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Employee Benefits​

Group Benefits

Are the base benefits of any Employer’s benefit package.
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Voluntary Benefits

To compete with other Employers in the industry you must offer a comprehensive benefit package.
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Life and Executive Benefits

Experienced executives at successful companies are hot commodities, especially to competitors looking to replicate your success by hiring them away
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WHAT PEOPLE ARE SAYING ABOUT

PREMIER BENEFIT
MANAGEMENT

“I once described her as a Pit Bull, when it came to negotiating my renewal. She is persistent, yet extremely knowledgeable and understands all the points of leverage to negotiate for the best pricing.”
– Terri Thompson, President; Electrical Firm
– Terri Thompson,
“Two weeks after my daughter was found unconscious and rushed to a hospital in California, I got a call from the hospital saying that they were not only out of network but the treatment she was receiving in their rehabilitation facility was a policy exclusion. They advised me that my daughter was too fragile to be released I need to make private payment arrangements for her to stay. That was when my CFO told me to call Dawn. I had never met Dawn, however, she went above and beyond to try to get her treatment approved. After multiple failed attempts met with the Medical Director of the Insurance company and they made a policy exception. She let us know they had approved my daughter to remain in this facility until she had made a full recovery. I didn’t know what to say as I began to thank her. I couldn’t hold back the tears and the gratitude I felt. It was not only a monumental achievement; it was monumental to my daughter’s life. You do not find someone that offers that level of service or compassion in the world today.”
– Jeff Powell,Senior Sales Executive; Roofing Manufacturing Industry
– Jeff Powell,
“I have worked with Dawn for over 15 years, she has worked diligently to get the best possible rates for all of our benefits. She is professional, innovative and a pleasure to work with. Dawn has historically negotiated significant savings annually, therefore I have the highest level of confidence when I present to our Board of Directors for our annual budget. As a director of Human Resource for 30 years, the regulatory requirements and legislative changes have made my role increasing difficult. Therefore, I have become increasingly dependent on Dawn’s wealth of knowledge and problem solving ability to support my role. It’s a coin phrase in corporate office “Call Dawn” when anything out of the ordinary comes up.”
– Leighann,Director of Human Resources; Home Health Industry
– Leighann,
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Premier Benefit Consulting is an insurance brokerage and consulting firm committed to providing personalized service. It is critical that your brokerage partner have the experience and resources to provide comprehensive solutions. PBC is your single-source partner.

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Group Benefits

Are the base benefits of any Employer’s benefit package. The Employer contribution to the premium lowers the pricing and allows employees to payroll deduct their portion through the company Section 125 Cafeteria plan, on a pre-tax basis for most products, excluding the disability and life coverages.

Employer-sponsored health insurance coverage for employees and often their dependents. Employers and employees can share costs, and there are tax incentives to businesses that provide group health coverage.

Plans can be fully funded by a health insurance carrier, which are state-regulated or self-funded by the Employer, which are federally regulated.

Employers in a self funded arrangement, have more responsibility and therefore need more experienced, knowledgeable consultants to help maintain compliance and fulfill their plans fiduciary responsibilities. Larger Employers should look at all funding level arrangements available.

Group health plan Carriers offer a variety of hybrid options from the fully/self-funded arrangements like minimum or level funding for groups interested in capturing some of the underwriting gain, yet are too small to be truly self-funded. Carriers offer a number of group plans with varying options for deductibles, co-pays, annual limits, eligibility and provider networks.

Whether you offer traditional benefit plans high deductible benefit plans, or limited medical plans, understanding the alternative funding options available and updated regulations helps Employers and Employees benefit from the tax savings through incorporating plans through Health Reimbursement Accounts, Medical reimbursement accounts or Health Savings Accounts.

Captives group health plan: Captives are a new approach to containing costs designed for forward thinking Employers. As insurance costs remain unpredictable, a growing number of organizations, groups and associations are looking to have more control over their expenditures. Innovative employers seek to establish a health plan that maximizes long-term cost through control, scale and transparency and our captive solutions help you do just that.

Whether you offer traditional benefit plans, high deductible benefit plans or limited medical plans, understanding the alternative funding options available and updated regulations helps Employers and Employees benefit from the tax savings through incorporating plans through Health Reimbursement Accounts, Medical reimbursement accounts and/or Health Savings Accounts.

Employer-sponsored insurance that pays a portion of the costs associated with dental care, such as preventative cleanings, orthodontia and restorative services. Insurance carriers offer plans with varying options for deductibles, co-pays, annual limits and provider networks.

Covers a portion of the costs associated with vision care. Network discount plans, DHMOs, traditional indemnity plans and Direct Reimbursement plans are available for vision coverage. Vision PPO plans provide in-network and out-of-network benefits for covered employees and their families.

Insured adults are more likely to have only group life insurance obtained through the workplace. Adults with group coverage only carry the lowest amounts of life insurance.

Employer-sponsored insurance covering a portion of an employee’s earned income when that employee becomes unable to work due to a disabling illness or injury. Typically, short-term plans provide up to six months of financial support, and long-term plans provide support until the employee reaches social security or retirement age or is considered permanently disabled. For both plans, there is usually a waiting period before benefits start.

A tax-advantaged account allowing an employee to set aside a limited portion of earnings to pay for qualified medical and dependent care expenses. A FSA is commonly offered with a traditional group health insurance plan to pay for out-of-pocket expenses the plan does not cover. FSA money can be accessed with a debit card, or the employee is reimbursed after filing a claim. Unused money at the end of the plan year does not roll over.

