More about Worksite (Voluntary Benefits) Benefits

Worksite Benefits, also referred to as “voluntary” benefits, are an essential benefit option that helps to enrich your employees’ lives and safeguard their financial security, all at little or no cost to you.  Premiums are paid by employees at discounted group rates and through pre-taxed payroll deductions.

Worksite benefits play a critical role in helping employees offset rising out-of-pocket healthcare costs by augmenting and enhancing the employer sponsored benefit package.  Following are just a few more advantages of offering voluntary benefits, and what many employees are now saying in a post-pandemic world, are a “necessity” when searching for a new employer.

• Allows employees to tailor coverage to fit their personal needs.
• Creates financial wellness by providing benefits that go beyond traditional employer paid benefits.
• Lower’s payroll taxes for both employer and employee.
• Increases job satisfaction, loyalty and employer’s ability to attract the very best talent.
• Provides a financial safety net for your employees, giving them piece of mind and consequently boosts your morale and productivity.

Additionally, our user-friendly benefit management portal makes it easy for employers to add worksite benefits, without adding costs to the bottom line.

Worksite benefits available include highly desired benefits such as Accident, Critical Illness, Disability, and Life Insurance, as well as telemedicine, Dental and Vision and more.  To get details on these benefits,

and click the links provided below.

Whether you are an employer, or an Individual, GBP has many non-ACA opportunities to save on health insurance.

For example, an Individual Supplemental Health Plan or Voluntary Worksite Benefit such as an Accident, Cancer, or a Hospital Plan will cost you a lot less than an unsubsidized major medical plan and can protect your finances should the unexpected happen.

INDIVIDUALS CLICK HERE to review your cost-saving options.

EMPLOYERS CLICK HERE to review your cost-saving options.

Medicare Eligibility and Enrollment

Annual open enrollment – October 15th through December 7th.

When you are becoming eligible for Medicare, your initial enrollment period starts 3 months before your 65th birthday, and includes your birthday month, and ends 3 months after your 65th birthday.

You can apply online or call your local Social Security office. You’ll enroll, create your Medicare account, track your Medicare information such as bills, claims, health information and more, as well as print your Medicare card.

Once initially enrolled, you must act during the annual open enrollment mentioned above if you need to switch to Medicare Advantage or change your existing Advantage or Drug plan.

While Medicare Supplement plans can be purchased anytime of the year, note you have a once in a lifetime window that begins the month you become eligible for Medicare and allows you to enroll in any Medigap plan without answering health questions, meaning you won’t be denied coverage or pay higher premiums for health problems.  After this window closes, if you wish to buy a Supplement plan, you can do so at any time of the year, but you’ll most likely have to go through medical underwriting.

Special Medicare Enrollment

When open enrollment is closed, there are special circumstances in which one may qualify to enroll outside of the enrollment period. Listed below are the qualifying events:

• You are turning 65
• You move to a new area that is not in your current plan’s service area
• Recently moved back to the US
• You lose your current coverage (either Group or Medicaid)
• You now need a SNP (Special Needs Plan) or you no longer need a SNP

Medicare Part D (Prescription Drug Coverage)

Prescription drug coverage offered by private carriers contract with Medicare. Because premiums vary greatly, you should carefully weigh your prescription costs against all variables of these plans. Selecting the wrong plan can wind up costing you thousands.  Some Medicare Advantage plans may offer prescription coverage as well.

Please note that you should sign up for Part D (even if you do not have prescriptions) when you first turn 65, as waiting may result in a costly monthly penalty added to your premium.

Medicare Supplements

Medicare Supplement Insurance policies complement your Original Medicare Parts A and B. They cover some, if not all, of the expenses that Part A and B do not cover, like co-pays, deductibles and other charges.

There are many different types of Medicare Supplement policies available, however they are regulated so the benefits for these various policies (known as Medigap Plan A through N), are all the same regardless of the carrier, the only difference is in the premium. Premiums vary greatly depending on how the carrier prices the policy, which is dependent on different factors such as age or geographical location.  Ultimately, the best supplement plan is one that is purchased from a quality carrier, has a low premium and leaves you with the least or no out of pocket expenses. Note:  Most of our carriers offer multiple standardized flexible plan designs with a Medicare Part D (prescription drug) coverage option.

Medicare Advantage Plans

Medicare Advantage Plans are offered by private carriers and replace your original Medicare Parts A and B, as they are rolled into one plan.  You can select between an HMO or PPO, and many plans cover more of your healthcare costs and have additional benefits, such as dental, vision and prescription drug coverage. Premiums vary based on coverage, carrier and geographical location.

