How Much Does it Cost to Offer Dental Insurance to my Employees?
Many people take the benefit package of any company into consideration prior to even applying for a job. They want to ensure that they are protected along with their family in the best way possible. After all, if you have kids who require orthodontics and do not have a great dental plan, you may end up looking elsewhere (or spending all of your free time taking overtime shifts just to make the bills).
Dental Insurance Is Much Less than Medical Insurance
Benefit packages are commonly comprised of a medical component and a dental portion. Some companies offer more for dental and less for vision care or vice-versa. Businesses that employ more than fifty full time employees are required to offer health insurance benefits or they may face a penalty.
Get Free Dental Insurance Quotes
The good news is that while medical plans may be in the range of $300 to $500 a month for a single person and double that for a family; dental plans are significantly less. On average, dental plans for a single member cost approximately $50 to $150 a month.
What is the average age of your crew? Are they mostly in their twenties, thirties or fifties? Younger staff statistically report less health issues in comparison to their older counterparts. The demographics of your employees will influence your bottom line. If the average of your staff is 35, you will find coverage much more affordable in comparison to having a majority of senior staff.
Basic, Orthodontic and Major Dental Plans
There are different plans associated with specific cost totals. Are you looking to provide basic cleanings and dental checkups only? Or do you wish to ensure that fillings and X-Rays are covered for your staff? Do many of your employees have young families? A comprehensive orthodontic plan is often desirable due to the expense of braces and appliances. Major coverage plans often include extensive restorations including bridges, crowns and sometimes implants.
Remember, anyone who has a toothache or the smell of decay radiating from their mouth may be calling in sick much more often or incidentally turning customers away. These factors could inadvertently cost you thousands of dollars in lost revenue. Try to offer the best plan you can financially afford to your employees without overpaying for coverage.
A Reputable and Experienced Broker
It can save you copious amounts of time and energy to obtain numerous quotes from those who specialize in the industry. Your location will additionally be taken into consideration in regards to how much you will be paying. Feel confident knowing that you can make an informed choice by having a reputable insurance broker obtain a variety of coverage rates and plans so that you can choose the option that will work best for your business.
Secure a long term, satisfied staff by offering competitive benefits to attract and maintain your employees. Avoid having a reputation for having poor benefits or having to deal with a high turn over rate as a result. Review your benefit packages annually to ensure that you are not paying too much and are offering your crew the best case scenario.