Employee Benefits

We manage your payroll and onboarding, ensuring smooth data transfer to our enrollment system. Employees consult benefits counselors and finalize their elections annually. This information is sent to insurers for quick card issuance, and payroll deductions are updated automatically. With your budget, we'll tailor a benefits package. Despite some variations, benefits packages are generally similar across industries, with budget determining coverage.

This is your major budget item. Most companies offer 1-3 plans. Ideally, a plan with lower copays for minor expenses and a higher deductible for hospital and surgical costs (which are less frequent) is more cost-effective. A level-funded plan also provides cost transparency, enabling us to educate your employees on being smart consumers when selecting care venues (e.g., avoiding hospital settings) and choosing prescriptions (those without recognizable jingles on TV commercials are often more affordable). We recommend the employer picks up 50-90% of the cost, but never 100%.

Often overlooked as a cost-saving measure, this separate plan covers deductibles specifically for hospital and surgical expenses. It stabilizes health insurance rates by offloading some claims onto this plan. For example, you could increase your deductible by $1,000 and transfer that cost here for about $30 per month per employee. This method is more efficient and predictable than using an HRA or other alternatives. This is our approach, and it tends to be effective for us. Here, the benefit is when the employer pays 100% of the cost.

For approximately $5 per week, an accident plan can assist in covering copays, deductibles, and additional expenses resulting from accidents, particularly those that don't lead to disability. This also enables the possibility of higher deductibles on the health plan, which can be more efficiently offset here, contributing to health insurance rate stability. Accident plans, along with short-term disability (as discussed below), generally help reduce the number of workers' compensation claims.

Offering a single quality plan here is sufficient. The crucial aspect is providing a plan that doesn't restrict employees to a specific network. We recommend at least a "90 UCR" plan (Usual, Reasonable, and Customary), which essentially allows employees to use any dentist with a 90% likelihood that their dentist's charges will be accepted by the insurance company. While people often don't mind which ENT they see, they do care about maintaining their choice of dentist. For smaller companies, we recommend an individual plan with a fixed price that employees can retain even if they leave your employment. We recommend the employer picks up 50-90% of the cost, but never 100%.

When you can get a top-tier plan for under $10 a month, there's no reason to cut corners here. We prefer Eyemed because it offers access to LensCrafters, Pearl Vision, many Target vision centers, and more. For smaller companies, we often bundle vision coverage with a voluntary dental plan. The employer paying 50-75% of the cost is typical.

The ideal setup involves the employer covering 100% of the cost, with the plan starting after 180 days of disability and continuing until Social Security retirement age. This requires at least 10 employees to be effective. Avoid pairing this with a group short-term disability plan, as doing so would forfeit a 20% discount and a more stable rate. You can also make this a voluntary benefit to cut cost.

Once long-term disability coverage is secured, employees can bridge any gaps with a separate short-term plan. Our chosen plan offers rate locking, typically includes coverage for psychiatric disorders, and doesn't offset other benefits they may receive. Employees can take it with them if they leave your employment, avoiding future maternity and/or pre-existing condition scenarios. In essence, it's a plan they can maintain throughout their entire working career.

This benefit is usually fully paid by the employee and can offer a lump sum payment to supplement their short and long-term disability benefits. This helps them maintain financial stability in situations such as heart attacks, strokes, or cancer illnesses.

Whether it's $10,000, $25,000, $50,000, or a coverage equivalent to 1X salary up to a certain amount, ensure your employees have at least some fundamental coverage. However, it's essential not to over-purchase and dissuade them from acquiring their own plans. Surprisingly, people can pass away between jobs.

Encourage and permit employees to acquire additional portable coverage at their own expense. We'll have it accessible in the system for them to select the plan that best suits their needs.

If you reach age 65 without passing away, there's a high likelihood it will occur later. Secure coverage indefinitely, ensuring it can be utilized in a long-term care situation by essentially converting the death benefit to assist in covering nursing home, assisted living, or home health care expenses under qualifying circumstances.

We'll assist in locating a cost-effective record keeper capable of seamless communication with your payroll system. Additionally, if your current system lacks this capability, we can aid in finding a payroll system that does.

We'll gather the data and smoothly transmit it to the provider. We collaborate with contemporary, streamlined companies that prioritize user-friendly websites and prioritize customer service.

The above are the standard plans you will find in most of our clients’ benefits packages, but we can also provide pet insurance, legal expense, identity theft, and anything else you can think of or that is available.