Employee Benefits
Whether you are implementing a new benefits package or assessing your current package, we offer a full spectrum of consulting services to assist you. No matter what the size or type of business you are in, our professionals will be sure you get the best products at the best price. We have key relationships with leading carriers/vendors and have the flexibility to customize benefit packages. We offer our clients access to a broad range of products and the ability to design a benefit package that will meet their needs – and the needs of their employees.
Employee Benefits may include:
Medical benefits are the most popular benefit you can offer your employees. Medical Benefits provide services or payments for services rendered in the hospital or by a qualified medical care provider. There are many different types of medical insurance policies such as:
Fee-for-service plans
- Health Maintenance Organization (HMO)
- High-deductible health plan (HDHP)
- Point-of-service plans (POS)
- Preferred Provider Organization (PPO)
- Exclusive Provider Organization (EPO)
- Traditional fee-for-service plans
- Health Saving Account (HSA)
- Health Reimbursement Accounts (HRA)
- Flexible Spending Account (FSA)
- Premium Only Plan (POP)
There is a strong correlation between oral health and overall medical health. As a result, dental benefits are becoming more significant in the quest for wellness. Dental plans provide services or payments for restorative care and related dental services.
Vision benefits provide coverage for the nonsurgical improvement of eyesight, including coverage for eyeglasses and contact lenses. Coverage typically is limited and is subject to applicable copayments or scheduled case allowances.
Life insurance provides a lump sum payment to a beneficiary of the deceased employee. Companies may provide a basic flat amount of coverage or coverage based on the employee’s age, income and occupation. You may also allow employees to pay for additional amounts of coverage.
- Short Term Disability
- STD plans provide income replacement for non-work related accident or illness. Benefits are paid as a percentage of the employees’ earnings or as a flat dollar amount.
- Long Term Disability
- LTD plans provide income replacement for employee’s that are unable to work, for an extended length of time, due to non-work related accidents or illnesses. Benefits are usually paid as a fixed percentage of the employee’s pre-disability earnings, to a set maximum and are typically paid until Social Security benefits start.
Long-term care insurance is a type of insurance developed specifically to cover the costs of long-term care services, most of which are not covered by traditional health insurance or Medicare. These include services in your home such as assistance with Activities of Daily Living as well as care in a variety of facility and community settings.
Voluntary benefits provide employees specific coverage’s at a group rate. Voluntary Products have traditionally consisted of several types of insurance products which in addition to the core benefits provided by employers are designed to address the personal needs of employees. Offering voluntary benefits can compliment your employee benefits package. Voluntary Products are made available to the employee base, generally with little or no cost to the client.
Products include:
- Life Insurance
- Dental Insurance
- Disability Insurance
- Cancer Insurance
- Accident Insurance
Simply put, health insurance is protection against medical costs. If your employer does not offer a health insurance plan, or you don’t have an employer, you may wish to purchase health insurance on your own.
Association plans are alternatives to traditional group insurance for specific association groups. The idea is simple: strength in numbers. Because of an association’s high numbers and purchasing clout, we may be in a better position to negotiate premium rates with insurers on your behalf. Premiums and rates are reasonable because we have relationships with certain vendors to allow specific, dedicated Association Programs through The Health Consultants Group.
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