- Posted by Laura Martin
- On August 15, 2019
Attractive benefits can make the difference between whether a prospective employee accepts a job offer or not. When combined with existing benefit offerings, worksite marketing can not only help a company’s recruitment and retention strategy, but provide employers with a low-cost way to insure against high-cost issues. And, contrary to popular belief, you don’t need to be a big company to offer them – some plans require an employer to have a minimum of just two to five employees to qualify and others have no minimum requirement.
Here’s all you need to know about creating a worksite marketing plan and what it can do for your employees and your business.
What is Worksite Marketing?
Sometimes called supplemental insurance or employee-paid benefits, worksite marketing is offered by the employer through the workplace. Employees may choose to supplement the core employee benefits they get as part of a benefits package.
What Worksite Marketing benefits are available?
There’s a huge range of voluntary insurance plans out there in the market. Some examples include disability insurance, accident insurance, dental insurance, and critical illness insurance.
Dental insurance can provide benefits for both routine and more expensive dental procedures that are not covered by most health insurance plans. They typically include cleaning, fillings, sealants, tooth removal, crowns and dentures – and may also provide benefits for regular dental appointments.
Accident insurance plans can help offset the unexpected medical expenses that may result from a covered accidental injury. Typically, they help cover some of the expenses for initial care, surgery, transportation and lodging, and follow-up care.
Critical Illness insurance
Critical illness insurance can complement major medical coverage by providing a lump-sum benefit for an employee diagnosed with a covered critical illness, such as heart attack, stroke, coronary artery bypass surgery, end-stage renal failure or major organ transplant – among others. Benefits are typically paid directly to the employee, so they can be used where they’re most needed.
Hospital indemnity insurance
Hospital confinement indemnity insurance provides a lump-sum benefit to help with out-of-pocket costs related to a hospital stay. This may include outpatient surgery, diagnostic tests, doctor’s appointments and emergency room trips.
Supplemental Asset Protection
Disability insurance replaces a percentage of an employee’s income if they become disabled as a result of a covered accident or sickness, to help them continue to make ends meet while they’re out of work.
Life insurance pays out a lump sum to help provide financial protection for an employee’s family members in the event of the employee’s death. Coverage can be updated to reflect changes in life such as getting married, buying a home or having a child. Most plans offer spouse and child coverage.
Expand your company’s benefit package. Speak with your KTB Employee Benefits Consultant or email firstname.lastname@example.org to learn more.