According Kaiser, the average Medicare recipient has over 20 Medicare Advantage plans to choose from.  Ultimately, the best plan is one from a quality carrier, has no or a low premium, and leaves you with the least out-of-pocket healthcare expenses.

Long Term Care Plans

Long-Term Care (LTC) recipients are not “sick” in the traditional sense.  Instead they are unable to perform some or all of the activities of daily living such as:  dressing, bathing, eating, getting in/out of bed, toileting, walking or other basic activities.  Long-term care encompasses a wide array of services that fall under two general categories – skilled care and personal care. Skilled care is provided when recovering from an illness or an injury.

Personal care helps maintain the daily activities and functions of life.

Long-term care is usually not medical care and generally does not require a doctor or a nurse.  The need for LTC is not always age related.  Although more than half of all individuals age 65 & over will need LTC at some point, it is important to note that roughly 40% of those receiving LTC today are between the ages of 18 and 64.  It is never too early to plan for long-term care.

Long-Term Care services generally are not covered, or covered only minimally, by health insurance, Medicare or Medicaid. The cost of LTC can quickly drain even a large estate and burden those closest to you both financially and emotionally.  Long-Term Care insurance can avoid those difficult situations, as well as enabling you to maintain control of your care and your choice of the facilities that best suit your needs, instead of allowing welfare or the government to make your LTC decisions for you.  You should be aware that Disability Income Insurance is not designed to cover LTC expenses, but simply replaces part or all of your income during your working years should you become disabled. You need specific coverage to pay for long-term care needs.

Here are examples of what LTC policies may cover:

• Institutional Care: Nursing home, assisted living services residential care facility, hospice care, adult foster home, respite care and more.
• Home Care: Home health care, adult day care, personal care, homemaker services, hospice  care, respite care and more.

Disability Plans

Disability Insurance protects your ability to earn a living during your working years. In other words, it protects one of your most valuable assets. And, this is pretty important considering that statistics show our chances are greater of becoming disabled than dying between the ages of 25 & 45. During the time you are unable to work due to a qualifying disability (illness or injury), the replacement of your regular income through a monthly benefit provided by disability insurance helps to maintain your pre-disability lifestyle.

Employers often provide standard short-term disability (STD) and long-term disability (LTD) insurance to meet federal guidelines. Individual disability income insurance can be customized to meet your needs and considers your occupation, age, income and other factors in determining your cost and monthly benefit payment amount.

While self-employed individuals, and those employees not offered disability through their work, most often purchase individual disability plans, other employees purchase individual coverage as a “wrap around” plan to supplement their employer provided coverage.

Types of Disability Coverage

A standard Short Term Disability (STD) policy allows for income payments to begin after a two-week waiting period. Payments will continue to the insured until they max out the benefits. Total benefits for a STD could last for anywhere from one month to two years, depending on the policy.

A Long Term Disability (LTD) policy allows for income payments to begin after a ninety-day waiting period, although it could be much longer depending on the policy. Once payments begin, they will continue far longer than STD. The total benefits for a LTD could last for a few years, up to age 65, or even for life.

Short Term Health Plans

Short Term Medical Plans, also sometimes referred to as Catastrophic Health Plans, can be purchased any time of the year and help to bridge gaps in coverage.  Length of coverage may vary by state and be up to 1 year with an option to renew for longer terms.  This type of coverage is less expensive than traditional health insurance because it does not provide full coverage, nor does it cover pre-existing conditions. Additionally, these plans do not contain the essential benefits required by the Affordable Care Act (ACA).

Life Insurance

Protect the people you love the most. When you can’t be there, life Insurance helps pay for your final expenses, your mortgage, your taxes, and the living expenses of your loved ones when they no longer have your income.  It can also cover your children’s education and more.

BASIC TYPES OF LIFE INSURANCE

Term Life Insurance
Term Life is a simple, budget friendly life insurance solution for young people, families on a budget, and for people who may want to convert their term policy to a more permanent solution later down the road. You may also want to supplement a permanent life insurance policy. Generally, it provides the largest immediate amount of protection for the lowest cost and pays a death benefit upon your death.  Term Life covers you for a set period of time, provided you pay the monthly premium, or in some instances, a lump sum in advance. The policy will pay to the named beneficiary the face amount of the policy (set benefit and/or lump sum) upon death of the insured within the stated term. Depending on the policy, it may also make payments upon terminal or critical illness.

