set monthly fee for preventative care whether they use it or not. A set amount of annual services are covered within that fee, while others require copays or are not covered.
    • Discount or savings plans – Users pay a monthly premium to receive discounts on dental services, whether they are in network or not.

    How Much Does Small Business Dental Insurance Cost For Employers?

    It’s no secret that offering certain benefits is an ample expense for small business owners. Group health insurance alone can cost a business thousands of dollars per employee as premiums continue to rise. Fortunately, dental insurance is a much smaller investment than some other types of benefits.

    As with group health coverage, the exact cost of dental insurance will change for each employer. Dental insurance costs typically vary from $15 to $20 per employee per month depending on the plan of choice and whether an employee needs single or family coverage. Several factors will affect your overall dental premiums, such as your group size, the overall wellness of that group, and other criteria. Once you have your per-employee premium, you can extrapolate that monthly rate to determine your annual expected dental insurance costs.

    Four Reasons Why Small Businesses Should Offer Dental Insurance

    Employees aren’t the only people who benefit from dental coverage. Below are four key reasons why group dental insurance is advantageous for both employers and their workers.

    Recruitment and retention

    According to MetLife’s 2022 Employee Benefit Trends Study, 72% of employees named dental insurance as a must-have benefit. That placed dental insurance as the third-most desired benefit behind group health insurance and a 401(k) or some other form of retirement savings.

    While small business group dental insurance isn’t required by law, it has become a staple for competitive benefits packages across the U.S. That makes offering dental insurance an important, relatively cost-effective benefit that can help your business attract and retain talent.

    Overall employee health

    Dental coverage does more than just help your employees address their oral health. Regular dental visits also play an important role in helping employees stay healthy from head to toe. According to the Mayo Clinic, poor oral health has been linked to several chronic diseases and other serious health issues, including:

    • Diabetes
    • Heart disease
    • Endocarditis
    • Stroke
    • Pneumonia
    • Osteoporosis
    • Pregnancy and birth complications

    By giving your employees the opportunity to receive regular cleanings and other dental care, you can help them maintain their overall health. Healthier employees tend to not only be happier employees but also people who are less likely to use their group health plans for various other ailments.

    An employee covered by small business dental insurance at a routine cleaning.

    Employee productivity and availability

    Simply put, employees who have to take more sick days are likely to be less productive than workers who are in good health. Offering dental insurance is another way that employers can support the overall health of their company.

    Even if your employees are able to come in and work while dealing with tooth pain and other issues, poor health can make employees less effective. Aches, pains, and stress can cause employees to lose focus on the job. According to the Centers for Disease Control and Prevention, personal and family health problems cost U.S. employers $1,685 per employee per year in productivity losses.

    Long-term savings

    Investing in dental insurance for a small business can make a direct impact on your bottom line. To start, healthier employees are less likely to take time off because they’re sick or for additional doctor’s appointments. That added productivity alone can help you get the most out of your workforce.

    Preventative treatment allows you to get ahead of health issues in the long run. Reducing an employee’s chances of developing more severe conditions can save you from costly claims and productivity losses in the future. Research published in the National Library of Medicine suggests that health-related productivity costs are 2.3 times greater on average than medical and pharmacy costs alone. That number alone can make the added investment worth bolstering your benefits plan.

    Help Your Employees Stay Healthy And Productive

    A healthy workforce is happier and more productive workforce. Giving your employees supplemental plan options such as dental insurance is one way that you can strengthen your business. Of course, it’s not always easy to manage benefits administration and every other critical HR function on your own.

    As a Professional Employer Organization (PEO), GMS can leverage its collective buying power to help you offer quality health care benefits at better, more affordable rates. We also give your business access to proprietary technology and dedicated customer service to save you valuable time that you can focus on your business.

    Ready to offer dental coverage to your employees? Contact GMS today to learn how we can help you get the most out of your benefits package.

  • Summer days make for more than just fun in the sun. Summer weather leads to a spike in outdoor jobs, hotter conditions, and workplace injuries. While these issues are a year-long concern, the Bureau of Labor Statistics reports that the rate of workplace injuries increases during the summer season. 

