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Employee Benefits

Owner / Executive Compensation | Retirement Plans | Health insurance | Employee Group & Voluntary Benefits

The cost of maintaining employee benefits can be significant for a small business. Let our team help you determine the most cost-effective plan for your employees, while keeping them happy and engaged.

Retirement Plans

A good retirement plan (401Ks, Profit Sharing plans, Defined Benefit plans, SEP, SIMPLE IRAs etc) can help you attract and retain top talent. A well-designed plan can take things further – it can help cut costs, minimize ERISA/DOL compliance costs while maximizing employee value. To create such a plan, we use a consultative approach that can help with:

  1. Plan Governance / Fiduciary Compliance
  2. Plan Design / Investment Advice
  3. Provider Benchmarking

Owner / Executive Benefits and Executive Compensation Plan can help a business compensate key employees and help retain many of these highly sought after employees.

Health Insurance

There is a lot of turmoil in the health insurance industry, including double-digit growth in premiums. Your options are usually based on shopping insurance plans among carriers – this is no longer your best solution. Most businesses can find a better solution for their employees and keep costs low by enhancing their health insurance benefits with a combination of plans below:

  • Health Savings Accounts (HSAs)
  • Health Reimbursement Arrangements (HRAs)
  • Medical Reimbursement Plans
  • Return of Premium Plans
  • Risk sharing
  • Professional Employer Organizations (PEOs)

Group and Voluntary Benefits

Group disability and group life plans add peace-of-mind as they offer relief from unforeseen events. We provide advice on these types of plans without carrier bias and can help negotiate with the carrier.

  • Group Disability Insurance –
    • Short-Term Disability (STD) – Employers typically opt for a % replacement of income for STD which typically offers 6 months of coverage.
    • Long-Term Disability (LTD) – Funds from STD benefits can run out before the employee can resume work, placing great stress on the employee’s finances. A well-designed LTD plan can help avoid this situation.
  • Group Life Insurance – Life Insurance helps your employees and their families have financial security. An employer can choose to replace a % or specific amount of an employee’s income.
  • Voluntary Benefits – A well designed voluntary benefits plan can greatly augment employee satisfaction and drive retention.  Critical Illness

Discover how we can help you create a cost-effective, robust employee benefits package. Contact us here to set up an initial consultation.

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