Permanent Life Insurance
This type of life insurance policy has multiple purposes, however, can be a good fit for anyone who has loved ones who depend on them.  Young people who want to invest in their future, or someone nearing retirement may also consider permanent life insurance.   Permanent life insurance provides a death benefit to help your family maintain their lifestyle after your death and pays your final expenses and debts.  However, it also helps you build wealth and save for the future by building a cash value.  Several other advantages of permanent life include borrowing against the policy or building a tax deferred investment income.

Whole Life, Variable Life and Universal Life are all types of cash value life insurance. Cash value insurance is also known as permanent life insurance because it provides coverage for the policyholder’s entire life.

Life Insurance can be complex.  We recommend you call us for more details

Dental and Vision Plans

Individual Dental Plans
Individual and family dental plans or policies are relatively inexpensive but can go a long way in promoting your overall health. Studies have shown that regular dental exams can not only optimize oral health to prevent cavities and bad breath, they also detect serious medical conditions such as heart disease and diabetes. Some studies have even shown that people who have dental insurance suffer less from depression, than those who do not have coverage.

Dental plans can range from a PPO or HMO to Pre-Paid, Fee-for-Service, and Discount on a variety of diagnostic and preventative care services including cleanings, exams, x-rays, fillings, orthodontia for children, and emergency care while traveling.

Individual Vision Plans
Take care of your eyes with an individual vision plan that can be purchased separately or combined with your major medical insurance. Similar to individual dental policies, vision plans are inexpensive and save money on routine exams, eyeglass frames and lenses, contacts, and even discounts on procedures like LASIK. Monitoring your eye health with regular exams also helps to prevent serious eye diseases like glaucoma and cataracts and also helps to detect early stages of diabetes, high blood pressure, and high cholesterol.

Comprehensive Health Insurance

We offer a variety of individual and family major medical health insurance plans from some of the best carriers in the nation.   Plans are available both on and off the Health Insurance Marketplace.

Health Maintenance Organization Or HMO
An HMO offers lower premiums and a significant savings on routine and preventative healthcare. However, this type of health plan requires you to appoint a primary care physician and to use doctors and facilities that are affiliated with the HMO. Thus, if you use healthcare service providers outside of the HMO, there is a good chance those charges won’t be covered by your policy. But, the great thing about an HMO is that the only charges you incur, outside of your premiums, are co-pays for doctor’s visits and other services such as procedures and prescriptions.

Preferred Provider Organization Or PPO
A PPO will save you money on services if you use the preferred providers within the network. Keep in mind that deductibles must be met on this plan before some services will be covered. The good thing about a PPO is they generally will allow a certain amount of services annually outside of the deductible with a small co-pay, and most often the PPO has a large network with quality care providers and excellent prescription drug coverage.

Health Savings Account (HSA)
An HSA is a tax-advantaged bank account tied to certain high-deductible health plans. It allows you to use tax free dollars to pay for allowable health expenses, such as copays, prescription drug costs and more.

Wellness Benefits
Most insurers include wellness benefits in their comprehensive coverage, designed to improve lives and keep members healthy. Your plan from the Covered California will generally include services like preventative screenings, free or discounted gym memberships, diet advice, disease management, telehealth, and much more.

Protect Your High-Earning, Valuable Key Employees and Your Business

Typical Group Life and Disability insurance offered to employees usually only cover a fraction of a key executive’s high income. Providing a customized benefit package to wrap around the group plan for key executives not only protects the executive and his/her family, but also the business in the event of a sudden critical illness or death. Executive benefits can include supplemental life insurance and/or carve out disability, and plans may be structured to avoid taxation of benefits at the time of claim.

Following are some more specific examples of Key-Person Executive Benefits.

A Key Person Life Insurance policy is designed to protect your business should one of the main partners pass away unexpectedly.  This policy will name your business as the beneficiary and premiums are billed under the business name.  Benefits and premiums are tied the value you have established through financial records. Benefit payments are made to the business to help minimize financial loss should your business lose the insured (key personnel) due to death.

Business Overhead Disability prevents businesses from going under from regular overhead expenses while the business owner is unable to work and run the business due to disability.  These types of policies will typically pay for things like employee salaries, rent and utilities, among other expenses.

Buy-Sell Agreements are intended to protect a business after the death of a key employee.  Buy-Sell Agreements (also known as Continuation Agreements) are tied to and funded by life insurance policies.  The agreement sets out the details of the transfer of business interest by the key-person (or his/her estate) upon a certain triggering event–usually death, disability and retirement.  The surviving or continuing business owner or partner can rest assured knowing that they will be able to purchase the key-person share without interference from other survivors of the key person and his/her estate.

