When you are considering employee benefits, there are a number of different things to keep in mind. Dental, vision and medical plans must all be evaluated to find the best possible options, and this is why many people turn to employee benefit consulting services for help. Since state laws require certain types of coverage to be provided to residents, it is important to be aware of local legislation to ensure that you are not paying too much for benefits.
For example, the Milwaukee Business Journal reported that Wisconsin taxpayers are paying significantly more than citizens of surrounding states to provide health insurance to federal employees. HCTrends evaluated 2012 federal agency health plan benefits in Illinois, Minnesota, Iowa and Michigan and compared them with those in Wisconsin, and the resulting figures were quite shocking.
The study found that Wisconsin taxpayers will pay $13,972 to provide health insurance to a federal worker, 9 percent more than Michigan. This number is also 21 percent more than the average per?employee cost out of the surveyed states.
Make sure to check with HR compliance to ensure your coverage adheres to all federal and state regulations, including tax liability.