    More injuries mean more workers’ compensation claims, and more claims mean that your company will have to pay a higher workers’ compensation rate. However, business owners can take steps to help lower workers’ compensation rates by employing loss prevention strategies that can help reduce the risk of accidents in the workplace. 

    Image of an injured employee. Contact GMS about workers’ compensation risk management strategies.

    Put the Right Workplace Safety Programs and Strategies in Place

    4.1 million people suffer workplace injuries each year. Preventative measures can help limit the risk of accidents in your workplaces. Some measures include:

    • Safety training programs
    • Development of safety manuals
    • Development of safety guidelines for employees
    • Workplace inspections and guidance on OSHA compliance
    • Development of drug-free and drug-testing programs

    Employers pay roughly $74 billion dollars each year for workers’ compensation claims. Simple measures such as safety programs and manuals can help teach your employees about proper procedure so that they don’t unknowingly put themselves at risk. Inspections and testing policies can help make sure that these procedures are followed

    Have a Team That Can Handle Claims Management

    No matter how many programs or safety measures you put in place, accidents can still happen. When they do, it’s important to have a team that can help you protect your business against bad claims.

    Group Management Services partners with businesses to help guide them through the claims process and create loss prevention strategies that minimize risk. Contact us today to learn more about how we can make your business safer through workers’ compensation risk management.

  • A little extra protection can go a long way toward making your employees happy. Traditional group health plans are a great start for many of your employees, but some members of your team or potential recruits may need additional coverage.

    Supplemental insurance plans allow business owners to attract and retain talented employees through additional coverage. A Professional Employer Organization can provide you with extra insurance options to benefit both you and your employees. 

    GMS can help keep and attract talented employees with supplemental insurance plans for businesses.

    How Supplemental Insurance Plans Benefits Your Employees

    One big benefit of supplemental insurance plans is that it can help ease the fears of your employees by covering additional expenses. Supplemental plans can help cover:

    • Deductibles
    • Copayments
    • Coinsurance
    • Medication costs
    • Out-of-network fees
    • Lost wages due to injury or illness

    These benefits will please employees who might be worried about costly charges. Partnering with a PEO like GMS can also give your employees a chance to pick and choose the additional insurance coverage they require; that way they don’t get charged for supplemental benefits they don’t need.

    How Supplemental Insurance Plans Benefit Business Owners

    If an employee is worried that his or her health insurance isn’t enough to cover what he or she needs, they may start looking for better coverage elsewhere. Even if they don’t leave, the worry over their coverage can impact the quality of their work and their morale. 

    Offering an employee peace of mind through supplemental insurance plan can ease their fears and give them more incentive to stay put. These plans can also make your company look much more attractive to potential recruits who will have to decide which business best fits their needs.

    Supplement Your Traditional Insurance Plan

    If your employees are clamoring for supplemental insurance, it might be time to reach out to GMS about what we can do to help you attract and retain good employees. Contact us today to learn more about how we can help you offer supplemental insurance.

  • Health Insurance renewals may be one of the most important decisions an employer makes each year. For most small businesses, group health insurance is one of the largest expenses they incur, meaning the process can be quite stressful. To help, we put together some guidance on the renewal period and what you can do to streamline the process for your business.

    Small business owners reviewing the different elements of the health insurance renewal process. 

    Why Do Renewals Happen on an Annual Basis?

    The renewal process is designed to give insurance carriers, employers, and employees the ability to make adjustments on an annual basis. However, those adjustments differ depending on the party involved. Insurance carriers use the yearly renewal process to keep plans compliant with any new regulations and calculate new health insurance plan premiums.

    As an employer, yearly renewals allow you to adjust your benefits plans as your business evolves. Over time, you may have grown or your employees’ benefits needs may change. Annual renewals allow you to add or adjust your plans, change contributions, and make any other changes to benefit both your business and your employees. 

    Likewise, your employees can use the renewal period to change their plan selection or renew the same plan as before. Potential changes include swapping plans if you offer more than one, adding a dependent, or even opting out to join a spouse’s plan.

    What are the Different Stages of the Health Insurance Renewal Process?

    The renewal process is made up of five main steps from start to completion. This process begins with health insurance carriers before turning to you and your employees.

