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The Best Vision Insurance Louisiana Employers Can Offer

vision insurance louisiana

When it comes to vision insurance Louisiana business owners should know exactly what to look for. While there are lots of options to choose from, the holistic benefits of offering employees vision insurance are undeniable. Not only does it keep your workforce happy and healthy, but it can also be great for business itself. Continue reading to open your eyes to the many benefits of vision insurance. 

What Is Vision Insurance? 

Vision insurance is critical in a country where about 32.3 million adults (13% of the population) struggle with vision loss or impairment. Vision insurance can provide employees with proactive eye care (such as annual exams) as well as helping them afford prescription eyewear (glasses or contacts). Yearly eye exams do far more than evaluate changing prescriptions—they help to detect early onset signs of cancer, diabetes and high blood pressure. 

In the past few decades, vision problems have surged in number regardless of demographic constraints. Employers should be accounting for these trends within their business’ insurance models. More and more employers are offering supplementary vision insurance, and here’s why you should too.   

The Benefits of Vision Insurance Louisiana Businesses Can Expect 

When businesses offer vision insurance, it’s always win-win for both employers and employees. Here are just a few of the overall benefits that are sure to materialize: 

  1. Employee Retention Rates: When it comes to coverage, there’s a sizable gap in the realm of eye coverage. Surveys show that without vision insurance, more than a third of employees are likely to consider job-hopping. Offering vision insurance can both bolster employee retention and decrease quick turnover cycles. A company culture promoting health-centric values is likely to have a steadfast workforce.
  1. Increased Employee Morale: Vision insurance that is convenient and accessible is sure to improve overall morale which almost always leads to subsequent increases in productivity, employee satisfaction and the social health of the workplace. Additionally, because eye exams help detect early onset health issues, absenteeism stemming from more serious and developed illnesses should also decrease down the line.  
  1. Hiring Desirability: Though many businesses offer a variety of health insurance options, few move to formally include vision insurance as an ancillary option. During the recruiting process, potential candidates are sure to seek the most comprehensive coverage on the market. Vision insurance incentivizes individuals to choose to work for you and not your competitor. 
  1. Group Premiums: True, comprehensive eye care is expensive, but should never be a distant luxury. For employees struggling to cover the cost of their health insurance, group premiums are on average much cheaper than paying for individual plans, and vision insurance is no exception! 
  1. Pre-Tax Savings: Though upon first glance health benefit packages may appear to put a financial strain on the limited resources of small businesses, offering vision insurance may help you save come tax season. Employer contributions to small group health insurance aren’t subject to federal tax calculations and aren’t reported on your W-2. Additionally, formal plans can make health costs fully deductible as business expenses. Businesses with fewer than 25 full-time employees may even qualify to receive a small business healthcare tax credit which helps cover premiums

Choosing the Best Vision Insurance in Louisiana

Once you’ve decided to provide vision insurance to your workforce, choosing the best vision insurance to meet your specific needs is paramount. Here are some topics you may want to consider discussing with a potential provider: 

  • Examine a variety of different benefit methods: choose whether to implement group insurance, self-funded insurance, or an HRA policy. Each of these types may provide certain advantages in terms of adaptability, reimbursement and participation rates. 
  • Determine whether your vision insurance plan will be a full-coverage vision benefits package, or a less intensive vision discount plan that lowers standard price rates. Ask questions about co-pay fees, deductibles and service limits during given coverage periods. 
  • Evaluate eye care provider networks and compare their respective coverage. Depending on the plan, employees may need to obtain optical services and products from participating vendors and locations, or will otherwise be able to engage with other providers at additional costs. Knowing the ins and outs of your vision insurance plan will help you make logical, accessible choices while ensuring providers exist within reasonable physical proximity to employee participants. 
  • Extensively research provider reviews to determine whether they come highly recommended from other local businesses. National providers may not have the insight that local providers do. Area-specificity and customer satisfaction are key. 

Visualize Your Insurance With Canal HR

The future is bright; Canal HR wants to keep your operations running 20/20! We have the vision insurance Louisiana businesses trust. Before the next open enrollment period, consider what your employees need the most. As a PEO (professional employer organization) we’re well-versed in working out insurance plans with small businesses throughout Louisiana and can guarantee that our team of experts will help you build vision insurance plans specifically tailored to meet your business’ and your employee’s needs. 

Why stop at vision? Canal HR is well-versed in many benefit departments, helping our clients understand and offer medical, dental, life, disability and cancer insurance packages to their valued employees. Breaking down otherwise complicated metrics, figures and regulations is our specialty; we’ve been proudly helping Louisiana businesses meet their insurance needs for eight years and counting!
Feel free to contact us and get started on your vision insurance plan today, or reach out if you have any further questions about the many services we have to offer.