Employer sponsored benefits have been a staple in the US since President Roosevelt first introduced the concept in 1942 with the Stabilization Act. Due to World War II, employers could freeze wages, so this Act helped provide health insurance to employees as incentive to stay with the company. The act gave employers and employees the right to pay premiums out of payroll before taxes.
Since the inception of the Stabilization Act, employers increasingly offer more benefits to employees beginning with dental and vision being offered in the 50’s to paid time off, life insurance, coverage for a disability and even supplemental benefits for an accident or critical illness. According to Kaiser Family Foundation, in a national study from 2014, employers are providing approximately 66% of working Americans with healthcare.
When looking for a job today, one of the biggest concerns for a potential employee is the benefit package. What does the employer offer for benefits and what will it cost ME out of my pay? Not only do employers provide a majority of the health benefits in this country, they also pay for most of the cost. Again, from Kaiser Family Foundation, in a 2016 national survey, workers pay approximately 18% of their premium if they are single and 30% of family premium costs.
David P. Lind provides a similar survey for Iowa based business. In 2015, health insurance was provided by more than 75% of employers, with paid vacation and holiday pay the only benefit being offered more. In addition, retirement benefit, group term life and dental round out the top five benefits offered by employers in Iowa.
How does your benefit package look? At Health Insurance Advisor, LLC we can assist you with your benefit questions and designs. As a business owner like you, we understand you are busy with what you do, let us be your employee benefit specialist.
A little more about us:
The Business Warrior group has some of the industry’s top experts in all the areas your business needs to be successful. Amongst the contributors is Janis VanAhn, owner of Health Insurance Advisor, LLC. For 19 years Janis has worked in and around the health insurance industry initially providing service to agents and employers related to employee benefits, individual healthcare and Medicare, while more recently becoming appointed as an individual agent with various quality carriers to provide this service to individuals through her own business.
Four years ago Janis was ‘blessed’ with being let go from her job at an insurance ageny. Staying within insurance was her path…but in what capacity. 2010 was the year Janis began her career as an independent insurance agent specializing in health insurance. Finding quality, cost-effective healthcare for individuals and families under age 65 as well as working with those who are Medicare eligible truly was her passion. She has made this a true specialty and positioned herself as someone to work with whether it is a financial professional or property & casualty agent with a client that needs assistance, to a group of seniors turning 65 and they keep receiving Medicare information and are confused about what to do.
Janis enjoys the one on one contact with clients as well as looking forward to speaking to groups about healthcare. Her excitement for this industry is what drives her to stay in tune with Healthcare Reform and what is currently happening and what will happen with coverage from now to past 2014.
‘Educating individual and Medicare consumers to make informed choices’ is her mission because if people are educated and understand, they will make informed choices that they are comfortable with.