While healthcare benefits get prime attention in the news, employees are looking for a complete package of offerings from their employers, including health insurance, cafeteria plans and retirement plans. Successful business owners gain a competitive edge by offering benefit options with the flexibility to meet the needs of employees — and the business — while keeping coverage affordable. Perhaps these challenges apply not only to your client-employers, but to your own firm as well.

The rising cost of medical care makes healthcare benefits a decisive factor in employee recruitment, satisfaction and retention. To complement their health insurance, many employers are interested in benefits such as Section 125 premium-only plans (POP) and flexible spending accounts (FSA) that make healthcare expenses easier to manage.

Employees of all ages are thinking about retirement benefits too. Today’s young employees recognize the value of early savings, and are looking for employment that includes the opportunity to build a nest egg. While many businesses are challenged by the affordability of offering a retirement plan, not all plans are costly to administer. Options like 401(k) plans, SIMPLE IRAs, and profit sharing plans can be reasonably priced choices for even the smallest businesses.

Savvy employees also look to their company benefits packages for disability and life insurance options. Employer-sponsored disability insurance and life insurance are attractive to many potential new hires because they provide valuable benefits that are often overlooked or delayed by individuals. Company-sponsored life insurance plans offer employees an opportunity to obtain insurance coverage without having to complete paperwork and pass physical exams.

Help Your Clients Gain a Competitive Edge

As most-trusted advisors, CPAs have an enormous opportunity to assist clients in evaluating their needs and partnering them with a company that can offer employers a full complement of benefits. It’s probably not a long shot that one or more of your clients is looking for help in this arena or has expressed the need to grow their benefits offerings.

Employees who can choose from a variety of benefits will experience the comfort that comes with economic security and a heightened sense of job satisfaction. Help your clients offer such security and satisfaction by considering the following options:

A Powerful Tax Savings Tool

Both POPs and FSAs are simple ways to help businesses stretch their employees’ pay, and at the same time, reduce employer taxes and increase benefits.

Are you identifying the Section 125 opportunities for your client base? Many of your clients would save outright tax dollars by implementing a Section 125 plan, and they may not be aware of this. Don’t risk that they learn of tax savings from someone other than you!

Insurance Needs Made Simple

Are you confident your clients receive the most competitive rates on medical, dental, vision, life, and short and long-term disability insurance? Could some of your clients use help in selecting the right plan for their company, enrolling their employees, and administering the plan and renewals?

Starting a Retirement Plan Can Be Easier Than Businesses Think

Retirement planning should be a number one priority for all of your clients. Are you playing a key role navigating your clients through the tax and retirement planning maze? Reviewing retirement planning basics can grow your business by providing a value-added consulting service. Full-service retirement solutions and convenient payroll deductions make it easier than ever for companies to start a retirement plan. By understanding the retirement plan options, you can concisely present retirement planning strategies and provide significant
client value.

Loyal employees can make the difference between a business that struggles and one that succeeds. Help your clients understand that employees are interested in more than wages alone, and businesses can achieve the competitive edge they need to thrive in the market by partnering with Paychex to offer employee benefits that will protect them today, and prepare them for tomorrow.

For more information about Paychex POP, FSA or retirement plans,
call 1-800-322-7292. Call 1-877-266-6850, option 30, and let Paychex help with a review of a current health plan or provide a competitive health insurance quote. Or visit www.paychex.com.

Paychex is proud to be the preferred provider of payroll and retirement plan services for CPAs through the AICPA Business
Solutions Program.