In our industry, we realize that when the ACA (Affordable Care Act) was passed in 2010 it had impacts that are still being felt and addressed by businesses nationwide. With predictions that the price of healthcare will rise 6.8 percent for employers in 2015, it is no wonder that employers continue to cut out some benefits, migrate to HDHPs (High deductible health plans), or even move employees to private health exchanges.
Interestingly, one area that has remained relatively unscathed is the offering, and relative cost of Dental and Vision benefits to employees.
“I think employers look at dental and vision benefits with a sense of relief … Dental only went up 4 percent this year. They can use the same strategy. They don’t have to cut benefits. It means they don’t have to kick employees one more time. It’s a small part of the overall picture with a big impact.” – Vinny Graziano, vice president of Segal Consulting, an independent benefits, compensation and human resources consultancy headquartered in Chicago.
Even with the need to “tighten the rope” on Healthcare plans, it’s been shown that by continuing to offer Vision and Dental benefits to your employees, you can garner significant appreciation and help keep employees happy. An added bonus: Dental and Vision benefits can help your employees to catch some other illnesses early on including diabetes and hypertension – keeping them healthier and keeping future expenses down.
Now you see the value. What’s Next?
There are a few different ways that Dental and Vision can be offered alongside or outside of your Health plans. In addition, the ACA has certain requirements and guidelines that can be complicated to navigate. Lucky for you, QBS has a knowledgable team that can help you make the best decisions for your organization, your employees and the future of your business.
Want to know more? Give us a call or send us an email today. We would love to help you navigate the ever-evolving world of Employee Benefits.
More coverage on this important topic can be found here: http://www.workforce.com/articles/21191-special-report-dental-and-vision-benefits-more-to-see-more-to-chew-on