Small operations can retain some personnel when they offer benefits. When it comes to the best small business employee benefits in Fort Smith, AR, there is an array of products to choose from. There are four traditional ones, and owners can customize each plan to fit a company’s needs.
Medical Insurance
Health insurance is probably the number one benefit employees look for when career shopping. If a small business owner can provide it, it can help them compete against big-box retailers. Basic medical insurance typically covers doctor’s appointments and hospitalization. It can also include dental and eye care.
Health Savings Accounts
These accounts let employees set tax-free funds aside to pay for healthcare. The employee can spend the money on deductibles, prescription drugs, and medical appliances. This account can help manage that expense if a company offers medical insurance that has a high deductible.
Life Insurance
Life insurance protects the individual’s family in the event of their death. This peace-of-mind policy can comfort an employee who is the household’s sole breadwinner. Some plans cover the loss of body parts and paralysis.
Retirement Plans
Financial advisors can set up retirement accounts for business owners and their employees. As far as small business employee benefits in Fort Smith, AR, this one probably ranks right up there with medical coverage. Owners can offer their crew 401(k)s, and some businesses might qualify for 403(b)s.
Disability Insurance
Heads of households may need disability insurance. These policies protect their income when they become injured or seriously ill. Owners can couple it with an accident plan that will pay for medical bills.
Disclaimer:
Securities are offered through Avantax Investment Services℠, Member FINRA, SIPC. Investment advisory services are offered through Avantax Advisory Services℠.
Insurance services are offered through an Avantax affiliated insurance agency.
