Take care of your workers so they can take care of your business.
Are you offering the right employee benefits to attract top talent and foster a productive workforce? For workers, employer-sponsored benefits are a critical part of total compensation. For employers, employee benefits are a vital tool that can support business goals. Mavrix can help you craft an employee benefits strategy that balances the needs of your company and your workforce.
Essential Employer-Sponsored Benefits
Not sure where to start? Employee benefits packages can be as varied as the workers they cover, but most employee benefits packages start with core products that help workers take care of their health, finances, and family.
Building Custom Employee Benefits Plans
Each company is unique. Your employee benefits package should be unique, too.
A successful employee benefits strategy must meet the needs of your workers while respecting your budget. From identifying the right health and retirement products and plan design options for your company, to rounding out your benefits package with voluntary benefits and other ancillary products, there’s a lot to consider.
An experienced employee benefits broker can help you understand your options and what they mean for your company. Mavrix offers employee benefits consulting to help zero in on a strategy that will maximize your investment and support your business goals.
Your Full-Service Partner
Does insurance seem too complicated? When you work with multiple brokers to meet all your insurance needs, you can end up wasting resources. Even worse, you may be exposed to coverage gaps or costly overlaps.
There’s an easy solution – work with one insurance partner that covers everything.
Mavrix is a full-service insurance partner for employers. In addition to employee benefits, we offer a wide range of business insurance products.
Count on Mavrix for all your business insurance needs, including:
Frequently Asked Questions
What types of employee benefits insurance does Mavrix offer?
Mavrix offers a wide range of employee benefits, including:
- Group health plans
- HSAs and FSAs
- Telemedicine
- Pharmacy benefit plans
- Retirement plans
- Voluntary benefits
If you’re looking for something specific, or if you need advice on what to offer, reach out to our expert employee benefits brokers.
What’s the most important employee benefit to offer?
The modern workforce is diverse, and the benefits you offer should cater to the needs of your workers. However, health insurance tends to rank very highly in terms of the most sought-after employee benefits. Health insurance impacts a person’s health and finances, and most Americans under the age of 65 rely on employer-sponsored health coverage, making this a critical benefit. Retirement benefits also tend to rank highly, especially among older workers who are trying to catch up on their retirement savings.
How can a small business create a competitive employee benefits package?
Small businesses absolutely can offer competitive and affordable employee benefits packages – and there’s ample reason to do so.
If you don’t provide a competitive employee benefits package, you risk losing top talent to other companies with more robust offerings. In the long run, you may end up spending more on recruitment and hiring processes as your best job candidates accept other offers and your top-performing workers leave for other companies. Unfortunately, many small businesses lose out because they don’t think they can afford to provide top-notch benefits. It doesn’t have to be this way.
Small businesses have multiple tactics that they can implement. For example, by leveraging smart tax strategies, you can offer employee benefits for small businesses that maximize your compensation budget. You can also offer voluntary benefits insurance with little to no costs on your part, allowing you to offer a well-rounded benefits package without going over budget. An employee benefits broker can help you explore your options.
Why should I work with an employee benefits broker instead of a direct provider?
When it comes to something as complex and high stakes as employee benefits, it’s good to have an expert in your corner.
If you go directly to a carrier, you won’t know if that’s really the best fit for your company, or if it’s just all that carrier offers. An employee benefits broker has access to multiple carriers and can leverage connections to find solutions that work for you.
Your broker is also your advocate. In addition to helping with benefits consulting and product access, your broker can offer resources and guidance on issues like regulatory compliance and benefits administration. And if you ever have a dispute with your carrier, your broker can help you navigate the resolution.
What are voluntary benefits?
Voluntary benefits are benefits that employees can choose to accept or reject. If they accept the benefits, they can use payroll deductions to pay for their share of the premiums, which may be as high as 100%. Employers can use voluntary benefits to offer a robust employee benefits package with little to no increase in costs, while employees can take advantage of affordable group rates and convenient payroll deductions.
Does Mavrix help with benefits administration and compliance?
Yes, Mavrix can help you with compliance and benefits administration services.
For many small to medium-sized businesses, benefits administration and regulations are barriers to offering employee benefits. With federal regulations including the ACA and FMLA, as well as evolving state and local laws, administering benefits can seem overwhelming. Mavrix can help you navigate these small business employee benefits requirements with confidence.
Can Mavrix customize benefits plans for different employee groups?
Yes, Mavrix can customize benefits for different employee groups. Many businesses find it necessary to offer different benefits packages to different groups of employees so they can properly reward their high-level workers while controlling their overall costs. It’s important to make sure all employees feel adequately compensated and to comply with nondiscriminatory rules. However, with these concerns in mind, it is absolutely possible to customize your benefits for different groups of employees, and Mavrix can help you do this.
How can I start offering employee benefits?
If you’re ready to start offering employee benefits, the first step is to meet with an employee benefits broker. Use the link below to get started.