Professional Insurance Programs

Employee Benefits

Employee Benefits

workersFor employers, providing a comprehensive employee benefits package has always been key to hiring and retaining exceptional employees. Unfortunately, doing so has become increasingly challenging. As a full service agency, we can assist you in creating a program that works for your office.

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Health – Group health insurance coverage usually gives your staff access to a more affordable alternative to an individual policy. Plus, group health benefits can be a huge selling point for potential employees and may be a key factor in attracting and retaining top talent. Self-funded, Preferred Provider Organization (PPO) and Health Savings Account (HSA) options available.

Dental – Dental insurance contributes to the oral health and overall wellness of your employees. Can be taken out as voluntarily or contributory.

Vision – Vision insurance typically comes in the form of either a vision benefits package or a discount vision plan. Can be taken out as voluntarily or contributory.

Life Insurance – Group term life insurance is typically provided in the form of yearly renewable term insurance with flexible options such as a set amount or up to 5x annual salary. Can be taken out as voluntarily or contributory.

Long Term Disability (LTD) – When an employee cannot work for an extended period of time, a long-term disability insurance plan can help cover a portion of their missed salary. Long-term disability insurance usually begins after a short-term disability policy has reached its end. Can be taken out as voluntarily or contributory.

Short Term Disability (STD) – Short-term disability insurance pays a percentage of an employee’s salary for a specified amount of time, if they are ill or injured, and cannot perform the duties of their job. Can be taken out as voluntarily or contributory.

Health Reimbursement Account (HRA) – HRA plans are employer-funded medical reimbursement plans. The employer sets aside a specific amount of pre-tax dollars for employees to pay for health care expenses on an annual basis. Based on the plan design, HRAs can generate significant savings in overall health benefits.

Flexible Spending Account (FSA or Section 125 plan) – Allows employees to pay certain qualified expenses on a pre-tax basis. Funds set aside in FSAs are not subject to federal, state, or Social Security taxes. On average, employees save from $.25 to $.49 for EVERY dollar they contribute to the FSA.

ERISA/COBRA compliance bundle – Administration of ERISA, COBRA and other employee benefit compliance. Bundle with FSA available. We also offer WDA and WVMA member pricing. Click here for more information on this bundle.

 

Frequently Asked Questions

What are contributory plans?
Contributory plans are plans where the employee pays a portion of the premium and the employer pays the rest.

What are voluntary plans?
Voluntary plans are 100% paid by the employee. Employees can choose which voluntary plans are best for their own situation. Some voluntary plans pay cash benefits directly to employees to cover living expenses, lost wages, co-payments and deductibles. Other benefits include disability insurance, life insurance, vision insurance and dental insurance..

What are the benefits to employers on providing voluntary plans?
Employers can provide a more robust workplace benefits package to employees without affecting their bottom line. Employees pay 100% for Voluntary Plans but realize a group savings rate through their employer.

What are the benefits to employees on being offered voluntary plans?
Individuals can provide added protection for themselves and their families. Employees have the flexibility, and convenience, to choose the Voluntary Plans that best meet their own personal needs.