Health Reimbursement Account (HRA)s are employer-funded group health plans from which employees are reimbursed tax-free for qualified medical expenses up to fixed dollar amount per year. Unused amounts may be rolled over to be used in subsequent years. The Employer funds and owns the account.

Your vehicle to savings, with rollover amount. This employee owned and funded pre-tax plan can be paired with limited-purpose or post-deductible FSAs or HRAs. Employees can then use these funds for qualified medical expenses. Those enrolled in a Qualified High Deductible Health Plan (QHDHP) and not covered by any other insurance for health expenses qualify for a HSA. The money in the plan can be used for common medical expenses since there is no annual rollover limit. Employees can quickly accumulate a significant balance in their HSA.

A Medical Expense Reimbursement Plan is a type of Health Reimbursement Account (HRA) and is governed by IRS Sec 105 (h). A MERP allows for employer funds to be used for reimbursement of employee qualified medical expenses including deductibles, coinsurance and co-payments on a tax-free basis.

Spousal Incentive Health Reimbursement Account is a plan option to help mitigate spousal risk on Employer Group Health Plans. As most employer sponsors of health insurance are aware, 50-60% of their total costs are generally driven by the dependents of the people they employ. Mitigating risks off your plan can help reduce overall costs and many plan sponsors have considered or have implemented SIHRA to transfer spousal risk. The Spousal MERP is set up as a separate plan with eligibility defined as follows:

  1. Spouses who have access to other coverage; and
  2. Are currently enrolled in the Employer’s plan at the time the MERP is offered. However, if a spouse had previously waived coverage prior to the establishment of the MERP, they are not eligible.

A spouse enrolled in the MERP receives a reimbursement card that can be used to pay for any and all deductibles, co-pays, out-of-pocket costs and any additional premiums associated with their Employer plan. They will receive first dollar coverage which is quite a strong incentive.

Limited Medical Benefit Plans are plans designed for Employers that want to provide first dollar coverage for employees to allow them to have a set number of doctors’ visits and prescriptions and help defray some of the out-of-pocket costs associated with major medical plans. They are guarantee issued plans that also help Employers avoid the penalty, per employee over 30 employees, for not offering Minimal Essential Coverage. It does not prevent Employers from the penalty for Minimal Value Plan, which is per person that receives a subsidy on the exchange. This plan provides the PPACA wellness at 100%, at no out of pocket costs to the employee. This is perfect for Employers in the food industry or other industries that have over 50 employees and did not offer health benefits prior to the Employer mandate.

Voluntary Benefits

To compete with other Employers in the industry you must offer a comprehensive benefit package. By providing them with a variety of voluntary benefit options to choose from, that meet the individual needs of their families is advantageous to you in addition to helping you remain competitive in your industry. They can also help reduce your direct insurance costs by supplementing your group health plans, lowering your FICA match, etc. Employees trust that the products you offer as part of your benefit package are the best voluntary plans available and that you have hand selected the carriers with the most competitive rates. Voluntary benefits are competitively priced on a group, providing pricing that they cannot get individually. They are also traditionally guaranteed issued, requiring no medical underwriting.

For all generations making up the workforce (Baby Boomers, Generations X and Y), the workplace is the second most common place to buy life insurance, citing convenience and confidence in the company based on perceived “employer approval”.

• Accident or illness will force one in five U.S. employees to miss work for at least a year before they turn 65.

• 350,000 personal bankruptcies every year are blamed on injuries or unexpected illnesses.

Provides cash benefits for qualified cancer treatments. Although health insurance will pay the medical expenses associated with fighting cancer, a cancer plan will help with the non-medical expenses, including loss of income, out of town treatment, special diets, routine living costs and household upkeep. In addition to the non-medical expenses, most health plans have deductibles and other cost-sharing arrangements.

Provides benefits for medical expenses due to a covered accident. Benefits are paid in addition to any health insurance coverage. Most plans cover hospital confinement, emergency room benefits, ambulance benefits and certain scheduled medical expenses.

• One in four full-time employees has less than $500 available to them in the event of a serious medical event. • Stroke is the leading cause of serious, long-term disability in the U.S., with 50 to 70 percent of stroke survivors regaining functional independence and 15 to 30 percent permanently disabled.
• The identities of more than 11 million people are compromised each year. • The inspector general estimates that more than 1.5 million fraudulent tax returns are filed each year by identity thieves. • The average victim loses more than $4,841 and spends 330 hours in recovery time.

Covers long term care services in a facility such as a nursing home, assisted living center, adult day care, hospice or at home. If a covered individual is unable to perform two of the six Activities of Daily Living, a daily benefit is paid after a waiting period has been met. Most plans offer two-year, three-year, four-year, five-year and lifetime benefit periods.

Pays for in-hospital benefits, out-patient benefits and physician benefits to offset the deductibles, co-pays and co-insurance of a group health plan. As such, the plan’s benefit schedule should be coordinated with the group health plan.

Life and Executive Benefits

Experienced executives at successful companies are hot commodities, especially to competitors looking to replicate your success by hiring them away. As the competition to attract these professionals intensifies, a compensation package that includes supplemental executive benefit plans will help you retain, motivate and recruit the talented people who are the driving force behind your business. A great executive benefits plan doesn’t have to be complicated. Together, we strike a balance between meeting the needs of your executives and the cost per benefit trade-off to your bottom line. The third-party administrators we work with offer tax, legal and accounting solutions to avoid penalties or unexpected taxation.

  • Deferred Compensation Plan
  • Supplemental Executive Retirement Plan​
  • Executive Benefit Plan​
  • Executive Disability/Long Term Care​
  • Corporate Owned Life Insurance​
  • Bank Owned Life Insurance​