Objective advice, and professional service
We are a full-service independent insurance agency that specializes in insurance for businesses, small to large.
We offer assistance with plan design on qualified health plans (major medical), dental, vision, voluntary benefits, life and disability insurance.
Having solid employee benefits is a sound strategy to attract and retain quality employees. It also can impact the owners’ personal health and financial stability.
Major Medical Insurance
When selecting a plan to offer your eligible employees, there are multiple important factors that affect the premium and care received. These factors need be carefully considered, when designing your plan:
- Provider network
- Fully insured vs. self-funded plans
- Plan type, HMO, PPO, POS
- Co-payment plan vs. out-of-pocket for doctor visits
- Medically underwritten or census based.
- Employer contribution towards employee, and family, if applicable.
Vision and Dental Plans
Similar to major medical insurance, there factors that will affect premium and coverage to eligible employees, including:
- Provider network
- Dental plan type, DHMO, DPPO, Fee-for-service or discount plans
- Orthodontia included, annual limit
- Routine care vs minor and major treatment cost share
- Lenses, frames and contacts allowance
- Employer contribution to monthly premiums
Group Life and Disability Insurance
Most people are uninsured or under-insured for life and disability insurance which replaces the employee’s income and protects the family in the event of an untimely death or disability due to illness or an accident. Things to consider when offering a plan:
- Elimination period for short-term disability
- Contribution to premium for short term and long term disability
- Employer-provided life insurance amount (multiple of salary)
- Employee paid supplemental life insurance option
Section 125 (Cafeteria) Plan
A section 125 plan, commonly known as a cafeteria plan, allows payment of benefits on a before-tax basis, bringing tax savings to both employees and the employer.
The design and implementation phase includes the installation of a cafeteria plan (section 125 of the IRS Code) at no cost to the employer.
Employer contributions to the cafeteria plan are usually made through a salary reduction agreement between the employer and the employee in which the employee agrees to contribute a portion of his or her salary on a pre-tax basis to pay for the qualified benefits.
A section 125 plan allows an employer to offer employees a choice between taxable and nontaxable benefits.
Voluntary benefits are employee-paid indemnity insurance policies that pay the employee an agreed-upon amount when certain events happen. Employees can only opt in through an employer-sponsored group
The most common coverage offered are:
- Hospital indemnity
- Critical illness
These policies are designed to help with out-of-pocket expenses and are portable if the employee leave the company.
Bilingual Enrollment Services:
Communication and education about your benefits is crucial and can affect participation. We offer enrollment services in Spanish.
Self-Funded vs. Fully Insured:
New small group plans may start at any point in time in the year.