Insurance Savings and News You Can Use
Join the Conversation!

How Health Insurance and Other Benefits Can Help Your Bottom Line

Posted by David Ross on Sat, Mar 08, 2014

Providing employee health insurance and other benefits helps retain top talent. Do you believe employees are your most valuable asset? Contact us today for affordable employee benefits like health insurance, life insurance, and workers compensation insurance. We serve Philadelphia, Reading, Lancaster, Allentown, York, Lebanon, Pittsburgh, Erie, PA and beyond.Do you believe that your employees are one of your most valuable assets?  Do you think of your employees as an investment rather than an expense?  

The fact is that happy, engaged, and loyal employees work harder, provide better customer service, and stay with you longer. That's why great benefits, especially health insurance, can be crucial to attracting and retaining the best employees.

Consider these facts:

  • The average cost of recruiting, hiring and training a new employee is close to $4,000, according to an article in Entrepreneur Magazine.
  • The companies listed on Fortune’s ‘100 Best Companies to Work For’ list experienced stock prices that rose an average of 14% per year from 1998-2005, compared to 6% for the market as a whole, according to a study from the Jackson Organization. That's more than double the norm, and suggests a strong link between employee satisfaction and company performance.

If you truly value your employees, it's important to do more than just say that you value them, so prove it to them via their health insurance, life insurance, and other benefits!  If you don’t show you care about their needs, they'll be less motivated to care about your company or their work, and your bottom line will suffer as a result.  If you want to stand out as an employer and attract real talent, it’s important to do what you can to ensure that your employees are healthy and happy – both physically and financially.

Start with a Good Employee Benefits Package

A good employee benefits package is a great place to start.  Unfortunately, during these rocky economic times, many companies are tempted to cut employee benefits.  This “cost-saving” measure will most likely backfire on you by creating less motivated employees and a higher turnover rate.

Mandatory Employee Benefits

While some benefits are optional, all employers are required to provide employees with the following benefits:

  • Give employees time off to vote, serve on a jury and perform military service.
  • Comply with all workers' compensation requirements.
  • Withhold FICA taxes from employees' paychecks and pay your own portion of FICA taxes, providing employees with retirement and disability benefits.
  • Pay state and federal unemployment taxes, thus providing benefits for unemployed workers.
  • Contribute to state short-term disability programs in states where such programs exist.
  • Comply with the Federal Family and Medical Leave Act (FMLA).

Providing additional benefits, such as health insurance, dental, vision, and life insurance plans will attract better-qualified candidates, ensure higher retention rates, and increase your bottom line. 

We Can Help You Craft a Better Employee Benefits Package

Contact us for help in crafting a better employee benefits package that includes health insurance and life insurance.Contact American Insuring Group at (800) 947-1270 or (610) 775-3848 to discuss affordable health, life, and workers compensation insurance plans to make yours a better company that attracts and retains the high-caliber talent you need to excel in the marketplace.

Tags: Workers Compensation Insurance, Health Insurance Reading PA, Health Insurance Allentown, Health Insurance Harrisburg, Employee Benefits, Health Insurance, Health Insurance Berks County, Health Insurance Philadelphia, Health Insurance Lancaster, Commercial Insurance, Business Insurance

Business Insurance to Attract Employees and Protect Your Business

Posted by David Ross on Thu, Nov 14, 2013

Business Insurance that Attracts & Retains Employees

Business insurance to attract and retain employees and to protect your business, from key person insurance to insurance for better employee benefits. Available from American Insuring Group, serving Reading, PA, Allentown, Philadelphia, Harrisburg, York, Lancaster, Erie, Pittsburgh, PA and beyond for over 25 years.Great employees can be the fuel to move your business ahead of the competition. Dedicated employees add more and more value over time as they gain increased knowledge and experience. While everyone likes a company that offers great benefits, the best employees and job candidates are likely to view the quality of the benefits you offer as a compelling reason to join, remain at, or leave your firm.

With today's cost of purchasing individual insurance, employees are likely to view well-designed employer insurance packages as a deciding factor in selecting one company over another. Furthermore, strong benefits packages help retain your best employees, reducing the high cost of employee turnover.

