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:
- 401(k) plans
- 403(b) plans
- Profit Sharing Plans
- SEP Plans
- 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.
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