    Stage 1: Reassessment 

    Before you see any new plan options, your insurance carrier needs reevaluate its new pricing for the upcoming year. This can  often involve the insurance carrier adjusting premiums because of new doctor’s fees, medical technology, general inflation, and other reasons. The insurance company will also assess your company for any change in risk levels and other factors that impact your potential premiums.

    Stage 2: Presentation 

    Once your insurance carrier reassesses its rates, it’s time to apply those rates to new plans. At this point, your insurance carrier will present you with different options for your company to use in the upcoming year.

    Stage 3: Selection 

    Now that you have a variety of plan options, you’ll want to figure out which is best for you and your employees. You’ll also need to determine how much your company will contribute to each employee’s plan after you decide on a plan.

    Stage 4: Employee enrollment 

    After you’re done making a plan selection and identifying contribution amounts, it’s time for open enrollment. At this point, you will present your employees with the plans you’ve chosen so they can weigh costs, compare coverage, and weigh any other factors that may impact their decision to enroll in one of your options or find coverage elsewhere.

    Stage 5: Completion 

    At some point, your employees will need to select a plan or opt out of your plans. Your insurance provider will then make sure that any eligible member of the company who selected a plan is effectively covered throughout the course of the new plan year.

    How Can I Prepare for a Smooth Health Insurance Renewal Process?

    While the renewal process may sound like a fairly simple five-step process, it can be anything but if you’re not careful. It’s important to prepare ahead of time to limit the stress renewals can place upon both you and your employees. Here are a few tips to help you get your company ready for renewal season.

    Communicate with your employees ahead of time

    It never hurts to give your employees advance notice about open enrollment. While some of your employees may be aware of your annual renewal season, others may not. As you or your health care provider go through the presentation and plan selection process, it’s good to send a message to your employees that open enrollment is approaching and share some basic info about what that means for them. This will help eliminate any confusion from employees who may not be as knowledgeable about insurance renewal season.

    Not only should you communicate with your employees ahead of the open enrollment period, you should also talk to them once they’re presented with new plan options. It’s good to educate eligible employees about any plan changes, whether it’s a new offering or something that’s no longer a part of the new coverage options. By explaining these changes, you can be upfront with employees, which can help mitigate any hard feelings from employees upset about surprise changes.

    Evaluate your company’s needs

    There’s a good chance that your company isn’t in the same position it was a year ago. Whether you’ve grown or not, you and your employees may have different health insurance needs than before. As such, it’s best to plan ahead to determine some specific goals for the plan selection process.

    As an employer, one of the first factors you need to identify is your budget. Has that number changed since this time last year? If so, that will likely impact the quality of the plan you select. You’ll also need to account for any potential rate increases given the aforementioned possibility of higher plan costs due to internal or external factors.

    You’ll also want to account for your employees as well. According to the Society for Human Resource Management, “56 percent of U.S. adults with employer-sponsored health benefits said that whether or not they like their health coverage is a key factor in deciding to stay at their current job.” In addition, 46 percent of that same group said their health insurance was the deciding factor or a major reason why they chose their current job. Health insurance is a key retention and recruitment tool, so you’ll want to balance your employees’ preferences with your budget to have a plan in place during the renewal process.

    Find the right coverage options for your organization

    One of the most important parts of the renewal process comes long before you’ve ever presented plans. Finding the right group health insurance partner plays a massive role in not only the quality of your benefits package, but also the cost of your premiums. Small and mid-sized businesses may be subject to higher premiums since they have fewer employees than big companies that can spread risk out across larger group sizes. Fortunately, a Professional Employer Organization (PEO) can help your company enjoy some of the same advantages as a big business. 

    At GMS, we represent tens of thousands of employees, which allows you to leverage our greater group buying power to attain more cost-effective insurance rates. In addition to getting more bang for your buck, we also offer supplemental insurance coverage to tailor your plan around your employees. Our experts can also take the burden of employee benefits administration off your shoulders, making sure your company is covered and compliant while you use your new free time to focus on other business matters.

    Ready to revitalize your health insurance coverage? Contact us today to talk to one of our experts about what we can do to protect you and your business.