What benefits should your business offer?
*Health, dental, and vision qualify for the Small Business Tax Credit. Please contact us for more information.
These are only some options to consider, but please contact us today to customize a benefit plan that works best for your business!
· *Health Insurance – Available with 2+ employees and typically 75% employee participation. With 10+ employees you can offer a dual option plan. With group health insurance the employer is typically required to pay for at least 50% of the individual employee premium. Which isn’t much typically, but if you don’t pay enough of the premium employees that are healthy may feel like is cheaper to get an individual plan on their own.
We can then utilize some different and unique GAP/Supplemental plan programs with 5+ employees to save groups 5-15% on their premium while improving their plan. We can sort through the options with you, and give you a unique perspective on your health plan.
The rest of these plans can be offered as a Voluntary Benefit or Employer Paid. Voluntary Benefits can be paid 100% by the employee with no out-of-pocket expense to the business. The employees get better and cheaper plans usually, and the business improves their benefits and saves on payroll taxes. It’s a WIN-WIN for the employees and the business!
· Disability Insurance (LTD: Long-term & STD: Short-term) - Available with 2+ employees and higher participation requirements. Did you know someone is 4 times more likely to have a serious long-term disability in their working career than dying? Disability insurance is often overlooked, and may be the second most important insurance someone could have after health insurance. However, LTD on individual plans can be VERY expensive. So offer it on a true group plan and this cost can be cut by up to 70% or more.
· Life Insurance – Available with 2+ employees and certain participation requirements. Did you know that over 60% of people don’t have enough life insurance? Many employee thing that 2x their annual salary is enough, but most financial planners recommend 8-10x your annual income in life insurance. Some people may not qualify for individual plans and have no options. Offer this on a group plan and based on the size of your business we can guarantee issue up to a certain amount with no medical exams, and get your employees more coverage that they probably need.
· *Dental/Vision – Available with 2+ employees with certain participation requirements. With 10+ employees you can offer dual option plan. Dental insurance is proven to affect a person’s overall health, and far too many people don’t get their standard check up done when they don’t have dental insurance. This can be very affordable and worth every penny usually!
· Accident Insurance – Available with 3+ employees and no participation requirements. Most people feel like the use their health insurance for accidents, but they still have high deductibles and out-of-pocket coinsurance amounts. Accident insurance is our most popular supplemental insurance plan that pays for out-of-pocket expenses that health insurance doesn’t cover like missed work, lodging, deductibles, co-insurance, etc.
· Critical Illness Insurance – Available with 3+ employees and no participation requirements. What would happen to an employee if they were diagnosed with life threatening cancer, or had a life threatening heart attack? Critical Illness insurance can pay a lump sum benefit to help cover the major expenses with a serious health condition like above. Critical illness insurance is our second most popular supplemental insurance plan that again pays for out-of-pocket expenses that health insurance doesn’t cover like missed work, lodging, deductibles, co-insurance, etc.
· Legal Protection & ID Theft–Available with 2+ employees, and no participation requirements. ID theft is the fasted growing crime in America, and people aren’t prepared when it happens. Then the most common reason for missing work besides sickness is because they are taking time off to deal with legal issues. Divorce, traffic tickets, child custody, ID theft, court, and more! So with this plan we are able to package a legal protection plan and ID theft plan to protect your employees from these life problems.
· Wellness Program – Did you know your employees have a direct affect on your health insurance premiums? Let us work with you to offer a comprehensive and effective wellness program to improve your employee’s health which will improve productivity and absenteeism, and ultimately save you THOUSANDS of dollars on your group health premiums. We then can then structure your health plan to be most effective and reduce utilization (use) of your group plan with is making your rates increase so dramatically.
· 401k and Other Benefits – We’ve partnered with a local benefit investment advisor to also offer you the best options on your business 401k, SEP, SIMPLE, or other retirement plan. There are also other benefit options we can look at for you such as: Long-Term Care, Cancer, Hospital Confinement, EAP Programs, and more!