Employees across the nation will have many reasons to smile on Friday, March 6, Employee Appreciation Day. Good employees are hard to find, and are therefore important to keep. Employee appreciation day is one-way bosses can say thank you to their hard working staff. But appreciation goes beyond just one day of recognition. Companies that provide health insurance, dental and vision, retirement plans, paid vacations, and sick leave, often gain and retain happy employees over those that do not.
Benefits are a critical piece of an employee compensation package with health benefits and time-off as the most popular, according to a study by Harvard Business Review Analytic Services in 2012. The study also found that employee benefits have a significant impact on staff retention and most employees were happy with their employer’s offerings.
A compensation package can cost an employer up to 40% of an employee’s salary. So, if dental insurance is something your company can’t afford to offer, consider a dental savings plan from :DentalPlans, a marketplace of dental savings plans in the U.S.
“We offer group dental savings plans that are affordable and incredibly easy to manage,” says Bill Chase, vice president of marketing for :DentalPlans. “Employees have the freedom to choose and manage their own dental savings plans, saving the company time and money. There are no claims to file and track, and no approvals or reimbursements to worry about. Employees save on care immediately, right at their dentist's office.”
Dental savings plans are not dental insurance. Participating dentists have agreed to accept a reduced fee from dental savings plans’ members as payment in full for dental services performed. Depending on the plan, members can receive 10% to 60 % off dental services, even orthodontia. Select plans offered by :DentalPlans provide discounts on vision and hearing care services, prescriptions, chiropractic treatments, and other wellness and health services and products as well.
Example employee savings:
Plan: Aetna Vital Savings
Scenario: Two Adults and Two Dependent Children
Annual Family Membership Fee: $179.95
Typical Dentist Fees | Sample Reduced Fees (for Plan Members) | Total Savings | |
8 Routine 6 Month Check-ups | $ 488 | $256 | $232 |
4 Adult Teeth Cleanings | $452 | $248 | $204 |
4 Child Teeth Cleanings | $328 | $180 | $148 |
4 Full Mouth X-Rays | $600 | $320 | $280 |
Total Savings | $864* |
Using the Aetna Vital Savings plan, which costs a low annual fee of $179.95, a family of four could save $864 on their annual ADArecommended treatments alone. That’s $684.05 in savings, when including the cost of the plan. And the savings can really add up when additional dental care is factored in, like sealants for children’s teeth, crowns, braces, and other procedures.
*The select regional average cost represents the average fees for the procedures listed above in Los Angeles, Orlando, Chicago and New York City, as displayed in the cost of care tool as of August 2014.
