Employee Benefits

Group insurance is an economical way of providing insurance protection against financial losses (such as those caused by death, disability, medical care expenses or retirement) of a group of individuals who are associated with the policyholder by some relationship other than insurance.  For more information, please contact us.

Listed below are the benefits we can help you with. 

General Information

•  How to get quotes for employee benefit programs

•  Medical


•  Dental

•  Vision

•  Long Term Disability

•  Life & Universal Life

•  Retirement Plans

•  Voluntary Benefits


 

How to get quotes for employee benefit programs

There are various ways to secure quotes for employee benefits through our agency and we want to make your fact finding as easy and as informative as possible. Thus we have the various tools, some on this Web site, to assist you. You may:

1) Phone us and request an appointment at (408)995-6851.

2)   E-mail us and tell us what you would like help with and instruct us as to how you would like us to follow up with you.

3) Download our Basic Excel Census template, complete it, and e-mail it to us with a request for follow up and/or specific instructions.

 

MEDICAL

3 BASIC GROUP MEDICAL INSURANCE CATAGORIES

1) Group Medical Plan for a Business with fewer than 50 W-2

 employees (with a minimum of  2)

Companies with fewer than 50 employees secure group medical insurance  under the guidelines established by Assembly Bill A.B.1672. Briefly, this law:


  • Mandates that Health Insurance is Guaranteed Issue for covered firms.
  • Requires the Carriers to file their rates with the state and charge only those rates.
  • Puts ceilings on the level of rate increases that groups can experience.



All of the plan designs are available for groups as low a 2 persons, and quite often a firm can offer 2 or more plans to their employees. There are two sub-groups in this under 50 category. Companies that employ 20 or more must comply with Federal COBRA. Companies in the state of California that employ less than 20 are required to comply with the Cal-COBRA laws.


2) A Group Medical Plan for a Business with over 50 W-2 employees


Group plans for over 50 employees are not governed by Assembly Bill AB 1672 as described in the Group under 50 employees section.  As a result rates may be calculated based on health information, demographic, turnover, and employment risk factors in order to determine if and for what premium they will offer medical insurance to your group. One challenge when arranging multi carrier plans for your large group medical plan(s) is meeting the various participation guidelines established by each carrier. Please contact us for help in shopping for rates and putting together a multi carrier plan .


3) Self-Funded Group Insurance Arrangements. 


The most cost-effective plans are for groups of 25 W-2 employees, but can be reviewed on a case-by-case basis.There are various situations where companies choose to partially self-insure all or parts of their medical insurance plan(s). The most obvious opportunity to self-insure is when the total financial risk of self-insuring is less than the cost of the fully insured plan costs being offered to your firm. There are numerous potential advantages to self-insuring and there can be serious financial consequences for not doing your homework. Please contact us  for an analysis of which type of program works best for your situation.


 


DENTAL


As with medical there are different categories your group may fall under.  Please contact us for further information.

 


VISION


As with medical there are different categories your group may fall under.  Please contact us for further information.


 


LONG TERM DISABILITY


Insurance coverage which provides individuals with an income if they become sick or hurt and cannot work.  Group policies are usually paid for by the company.


 


LIFE INSURANCE


Individual life insurance policies on each employee.  Generally a base policy is paid for by the company and additional coverage is made available to individuals if they want to pay for it.


 


RETIREMENT PLANS


Qualified retirement plans enable employees to put money away for retirement.  It is deducted from their pay check prior to taxes.  Often companies match a percentage of an employee's contribution.  Types of qualified retirement plans include:



  1. 401(k) plans
  2. 403(b) plans
  3. Profit Sharing Plans
  4. SEP Plans
  5. Custom Carve Out Plans



Contact us for information about which plan would fit your needs. 


 


VOLUNTARY BENEFITS


Voluntary benefit plans enable employers to offer a complete line of benefits without having to pay the benefit costs.  Employees choose form a list of benefits which they pay for themselves either through payroll deduction or bank transfer.  In some instances voluntary benefits decrease employer FICA, Medicare, Workers Compensation and Unemployment payroll tax liabilities and may increase their P/L statement.    Contact us for more information.