Health   Dental   Vision   Life   AD&D   Short-Term Disability   Long-Term Disability   Long-Term Care   401(k)   403(b)   Cash Balance   529 College Savings   Key-Man   Buy-Sell Agreement   Non-Qualified Retirement   Group VUL   Flexible Spending Accounts   Dependent Care   Transit Plans   State Continuation   COBRA Administration   Payroll   Online Enrollment

HRIS  Wellness   Predictive Modeling

Health and Welfare

Companies provide fringe benefits to attract and retain valued employees.  Group benefits allow for employees to protect themselves and their families with easy access to preventative care and from the financial risk of catastrophic illness and injury.  Other benefits help with financial planning for the future.  In addition, companies may utilize the tax code so employees can leverage their payroll dollars towards these benefits.  The major benefits offer by companies are:

A company has a lot of flexibility with developing a benefits package for its employees.  There are supplemental plans to augment medical, life, disability, long-term care, and other types of insurance on an employer-paid or totally voluntary basis.  In addition, a company can create its own benefits package based on a "Defined-Benefit" design.  For example, a company can cap the total benefit amount per employee and establish the eligible expenses that will be paid on a reimbursement basis.  These types of plans provide the maximum flexibility to the employee while helping the company controls costs.

Group Retirement

Along with Health and Welfare benefits, many companies also provide a group retirement plan for their employees.  Like Health and Welfare benefits, a group platform provides employees with additional benefits that are not available in the individual market. 

When people hear the phrase “group retirement plan” most think of 401k plans.  This is not 100% accurate, although most retirement plans offered by companies today do utilize Internal Revenue Code (IRC) Section 401(k).

   Executive Benefits

Successful companies depend on employee retention programs to keep the valuable employees they recruit.  In most cases, the key to success is retaining certain key employees.  Many companies will try to retain key-employees with a powerful salary and maybe a non-compete contract clause.  A more effective alternative may be an Executive Benefit program.

The material on this page is intended as general descriptions of the concepts presented.  It is for educational purposes only and it not intended to provide specific financial or tax advice.  These descriptions cannot take into account your specific conditions and situation including the data required for underwriting purposes, financial circumstances, risk tolerance, and other factors.