Offering dental and vision insurance to employees is an inexpensive way for small businesses to show their dedication to the well-being of their workforce. These supplemental benefits cost companies little and save employees substantial amounts in pre-tax deductions from their paychecks.
While many companies incorporate these add-ons into their healthcare coverage plans, some businesses might have more financially feasible options.
Lower Health Care Costs
As a business owner, you want to provide your employees with comprehensive health benefits, dental and vision coverage as an integral part of a compensation package. Finding health coverage may be easy but finding dental and vision insurance for small business to offer to employees can a more challenging task but well worth the effort. Offering these supplemental benefits is a great way to communicate how much you value them to your employees.
Additionally, offering dental and vision benefits is cost-effective for small businesses. Compared to medical plans, which can cost hundreds of dollars per month, dental and vision plans are significantly less expensive. These supplemental benefits are also eligible for tax deductions, which can help reduce your group health plan costs.
While you may be concerned about the initial cost of adding dental and vision coverage to your employees’ health benefits, the long-term returns benefit your company. Healthy and happy employees are more productive and can work longer hours without taking time off. They’re also more likely to come to work without any distractions like aches, pains, or other health issues, which can affect their output.
Offering dental and vision benefits can also improve your ability to attract and retain talent. Many people consider healthcare benefits as one of the top factors when deciding on a job, and having access to dental and vision insurance is essential for keeping these services in their budget.
Increased Productivity
While offering health insurance is often the first step in attracting and retaining employees, many small business owners overlook ancillary benefits like dental and vision. However, these add-ons cost businesses relatively little compared to medical coverage and save employees significant money over time. That makes them a highly effective way to show employees that you truly value them, provide them with the tools they need to care for their families, and boost productivity.
Unlike the more common medical insurance plans, typically included in a more significant health package, dental and vision policies are available for purchase as standalone coverage. This allows you to offer a full suite of benefits while also keeping the overall costs low. You can often find a better deal on vision and dental coverage by working with an independent agent specializing in these benefits.
Employees appreciate the opportunity to pay less for their insurance and feel greater control over their financial health. As a result, they are likely to work harder and be more productive. This is why many employers who offer health insurance report a higher morale among their workforce.
In addition to increasing employee productivity, a comprehensive benefits package, including vision and dental insurance, will help you recruit top talent. Studies show that employees value additional health benefits more than small pay raises.
Increased Employee Satisfaction
Many small business owners consider health insurance a key benefit for attracting and retaining quality employees. However, some employers may need to pay more attention to the importance of offering vision and dental coverage. While these supplemental benefits cost less than medical coverage, they can save your employees and company significant amounts in the long run.
In addition to the obvious productivity benefits, offering dental and vision insurance plans will also increase employee satisfaction. Studies show that satisfied employees are more likely to stay with a job longer, which is a great way to show your team that you care about them. Additionally, happy employees are more productive since they’re less distracted and stressed about their personal lives.
According to a recent study, dental insurance is one of the most sought-after employee benefits—second only to group health insurance and ahead of work-from-home options and flexible hours. Offering a competitive dental plan can help you attract and retain top talent.
While it’s true that dental and vision insurance can be costly, there are ways for you to offer this valuable supplemental coverage without breaking the bank. For example, a professional employer organization (PEO) allows you to provide dental and vision insurance to your employees for an affordable fee. You can pay these costs or let your employees contribute via pre-tax deductions.
Increased Employee Engagement
A complete small business benefits package is a great way to show your employees you care about them. As a result, it can help you attract and retain the best employees. This includes dental and vision insurance plans. These ancillary benefits are also relatively affordable and accessible to add to your overall group health plan, allowing you to provide the value your employees deserve without breaking the bank.
While you may already offer group health coverage to your employees, offering additional benefits like dental and vision coverage can be an excellent way to boost morale and improve employee engagement in the workplace. When your employees are engaged, they’re more likely to be happy at work and less likely to look for other jobs. As a result, you can expect to see better productivity and fewer lost work days.
Offering dental and vision coverage is one of the best ways to encourage your employees’ well-being, as many medical professionals link oral and eye health with overall wellness. In addition, these preventative benefits can save you money on long-term health claims by spotting severe issues early.
