Group Plans

• Group Health
• Managed Care Plans
• Consumer Driven Health Plans
• Self-Funding
• Life Insurance
• Disability Income
• Dental Insurance
• 401(k)

Group Health

Group Health Plans are often the most important employee benefit because employees and their dependents rely upon and utilize them on a daily basis. Employer-based health plans fall into one of two broad categories: managed care plans and consumer-driven plans.

Managed Care Plans

In recent years, other types of medical care delivery systems have been incorporated into employer-sponsored health plans. Many employers are looking to managed care networks as a means of controlling health care costs. Preferred Provider Organizations (PPOs), Health Maintenance Organizations (HMOs), Point-of-Service Plans (POS), and Open Access Plans (OA) have proven to be the most popular forms of managed care networks.

We only represent those managed care programs with a proven track record of easy access to medical care from conveniently located participating physicians, specialists and hospitals. We take the following factors into consideration in selecting the right managed care network for your employee benefit plan:

• Access to the Network

• Geographical Considerations

• Quality of Providers

• Ongoing Quality Assessment

• Network Stability

• Timely Payment of Claims

Consumer Driven Health Plans

Consumer Driven Health Plans are emerging as powerful strategic weapons that can help companies control rising costs and increase the value employees perceive in their health care benefits. The basic foundation of all Consumer Driven Health Plans is a High Deductible Health Plan (HDHP). Employees participating in Consumer Driven Health Plans reach into their own pockets to pay for health care services until they meet their deductibles. During this period, employees learn the actual cost of the health care services they receive. As a result, they become better health care consumers, considering both quality and cost in making their health care decisions. The bottom line is savings for both employers and employees.

Employee education is essential to the success of these plans. Employees participating in Consumer Driven Health Plans must be familiar with the health care system. They require data to evaluate the quality of care provided by hospitals and physicians, and when illnesses occur, they need to understand the health issues that affect them and their families. Providing employees access to to such information is a critical part of designing Consumer Driven Health Plans that allow employees to effectively manage their health care benefits and spending.

We have the knowledge and experience required to help employers determine if Consumer Driven Heath Plans will help them achieve the level of cost savings they desire and meet other important plan design objectives.

Self-Funding

The cost of providing employee benefits can exceed 20 percent of a company’s total payroll. As employee benefit costs continue to escalate, may employers are faced with the choice of either reducing benefit levels or finding some other way to finance their employee benefit programs.

Most mid-size to large employer groups choose to self-fund their employee benefit plans whenever possible. The advantages to self-funding are many. For example:

• Under a self-insured program, the employer assumes liability for only the benefits provided to employees under the benefit plan design chosen. The group experience is not "pooled" with other employers. As a result, the employer does not need to subsidize the inefficiencies or negative utilization experience of other employer's benefit programs or of insurance carriers.

• A self-insured employee benefit program is not subject to the state-imposed benefit mandates required of commercial insurance carriers. Also, in most states, no premium taxes are required on self-funded plans.

• The employer retains money normally held in reserve by the insurance carrier to pay future benefits. Cash flow is improved since the plan only needs to be funded as required to pay claims. The employer retains any savings resulting from lower-than-projected employee utilization.

• Insurance carriers, as a common practice, "load" their premiums with risk charges to offset unanticipated excessive utilization, and also price their products with a 2 to 10 percent "margin" (profit) that is computed as a percentage of total premiums. In other words, carrier clients are paying a margin on their own projected claims experience. Self-insured employers do not pay these fees.

Life Insurance

Life Insurance provides protection for individuals, families and business owners. Various policies offered include:

• Term Life

• Whole Life

• Universal Life

• Accidental Death & Dismemberment

• Joint Survivorship Life

• Adjustable Life

• Business Travel Accident Plans

Disability Income

The impact of instant unemployment from a disabling illness or accident can be devastating. The economic consequences can be staggering. The likelihood of a serious disability occurring is greater than the chance of dying! Disability insurance will protect your personal earning potential and pay your business expenses in the event of disability.

Dental Insurance

Employees consider dental insurance a vital part of their employee benefit package. We work with a variety of plans, which provide the latest in dental plan designs and administrative options at the lowest possible costs.

We offer a full menu of plans including fully insured and self-funded plan options, preferred provider plans and dental maintenance organizations. We also represent a number of voluntary dental programs which allow you to offer competitive group dental plans to your employees on a payroll deduction basis with no employer contribution.

401(k)

A 401(k) plan is an employee benefit program in which an employee can choose to defer a percentage of their income on a pre-tax basis. These plans are a valuable retirement planning vehicle. A 401(k) plan may stand alone or be operated as part of a profit sharing or stock bonus plan.

A 401(k) gives employees the flexibility to choose:

• Whether or not to defer

• How much to defer

• Where to invest

• Change the deferral amount or investments at any time