Employee Benefits: Summary  A Listing of the Types of Benefits a Business Could Have Medical Insurance:  Medical coverage from HMO's to Traditional Insurance. Group Life  Inexpensive Term Life Insurance can form the base for employee life insurance. Want more information, click here. Group Disability Short Term Disability to provide income from day 1 to 13 weeks or 26 weeks Long Term Disability to provide income from 13 weeks or 26 weeks to age 67 Need more information on employer sponsored disability income, click here. Group Long Term Care  Asset protection for your employees to provide for nursing or home health care Voluntary Employee Paid Payroll Deduction Products  You can't pay for all your employees' insurance needs. Allow them buy what they need or want on a payroll deduction basis. Voluntary Life Insurance  Employees can add up to 5X their income plus insure their families with portable term life and universal life plans.. Disability Income  Any disability income you provide as an employer is 100% taxable. Your employees can "buy up" with their own disability policy. Your firm can provide an oportunity for your employees to add to the base disability income you provide. Need more information, click here. Long Term Care Long Term Care insurance is asset protection. Don't spend your assets, use long term care insurance to to pay for nursing home or home health care expenses. 125/Cafeteria Plans Even small businesses qualify for cafeteria plans today. There are three options to a 125/cafeteria plans. The first option is called "Premium Only Plans". If your employees are paying for any part of their medical plans, this allows that portion to be paid on a pre-tax basis resulting in a discount. The employer also gets a tax benefit since payroll taxes are not paid on the premiums either. The second option is to pay certain non- insured medical, dental and vision care expenses on a pre-tax basis. The third option is pre-tax child care. The cost depends on which options you select. The POP option requires little administration and costs the least. Pension and Retirement Plans Every employee expects his employer to provide some type of retirement. There are several options to choose from. Each plan has its own benefits. There are some key questions to ask to determine what type of plan is best. Read the section of pension plans for more information as to specifics of the different types of plans. The lowest cost plan for a new business is a SEP (Simplified Employee Pension) due to the low cost of administration. Need some more information on business retirement planning, click here. If you want some general information on employee benefits, read the Evolution of a Business.