Your employee benefits program can play a key role in attracting and retaining quality employees. When planning and implementing your benefits program, be sure to consider your budget, business goals and the resources that will help you comply with federal and state guidelines. As you develop your program, it is also vitally important to understand the laws which can potentially impact your employee benefits program, including: COBRA if your company has 20 or more employees, the Affordable Care Act (Health Care Reform) and Family and Medical Leave Act if your company has 50 or more employees.
There are two types of employee benefits:
Examples of required benefits include Social Security and workers' compensation, while optional benefits include health care and retirement. Both required and optional benefits have both legal and tax implications for the employer.
While employers largely have discretion to choose what benefits to offer their employees, and how, employee benefits are also highly regulated by law. Thus, as employers explore the Employee Benefits section, they should keep the following ideas in mind:
The Employee Benefits section includes:
For more on each of these topics, please click on the appropriate link above or at left.
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