Employee Group Benefit Insight

Someone once said to make people understand the value of life insurance, you have to back the hearse up to the door. Nothing so drastic is required, but it helps to have stories to illustrate value, which is why employee benefit specialist Lori Power wrote this informal reference guide to help human resources professionals and business owners learn about employee group benefit plans. She answers questions such as: When should an employer consider adding a benefit plan? How can a company use a benefit plan as a compensation tool? How can a company better manage the escalating costs? Why is a broker necessary to get a quotation? She also shares twenty advantages of employee group benefits as well as various insurance industry scenarios told through real events experienced by real clients. If youre a business owner, human resources professional, decision maker or plan administrator, youll be better equipped to navigate benefit plans with the lessons in this guide.

On the heels of Insight, an informal reference guide to communicate with employees about benefits, this guide takes a deeper look at how and why Canadian businesses should establish a customized benefit plan. Though often referenced as if it is single entity, employee group benefits is, in fact, a group of individual insurance products that are grouped together for a group of employees linked through common employment. Like building a home, benefits form a foundation of insurance for the average Canadian employee – and it’s sometimes their only access to life and disability coverage – not to mention reimbursement for expensive medications. In this guide, get the answers to questions such as: Why should companies offer an employee group benefit plan? What steps must employers take to select the right group benefit plan? What benefits do employees and businesses receive when a group benefit plan is offered? The author also explores why creating a total compensation package through a well-developed, custom-designed employee group benefits program might be the answer to control costly staff turnover. Whether you’re a business considering group employee benefits or someone selling insurance who wants to be more effective, you’ll find Perspective a useful resource.

"The Handbook of Employee Benefits, Sixth Edition, features the knowledge and insights of more than 50 top benefits experts. It is filled with new and updated cases and real-world examples of benefit plan successes and failures." "The Handbook of Employee Benefits gives every organization and its HR practitioners and consultants the knowledge and tools they need to create plans that benefit the greatest number of employees, while allowing employers to maintain fiscal integrity and competitive advantage."--BOOK JACKET.

The essential resource for designing and implementing employee benefits—bringing you up to date on critical new industry changes For nearly three decades, HR professionals and consultants have depended on The Handbook of Employee Benefits for authoritative answers to their questions about designing and implementing competitive employee benefits packages. Covering everything from general objectives to costs, this classic reference brings you up to date on critical changes driven by legislative developments, such as the new health-care reform law enacted by the passing of the Patient Protection and Affordable Care Act. The seventh edition of The Handbook of Employee Benefits features the knowledge and insights of the leading scholars and practitioners in the field. Filled with new and updated information and real-world examples, this edition focuses on health and group benefits: Health Benefits: health-care reform’s impact on employee benefits, new approaches to cost containment, how to access quality care, consumer-driven health-care plan designs along with dental, behavioral, prescription, and long-term care programs Life Insurance: group term, universal life, and corporate-owned life programs Work/Life Programs: traditional time off and family leave, child and elder care, and assistance for education, financial planning, and voluntary benefits Social Insurance Programs: Social Security, Medicare, and workers’ and unemployment compensation programs Group and Health Benefit Plan Financial Management: federal tax laws, funding health benefit plans—insured, self-funded, and captive arrangements Employee Benefit Administration: flexible benefit plans, fiduciary liability issues, and communications Issues of Special Interest: retiree welfare benefits, small company benefits, multiemployer plans, and international employee benefit planning An innovative, efficient employee benefit program has become one of the primary prerequisites to success in today’s lean business battleground. The Handbook of Employee Benefits provides the knowledge and tools you need to create plans that benefit the greatest number of employees, while allowing employers to maintain fiscal integrity and competitive advantage.

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