Wellness Benefits

Most insurers include wellness benefits in their comprehensive coverage, designed to improve lives and keep members healthy, ultimately reducing healthcare costs all the way around. Your group health plan will generally include the following services designed to promote a healthy life style and identify and treat your most at risk employees.

Healthy Living:

• Promote healthy diet through nutritional coaching
• Promote physical fitness through free or discounted gym memberships, and exercise coaching
• Access to newsletters and online resources for healthy living
• Disease management
• Flu Shots

Health Screenings:

• Blood Pressure Screens
• Cardiac Screens
• Cancer Screens
• Vision Screens
• Hearing Screens

Other Wellness:

• Smoking Cessation
• Substance Abuse Programs
• Financial Wellness Seminars

For those employers serious about taking wellness to a higher level, as they are keenly aware that healthy employees are less likely to have serious health issues that drive up claims and premiums, we work with vendors that will help you get employees in control of their own well-being. These programs provide your employees with tools and services designed to encourage employees to use preventive care to create healthy living habits and to identify and address early potential medical issues.

Gap Plans

Gap insurance provides your employees with benefits that supplement their low premium, high deductible major medical health plan. It works by paying a significant amount of the deductible.  More specifically, the additional benefits help to cover out-of-pocket expenses related to coinsurance, co-pays and deductibles for inpatient and outpatient services. For example, if you have a $5,000 deductible on your major medical plan, gap coverage could pay up to $4,000 of that deductible.  You may find you save more money with a low premium high deductible health plan, along with the additional premium for gap insurance, when compared to one low deductible, high premium plan.

Cost Saving Employee Benefit Strategies

The following innovative benefit arrangements allow for employers and employees to pay for premiums, healthcare services, and other qualifying expenses, with pre-taxed dollars, saving both the employer and the employee money.

Health Savings Account (HSA)
Many group health plans benefit by having a Health Savings Account (HSA) feature that combines a high deductible/lower premium health insurance plan (PPO) with a savings account. Both employer and employee can contribute, tax-free to the savings account, which can help fund the deductible and other qualified medical expenses. Then, the insurance will begin paying claims, once the deductible is satisfied.

Health Reimbursement Account (HRA)
A Health Reimbursement Account (HRA) combines high deductible/low premium health insurance with a tax favored savings account. Employers contribute to the savings account, which can be used for to fund co-pays and other qualified expenses prior to the deductible being met.

Flexible Spending Account (FSA)
A Flexible Spending Account (FSA) is a cafeteria plan under Section 125 of the tax code and allows for benefits to be paid with pre-tax dollars which results in tax savings to both the employee and the employer.

The average working employee in America spends thousands of dollars annually on certain types of medical benefits, daycare expenses and transportation services. By participating in an FSA, an employee’s taxable income is reduced, which increases the percentage of pay they take home and allows them to pay for these benefits and services with the pre-taxed dollars, in essence giving them a discount on these services.

Here’s how they work
This tax-favored savings account is funded solely by the employee through regular pre-tax payroll deductions. Employees elect how much they want withdrawn from each pay period, which can be changed annually or upon a qualifying event such as marriage or divorce. Throughout the plan year, funds can be withdrawn from the account (tax-free) to pay for eligible medical, dental, vision, prescription and dependent daycare expenses. Some FSAs include work-related parking and transit costs. The administrator of the FSA account can issue a debit card that is tied to the FSA making it easy to use the account when needed.

Defined Contribution Plan
The benefits of selecting a Defined Contribution Plan are many for both the employer and employee.  An employee is more involved in their own healthcare choices and can choose a plan that is tailored around his/her needs, which reduces risk on employers.  Also, both employer and employee save a significant amount of money on premiums and taxes, while retaining health benefits that are just as good, if not better than a traditional group plan.

A new kind of self funding for small employers

Partially-Funded Plans (aka Level-Funded) are a variation of a Self-Funding and allows small employers to take advantage of all the cost saving and benefit design features of a fully self-insured plan, however, they share the risk with one of our top national carriers. The premiums for shared funding plans are generally much lower than fully insured plans. An employer may save even more by implementing wellness programs into the benefit strategy.

What is the difference between a Fully-Funded Health Plan and a Self-Funded Health Plan?

