Group health insurance is a type of insurance that covers a group of people, usually employees of a company, under a single policy. The employer typically pays a portion of the premium for the employee's coverage, and the employees may also be required to contribute towards the cost of their coverage. Group health insurance can offer a range of benefits, including access to a wide network of healthcare providers, low out-of-pocket costs for covered medical services, and coverage for a broad range of healthcare needs. Some group health insurance plans also offer additional benefits such as dental and vision coverage.

Group dental insurance is a type of insurance that covers a group of people, typically employees of a company, under a single policy for dental care services. The employer typically pays a portion of the premium for the employee's coverage, and the employees may also be required to contribute towards the cost of their coverage. Group dental insurance can help cover the cost of a wide range of dental care services, including routine cleanings and check-ups, x-rays, fillings, and extractions. Some group dental insurance plans also offer coverage for more specialized services such as orthodontic treatment. Group dental insurance can be a valuable benefit for employees, as it can help to reduce the out-of-pocket costs for dental care and make it more affordable for them to maintain good oral health.

Group vision insurance is a type of insurance that covers a group of people, typically employees of a company, under a single policy for vision care services. The employer typically pays a portion of the premium for the employees' coverage, and the employees may also be required to contribute towards the cost of their coverage. Group vision insurance can help cover the cost of a wide range of vision care services, including routine eye exams, eyeglass frames and lenses, and contact lenses. Some group vision insurance plans also offer coverage for more specialized services such as laser eye surgery. Group vision insurance can be a valuable benefit for employees, as it can help to reduce the out-of-pocket costs for vision care and make it more affordable for them to maintain good eye health.

Group life insurance is a type of insurance that covers a group of people, typically employees of a company, under a single policy. The employer typically pays the premiums for the employee's coverage, and the employees do not have to pay anything toward the cost of their coverage. Group life insurance provides financial protection to the employees' beneficiaries in the event of the employee's death. The amount of coverage provided under a group life insurance policy is usually based on the employee's salary and may be a multiple of the employee's salary, such as two or three times the employee's annual salary. Group life insurance can be a valuable benefit for employees, as it can provide financial security for their loved ones in the event of the employee's death.

Group disability insurance is a type of insurance that covers a group of people, typically employees of a company, under a single policy. The employer typically pays a portion of the premium for the employee's coverage, and the employees may also be required to contribute towards the cost of their coverage. Group disability insurance provides financial protection to employees in the event that they become unable to work due to a disability. The amount of coverage provided under a group disability insurance policy is usually based on the employee's salary and may provide a percentage of the employee's salary, such as 50% or 60%, as a benefit. Group disability insurance can be a valuable benefit for employees, as it can provide financial support in the event that they are unable to work due to a disability.

A group retirement plan sponsored by an employer is a type of retirement savings plan that is offered by an employer to its employees. The employer typically offers the plan as a benefit to its employees and may contribute to the plan on behalf of the employees. There are several types of group retirement plans that employers may offer, including defined benefit plans, defined contribution plans, and cash balance plans.

Defined benefit plans, such as pension plans, provide a guaranteed benefit to employees when they retire based on factors such as their salary and years of service. Defined contribution plans, such as 401(k) plans, allow employees to contribute a portion of their salary to the plan, and the employer may also contribute to the plan on behalf of the employee. Cash balance plans are a type of defined benefit plan that combines features of both defined benefit and defined contribution plans.

Group retirement plans can be a valuable benefit for employees, as they provide a way for employees to save for retirement and may also offer tax benefits. Employer contributions to the plan can also help to increase the total amount of money available to employees when they retire.

Voluntary insurance benefits, also known as voluntary employee benefits or voluntary benefits, are additional insurance coverage options that are offered to employees by their employer but are not a part of the core employee benefits package. These benefits are typically offered through a workplace benefit program, and employees have the option to enroll in the coverage and pay for it themselves, either through payroll deductions or by paying the premium directly. Voluntary insurance benefits may include a wide range of coverage options, such as life insurance, disability insurance, accidental death, and dismemberment insurance, cancer, hospital indemnity, critical illness insurance, and pet insurance.

Voluntary insurance benefits can be a valuable addition to an employee's overall benefits package, as they can provide additional protection for the employee and their family. These benefits can help to fill gaps in coverage that may not be addressed by the core employee benefits package, and can also be tailored to meet the specific needs of the employee.

COBRA administration can be a significant drain on your internal resources. Factor in the consequences of non-compliance and it's easy to understand why employers turn to our vendor to manage this burdensome administrative task.

The COBRA administration specialists affiliated with your agency will generate and mail the required notifications following the initial notice, as well as track, document and update all COBRA-related events. We also have them provide and maintain the necessary documentation to respond to an Internal Revenue Service audit of your COBRA practices.

