Guide | Construction employee benefits

The State of Construction

Construction spending is projected to grow by almost 13% by 2023. With all of this extra business, smart construction companies are prioritizing efforts to retain the employees they have and recruit more skilled workers to meet the steady demand.

This can be challenging for small- to medium-size business owners. Studies show that 48% of construction companies don't offer any health benefits to their employees.

This is a big disadvantage for small businesses as they find themselves competing with large construction companies with deep pockets and big budgets for traditional group health care packages. And with traditional group insurance comes participation requirements, administration complexity, and high costs that just don’t make sense for many of these smaller businesses.

As a result, many construction companies, like UP General Contracting, are looking for other ways to reimburse their workers for health care.

That's where PeopleKeep comes in.

HRA Benefits for Construction Firms

Effectively manage costs

You decide how much the business can afford to contribute
You can adjust the allowance amount based on budget constraints throughout the year
Any unused funds at the end of the year go back to the company

Hire and keep top workers

Workers want health benefits, so offering benefits when your competitors don't will set you apart
Employees choose the plan and network that works best for them
If employees are covered by a spouse's or parent's plan, they still get value from the benefit

Simplify administrative processes

PeopleKeep's cloud-based software only requires 5 minutes per month to administer
We educate your employees on their HRA plan and how to use it
PeopleKeep verifies the expenses and notify you and your employee of the verified amount within 2 business days
You add the verified amount to your payroll
We keep your company in compliance with all regulations and provide you with all required documentation

If you think an HRA could work for your company but don't know where to start, don't fear. Our eBook, The Construction Company's Guide to Individual Health Insurance Reimbursement, was made just for you.