A fully-funded health plan is one where the insurance carrier assumes all the risk in exchange for a monthly premium.  They will pay all claims on the plan, and service the plan’s administration.  A self-funded plan requires the employer to assume all the risk, paying all claims on the plan, and will often partner with a PPO to provide healthcare services for the plan.  They will also hire a third-party vendor TPA to service the plan’s administration.  In other words, the employer becomes the insurer.

The main advantage of a fully-funded plan is the employer knows exactly what the plan is going to cost them.  With a self-funded plan, employers benefit from a significant savings in the overall cost of their benefit programs.  Additionally, employers have more control over the benefits that the plan offers.

The downside of a fully-funded health plan is when benefits go unused, the employer does not get any money back.  The downside of a self-funded health plan is the employer runs the risk of a large catastrophic claim and must purchase stop-loss insurance to protect themselves in such an event. Even with the additional expense of stop-loss insurance, employers save a significant amount of money on premiums and other advantages.

GBP specializes in helping employers set up and maintain self-funded health plans and would be happy to give you a no cost analysis to determine if a self-funded health plan option is right for your company.

Telehealth

This Health and Wellness Option is very affordable and gives you, your family and/or employees access to a modern, easy-to-use telemedicine solution for non-emergency illnesses and general care. Members and their families have direct access to fully credentialed doctors, via phone or video consultations, to receive treatment (including prescriptions) and advice for common ailments, including colds, the flu, rashes and more.

Hospital Plans

Unlike a traditional major medical plan that reimburses you or pays directly to a provider for approved hospital stays and medical care, a Hospital Indemnity Plan is a limited benefit plans that pays a lump-sum payment directly to the insured.

When paid directly to the insured, cash payments help you, your family or your employees with out-of-pocket expenses and covers you when you are off work due to a hospital stay. There are no plan maximums, however the coverage is usually a set amount per day, per week, per month, or per visit depending on the benefit level selected.

Accident Plans

Accidents can happen anytime and bring unexpected costs not fully covered by medical insurance.  Accident Insurance is very affordable and complements your major medical policy, in the case of an accidental injury.

Accident insurance helps to protect you, your family, or your employees, from suffering through financial hardship due to a great deal of medical and out-of-pocket expenses that follow accidental injuries. Emergency treatment, hospital stays, medical exams, transportation and lodging needs are just a few of the expenses that accident insurance can help cover. Some policies can even pay benefits in as little as one day, based on time of claim submission.

Critical Illness Plans

Surviving cancer, or a heart attack or stroke, or managing other sudden critical illnesses is becoming increasingly common with the advances in modern medical technology.  Critical Illness Insurance can help you, your family or your employees reduce the personal financial impact of the cost of fighting these illnesses and keeping up with everyday bills through that process.  If you have a health insurance plan and/or disability insurance, Critical Illness Insurance will provide benefits in addition to your other coverage.

Some key features:

• Lump-sum cash benefit paid directly to you.
• You decide how best to spend your payment.
• No network restrictions.
• Benefit level choices to fit your needs and budget.
• Simple plan options for your needs and budget.

The benefits and riders offered are supplemental and are not intended to cover all medical expenses.  Certain terms, exclusions and limitations may apply.

Buy-Up or Purchase Additional Coverage

In addition to offering Life, Disability, Dental, Vision & LTC as part of the basic benefit offering, some employees may wish to “buy-up” their employer provided coverage, and/or they may also want to purchase an additional separate policy, either for themselves as secondary or wrap-around coverage, or their dependents.

Group Dental & Vision

Employees consider Dental (and Vision) Insurance part of the core essential benefit package.  Studies have shown that regular dental and vision exams help employees to stay healthier and more productive in the work place. Additionally, you can detect serious underlying conditions such as heart disease, diabetes, high blood pressure and other conditions through regular dental and vision exams. In fact, the National Association of Dental Plans and the Centers for Disease Control have performed studies that show that employees with dental and vision insurance have better attitudes and are less likely to suffer from depression, a common condition in today’s fast-paced world.

We offer Preferred Provider Organization (PPO) designs, Pre-paid and Health Maintenance Organization (HMO) designs as well, with a wide range of deductibles, coinsurance, and maximums options.  These plans offer offer a variety of diagnostic, preventative care and corrective services.  We work with multiple national carriers with the largest dental and vision provider networks in the country for your employees’ benefit.

• Dental coverage includes (but not limited to) cleanings, exams, x-rays, fillings, root canals, orthodontia for children, and emergency care while traveling.
• Vision coverage includes (but not limited to) exams, eyeglass frames and lenses, contacts, and even discounts on procedures like LASIK.