Complying with the Federal laws that regulate health and welfare benefits have always been challenging for employer groups. The addition of the Affordable Care Act (ACA) has created a confusing environment and has increased federal mandates and requirements to comply. Human resources departments are being asked to do more with less and employers are looking for guidance from outside sources.

Our Vendor provides product options and services to ensure employers remain in compliance with both current and future obligations.

Executive benefit plans are a type of employee benefit plan that is offered by a company to its top executives or key employees. These plans are designed to provide additional financial benefits to executives beyond their salary and regular employee benefits. Executive benefit plans may include a wide range of benefits, such as deferred compensation plans, executive bonus plans, and non-qualified retirement plans.

Deferred compensation plans allow executives to defer a portion of their salary or bonuses until a later date, usually upon retirement. Executive bonus plans provide additional financial rewards to executives based on the company's performance or the executive's individual performance. Non-qualified retirement plans are retirement savings plans that are not subject to the same rules and regulations as qualified retirement plans, such as 401(k) plans, and may offer executives more flexibility in terms of how they save for retirement.

Executive benefit plans can be a valuable tool for attracting and retaining top talent, as they can provide executives with additional financial security and help to align their interests with those of the company.

A Health Savings Account (HSA) is an individually owned, tax-favored account that allows consumers to pay for qualified healthcare expenses.

An HSA must be coupled with a High Deductible Health Plan (HDHP) to receive the tax advantages allowed by the IRS. Premiums associated with an

HDHP should be lower than a traditional plan, allowing employees to capture the savings to fund an HSA. Similar to a 401 (k) savings plan, individuals can make tax-deductible contributions into an HSA and the account can earn interest tax-free. HSA funds can then be used to pay for any qualified, out-of-pocket medical expenses. HSAs are also commonly used to pay for deductible and prescription drug expenses.

Once the deductible is met, the health plan begins paying some or all covered expenses, depending on the plan selected.

A Section 125 Premium Only Plan (POP) is a type of employee benefit plan that allows employees to pay for their share of the group health insurance premiums on a pre-tax basis. This type of plan is authorized under Section 125 of the Internal Revenue Code and is also known as a cafeteria plan. By paying premiums on a pre-tax basis, employees can reduce their taxable income and lower their tax liability.

To participate in a Section 125 POP, an employer must set up a plan and offer it to all eligible employees. Employees then have the option to elect to have their share of the premiums deducted from their pay on a pre-tax basis, rather than paying the premiums with after-tax dollars. The premiums are withheld from the employee's pay and deposited into a special account, which is then used to pay for the employee's share of the group health insurance premiums.

Section 125 POPs can be a valuable benefit for both employers and employees, as they can help to reduce the cost of health insurance for both parties. Employers may also be able to take a tax deduction for the premiums they pay on behalf of their employees under a Section 125 POP.

HEALTH CARE, DEPENDENT CARE, LIMITED PURPOSE, COMMUTER, ADOPTION

Flexible benefit plans, also known as Cafeteria Plans or Section 125 plans, offer employers and employees payroll tax savings. These plans allow employees to set aside money pre-tax to pay for health insurance and various medical and dependent care expenses.

Employers can elect to offer multiple types of accounts each providing a valuable benefit to employees. Below is a partial list of expenses that can be reimbursed through the various accounts.

TRADITIONAL, SPOUSE SAVER, ICHRA, QSEHRA

A Health Reimbursement Arrangement (HRA) is a stand-alone, employer-funded plan commonly combined with a High Deductible Health Plan (HDHP). An HRA allows employers to fund an account to pay employees' medical expenses that are not covered by insurance such as deductibles, copays, or co-insurance.

Employers determine when HRA funds are available to employees, what expenses can be reimbursed, and how unused funds are disbursed upon employee termination. Reimbursements on qualified expenses are tax-deductible for the employer and tax-free for the employee. If elected by the employer, unused funds can also be carried forward.

There are various ways for an employer to design an HRA. Our vendor can assist employers with an HRA plan design that best fits their company. We will provide the adoption agreement as well as assist in the creation of communication materials for employees and provide ongoing administration for adjudicating claims and issuing reimbursements.

HEALTH & WELLNESS, STUDENT LOAN PAYBACK, ACTIVITY FEES, APPAREL

Our vendors Lifestyle Savings Account (LSA) is sponsored and funded by your company to help your employees support the health and wellness activities in their lives. An LSA is similar to account-based benefits you’re already familiar with, like health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs), but it’s a flexible benefit plan that provides funds specifically for health and wellness products and services.