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Medical
Health Savings Accounts
Dental
Vision
Life Insurance
Disability
Long-term Insurance
Employee Assistance Program
Retirement Plans
Supplemental Benefits
Health
insurance often forms the basis of an employers’ fringe
benefit plan. Many employers offer some form of
coverage to employees. The key is to find the right
balance of cost and coverage. The building blocks of
medical plans include plan design, provider networks and
employee/employer participation. Many, many options
exist- a benefit broker will help you find the right
plan for you and your employees.
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One of the
options of a group medical insurance plan, many
employers find HSAs a good alternative to traditional
plans. Combining a high deductible health plan with a
tax deductible savings account for medical expenses,
these plans are popular particularly among healthy
employees who want to save for future expenses.
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Dental
insurance plans are one of the most requested benefits
by employees and families. Of particular concern to many
employers are what dentists are in the network and the
cost of the benefits for each person. While there are
many similarities in dental plan designs, a plan can be
customized for the needs of you and your employees.
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Vision
Information
coming soon.
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Group Life
Insurance is an important benefit for groups. Employers
may provide this additional financial security for
employees at an affordable price. Employees name
personal beneficiaries and generally do not need proof
of good health.
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Disability
Group
Disability Income Insurance provides financial security
for employees who depend on their paycheck. Many
employers offer this protection for short term and/or
long term disabilities. Group rates are affordable and
generally all active employees will qualify for
coverage.
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Long-term
Care Insurance
Many
employers choose to offer Long Term Care Insurance
Benefits to their employees on a group basis. Employers
may offer the coverage as a voluntary benefit through
payroll deduction, purchase a small benefit for all
employees and allow workers to “buy-up” for more
coverage, or provide full benefits. Group Long Term
Care plans offer discounted rates and fewer (or no)
health questions.
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Employee
Assistance Program
EAPs will
provide services for your employees and their immediate
family members for overcoming the conflicts, demands,
and problems of modern life. The programs are a
confidential, professional counseling service provided
away from the place of employment. Services are
typically available 24-hours per day, 7-days per week
and may include Elder Care, legal and conflict
resolution issues.
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Retirement
Plans
Retirement
Planning is an important financial issue for all
workers. A variety of plan designs are available such
as 401(K), profit sharing and SIMPLE IRA or SEP. An
employer may consider the age and compensation of
employees, the company’s profit history, plan
administration costs and the level of employee
contributions expected in determining the best plan
design.
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Supplemental
Benefit Plans
Many
employers choose to offer plans to employees
or on a voluntary basis through payroll deduction, such
as vision (exam and hardware), cancer or serious disease
coverage, accident insurance, intensive care or
supplemental hospital coverage, health club memberships
or flexible spending accounts. Employees select the
coverage that is important to them and to their
families. Often these plans will be offered through a
Section 125 Cafeteria Plan. |