Group Disability Plans

When an employee is unable to work due to illness or an accident, the financial impact can be devastating for them.  When this happens, Disability Insurance replaces a portion of your employee’s income, while they are unable to work.  While worst case scenario might seem remote, employees are often surprised to learn statistics show chances of becoming disabled are greater than dying between the ages of 25 & 45.  In fact, more than one in four 20-year-olds will experience a disability for longer than 90 days before the age of 67.

With these statistics, it is no wonder that national surveys continue to show that Disability Insurance remains of high importance for most employees as an affordable strategy to widen their financial safety net. Those who wish to purchase a wrap-around policy to augment their employer provided coverage may do so.  Bottom line, savvy employers attract and retain top talent by offering Short Term and Long Term Disability as part of the employer paid benefit package or as a voluntary (worksite) benefit.

Short Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), STD generally allows for income payments to the employee to begin after about a two-week waiting period and will continue to pay the employee until he/she recovers or maxes out the benefits–usually anywhere between one month to two years, depending on the policy.

Long Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), LTD generally allows for income payments to the employee to begin after about a 90-day waiting period. However, it could be much longer depending on the policy. The policy will pay the employee far longer than STD–for a few years, up to age 65, or even for life.

Group Life Insurance

Along with Health Insurance, Life Insurance is considered to be a key part of the benefit package for employees. Besides being a valuable tool in attracting top talent, employees are happier and more productive feeling secure that their loved ones will be taken care of in the event of illness or an untimely death.

Whether employer paid or voluntary, a good life insurance policy provides for an employee’s final expenses, taxes, mortgage and even their children’s education as well as offering additional added benefits.  GBP can help employers protect their employees and their employees’ families with a variety of different life insurance products.   Please read below for some brief information on the various types of life insurance available and then call us today for more information on our life insurance products.

Permanent Life Insurance
Life insurance that ties premiums to various types of investment accounts (stocks, bonds, money market, etc.) in which the savings can be tax deferred and/or borrowed against, if needed. These policies are known as whole life, universal life and variable life insurance.

Term Policy
Life insurance that does not build cash value, however, it will pay a set amount to the named beneficiary upon the death of insured within the stated term.  Some policies may also make payments upon terminal or critical illness.

Types of Group Health Plans

Health Maintenance Organization (HMO)
A Health Maintenance Organization (HMO) is a group health plan that requires group members to obtain their health care services from doctors and hospitals affiliated with the HMO. Members will designate a primary care physician who treats and directs health care decisions for the member. Additionally, the primary care physician will coordinate any referrals to specialties within the HMO network. HMOs offer access to a comprehensive package of covered health care services in return for a prepaid monthly amount (or “premium”). Most HMOs charge a small co-payment depending upon the type of service provided.

Preferred Provider Organization (PPO)
A Preferred Provider Organization (PPO) does not require group members to designate a particular provider, however, if they use providers within their network, they will save the most money on their healthcare services. If providers outside of the network are used, it is possible that those services may not be covered at all, so it is a good idea to check first with your PPO.  Keep in mind that deductibles must be met on this plan before some services will be covered.  PPOs generally require a co-pay for physician visits.

Point-of-Service (POS)
A Point-of-Service plan (POS) is a group health plans that is a managed care plan with a twist, in that it combines some elements of both an HMO and a PPO plan. Like an HMO, participants designate a primary caregiver within the network. However, with a POS plan, participants may also use providers outside of network for health care services, but will pay a majority of the cost, unless the primary care provider has referred the out-of-network provider. In such a case, the POS plan will pay for the services.

Long Term Care

Long-Term Care plans are a popular voluntary benefit offered by employers today. The prospect of long-term care is one of the most important issues your employees may have to face. The cost of long-term care is expensive and generally not covered by other benefits. If someone requires long-term care, it is not just an emotional strain but a financial one as well, impacting retirement savings and overall financial position.

Long-Term Care Insurance generally covers care that includes:  home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer’s facilities. It covers the cost of a visiting or live-in caregiver, therapist or private duty nurse up to seven days a week, 24 hours a day (up to the policy benefit maximum).

Wise employers know that access to additional resources can increase employee productivity when confronted with managing long-term care situations. Long-Term Care plans demonstrate to your current and prospective employees that your company cares about them — increasing the ability to attract and retain the very best talent.

Protect your employees by offering an enhanced benefit package through providing a employer paid or voluntary Group Long-Term Care plan that offers important coverage not found in health, disability, Medicare or Medicaid insurance.