Business Services

Benefit Statements

Benefit statements allow an employer to clearly communicate the true value of their complete employee benefit package. Benefits represent an employer’s commitment to their employee’s health and well-being. They can be the decision making tool that allows a prospective employee to select one company over another. In addition, benefits represent non-taxable income. They also represent a significant cost to an employer. Unfortunately most employees do not understand or realize the cost and financial impact of these benefits.

A benefit statement is a summary of the benefits provided to an employee and their corresponding annual cost. Statements can be as simple as a one page summary or a detailed 4 page report. Benefit statements also allow employees to confirm information regarding their current elections and beneficiaries. These statements can include the cost to provide medical, dental and vision premium to 401K contribution and FICA cost.  In addition, other non-traditional benefits can be included. These can encompass office lunches, gifts to employees, cell phone allowance and many other “perks”.

Benefit statements are traditionally distributed shortly after the end of the calendar year. However an employer can choose to deliver statements at any time of the year. Schroepfer Bauer Insurance has several templates available for benefit statements. We can assist you in providing the information to import into these documents. For additional information please contact your account manager. To view an example of a statement click here.

Business Products & Services

Employee Benefits