There are many unique challenges that today’s small business owners must tackle, and one is offering the same type of incentives and benefits to their employees that larger corporations do. This is important not only so they can compete effectively for the most qualified job applicants, but also to make sure their employees feel cared about and are kept in the best health possible. As insurance costs continue to rise, many small businesses are finding it even harder to keep up with the insurance offerings of larger competitors. In addition, as the number of freelancing and contracted jobs continues to grow – an Intuit study predicted that by 2020 they will make up 40% of the workforce – it is becoming increasingly difficult to incentivize employee loyalty.

Contract Jobs Lack Attractiveness
Although companies who employ contracted or freelance workers do enjoy a lower cost per employee since those roles don’t often provide employee benefits, there are drawbacks as well. Those jobs become less attractive to employable applicants, who recognize benefits as another vital form of performance compensation that arguably augments salary and wages. In a time when many small business owners struggle to budget for benefits coverage for their employees amid a recovering economy, the fact of the matter is that they can’t afford NOT to offer them. Fortunately there are some health insurance providers who have adapted with the changing employment and are starting to offer more flexible plans. Benecaid has developed an effective way to offer sustainable benefits plans to even the smallest of operations, by using unique strategies offering more hands-on participation and all the pertinent information for wise choices.

Where to Begin
The best way to design a health benefits package for a small company is by interviewing personnel, having them fill out detailed surveys, and offer feedback as to what the most important aspects would be to them. The employer can then make the best choices to coincide with the evaluations provided by employees.

Reinventing Traditional Insurance With Options
By offering unique and non-traditional employee benefits plan like the Benecaid’s flexStyle® program, employers of small businesses are saving money by paying for only the benefits that employees actually use. It’s an employee insurance plan with fully customizable benefits with solutions that are based on proven evidence that all businesses have their own very different needs. Here, customizations can be made that best complement each individual operating budget. Benecaid flexFIT™ enables more structured benefits in keeping with a more traditional form of group insurance for employees. Planning for both predictable and unexpected healthcare costs include many customizing options here, as well. Employees receive valuable coverage while employers are able to more efficiently control costs.

How Benecaid is Different
There are a myriad of ways in which Benecaid effectively bridges access to insurance for employees of small businesses. Specifics like more choices in obtaining the types of insurance coverage offered and companies only paying for what their employees actually use make a sizeable difference in adequately covering everyone. There are no surprise renewals, and with Benecaid’s flexStyle® program, unused payments are even returned to the sponsor of the plan. Employers are able to afford offering their valued employees insurance options by tailoring their plan to the essentials their employees value and not forcing them to shoulder the burden of unused care, for a win-win approach.