Small business employee benefits in Scottsdale, AZ, can cover everything from the traditional to the extraordinary. Here are three conventional benefits and some little-known gems.
Retirement Matching
Many workplaces are required to offer retirement plans to employees, but an owner can make the deal more enticing by matching a worker’s contribution. This additional funding can encourage staff to stay and bring in new recruits. An owner can also apply it yearly if an operation does exceptionally well. Businesses work with financial advisors to establish these systems.
Student Loan Repayment
When it comes to top small business employee benefits in Scottsdale, AZ, repaying a person’s debt is rarely required. If a business is looking for particular graduates, this offering may bring them in. Another similar avenue is to reimburse a student’s tuition. The person could use the education to further themselves inside the company. The financial benefits often have strings attached, such as that the receiver must stay with the business for a certain amount of time. If they leave early, they may forfeit some or all of the money.
Health Savings Accounts
Health Savings Accounts (HSA) allow employees to set aside money for medical expenses. The payroll department takes the funds out of the paycheck before taxes. An individual does not have to pay taxes on that portion, and this adjustment may lower a person’s overall taxable income. An operation can also match their employee’s HSA savings. Flexible Spending Accounts (FSAs) are similar to HSAs. Both options require the insured to spend the money on qualifying medical events or healthcare expenses.
Disclaimer:
Securities are offered through Avantax Investment Services℠, Member FINRA, SIPC. Investment advisory services are offered through Avantax Advisory Services℠.
Insurance services are offered through an Avantax affiliated insurance agency.
