A Plan for Your Hourly Employees
Medical insurance can be a big challenge for businesses with part-time, hourly, temporary and seasonal employees — employers that typically budget on a cost-per-hour basis. Select Benefits can help.
Let's face it, most medical insurance plans aren't designed for businesses with part-time, hourly, temporary and seasonal employees. Yet, approximately 40 percent of America's 45 million uninsured fall into this demographic1 — precisely the employee group targeted by Select Benefits, Symetra Life's limited benefit medical insurance.
If you own a restaurant or store, for example, you may:
- End up paying more for benefits. Why? Plans are generally designed for salaried, full-time employees, which means businesses with part-time workers may be paying proportionately more. With Select Benefits, you're charged an hourly premium rate, so you only pay for the exact number of hours an employee works each month.
- Be overwhelmed by time-consuming administration. With monthly plans you may have to add to, or subtract from, a monthly list bill whenever employees come and go. It can become especially cumbersome when employees terminate mid-month. With Select Benefits, you only report and pay for the actual number of hours employees work each month. There's no need to add or remove employees from a monthly list bill.
- Find it difficult to identify an actual cost-per-hour for benefits. Most plans use a monthly premium rate. Trying to determine exactly how much per hour your business is spending, or can spend, on benefits may be difficult. With Select Benefits, plans can be designed to fit your specific needs. If you want a plan that costs 85 cents per hour, we can design it. In fact, plans start as low as 25 cents per hour and go up to nearly $3 per hour.
Select Benefits is not a replacement for major medical insurance, but it does provide limited benefit medical coverage for things like routine check-ups, X-rays and immunizations for children. It also provides employees and all enrolled dependents with customized ID cards, as well as a toll-free number they can call for claims assistance and benefit questions.
All businesses understand that health insurance gives them an effective employee recruitment and retention tool. With an hourly plan design, even small businesses have a cost-effective solution that can be customized to fit almost any budget.
1 New York Times, Bush Notes Frustration in Gulf Coast Recovery, March 2, 2007.