Designing an Attractive Employee Benefits Package

That's why smart business owners create attractive employee benefits packages that not only include health insurance, but often life insurance, extended disability insurance, dental insurance, and generous retirement plans, among other options. Executive compensation packages may also include deferred compensation plans and higher levels of insurance coverage to retain your best talent. It pays to be well informed on the range of insurance options available to your business.  Your independent insurance agent can be a key resource to help you craft an employee benefits package that attracts better employees at a price you can afford.


Commercial Insurance to Protect Your Business in Ways You May Not Have Considered

General liability insurance, property insurance, vehicle insurance, and workers' compensation insurance form the foundation of your business insurance protection. However, there are other types or subcategories of commercial insurance to consider. Among these are key person insurance, individual insurance, and insurance-backed buy-sell agreements.

Key Person Insurance: Thinking Beyond Job Titles Alone

Key person insurance, also known as key man insurance, is designed to reimburse you for the loss of sales or earnings due to losing an executive, business partner, or other key employee due to disability or death. When considering key person insurance, think beyond titles and identify those employees in your organization who, if unavailable, would dramatically impact your sales or the continuity of your business operations.

These may include high-performing sales reps and customer service personnel, as well as employees with deep technical knowledge of your industry or complex internal processes. Such people may be very difficult to replace with someone of similar knowledge or talent, resulting in reduced productivity or lost sales revenues for your firm for years to come. Your independent insurance agent can help you put together a smart key person insurance package to protect your business financially from the impact of losing a key employee. 

Backing Buy-Sell Agreements with Business Insurance Protection

In the excitement of starting a new business with your business partner, business owners often overlook the need to work out all the details of a buy-sell agreement that comes into effect as a result of the loss of the other business partner due to retirement, death, or disability. While an attorney may be invaluable in putting together such agreements, don't neglect the need to obtain the proper life insurance on each partner to carry the remaining partner through the transition period and to keep the business financially healthy. The insurance coverage should be sufficient to buy out the departing partner's share of the business due to any of the circumstances mentioned above.

Life Insurance for Business Owners: Obtaining the Right Amount of Coverage

Business owners should carefully determine the amount of personal life insurance protection needed. Unlike employees, owners often have significant personal assets tied up in the business, such as a second mortgage that may have been used to finance the business. If the surviving family members' income drops significantly due to the death of the business owner, the results can be disastrous not only for the family, but for employees as well, even if significant personal loans and assets have not been invested in the business.

Low levels of life insurance may threaten not only the entire business, but also the careers of all employees by potentially forcing the surviving family members to liquidate or sell the business to pay the personal debts of the deceased business owner, or simply to provide the income needed to keep up with day-to-day financial obligations.

We Can Help with All Your Business Insurance Needs

We can help you make sense of your many business insurance options, from key person insurance, to life insurance, health insurance, disability insurance, dental insurance, and other forms of personal and commercial insurance to protect your business, and to attract and retain employees. We serve businesses in Reading, PA, Philadelphia, Allentown, Harrisburg, Lancaster, Lebanon, State College, Pittsburgh, Erie and points in between and beyond. 

Contact us

(800) 947-1270 or (610) 775-3848 

Take the challenge - get a quote. We offer the best insurance protection at the best price.

Take the challenge. Get a business insurance quote.

Tags: Commercial Insurance Allentown PA, Commercial Insurance Lancaster PA, Commercial Insurance Harrisburg PA, Life Insurance Berks Pa, Life Insurance Philadelphia Pa, Life Insurance Lancaster Pa, Insurance Reading Pa, Buy-Sell Agreement Insurance, Employee Benefits, Life Insurance Reading PA, Life Insurance Allentown Pa, Life Insurance Harrisburg Pa, Life Insurance York Pa, Disability Insurance, Key Person Insurance, Commercial Insurance Reading PA, Business Insurance, Commercial Insurance Philadelphia PA, Commercial Insurance York PA, Commercial Insurance Berks County, Life Insurance