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Group | Employer Benefits
Employers use Avery Hall's group benefit plans to design effective and affordable compensation plans to help increase employee loyalty and reduce costs associated with employee turnover. We offer a variety of health, dental, and vision plans as well as insurance for short- and long-term disability, life insurance, voluntary benefits, flexible spending accounts, COBRA administration, and even payroll services. We have more than 30 years of experience planning comprehensive benefits packages, and we would be happy to provide an in-depth review of your benefits package.
Medical Benefits
Group Health Insurance - Delmarva's group health insurance markets face
rising heath premiums every year, and a limited number of carriers. Avery Hall will help your business by getting the most for your group health insurance budget, we offer comprehensive coverage reviews and provide superior customer service after the sale by answering your employees’ coverage questions. To learn more about our group health insurance solutions:
Contact Your Local Office | Fill Out Contact Form For an Agent to Contact You
Print a Group Benefit Census to Fax to an Avery Hall Group Benefit Specialist
Download a Group Benefit Census to e-mail to an Avery Hall Group Benefit Specialist
Additional Group Benefits
Life Insurance - This type of life insurance is a single contract which covers all of your employees. Group life insurance is often provided as part of a complete employee benefit package. In most cases, the cost of group coverage is far less than what the employees or members would pay for a similar amount of individual protection. The employer keeps the actual insurance policy, known as the master contract. All of those who are covered typically receive a certificate of insurance that serves as proof of insurance but is not actually the insurance policy. As with other types of life insurance, group life insurance allows you to choose your beneficiary. Term insurance is the most common form of group life insurance. Group term life is typically provided in the form of yearly renewable term insurance. Group term coverage remains in force until your employment is terminated or until the specific term of coverage ends. Employees may have the option of converting group coverage to an individual policy if they leave employment.
Dental Insurance - We offer both employer-paid and employee-paid group dental policies. Dental problems can have an adverse impact on your business and your employees’ overall health, by increasing absenteeism and lowering worker productivity. Most employees will realize substantial out of pocket savings and improved dental care by taking advantage of a group dental plan. Our flexible plans help to contain dental care costs and improve the quality of life of your employees and their families.
Vision Insurance - The use of computers causes eye strain for many workers. Group vision insurance is an extremely affordable benefit that will help you recruit and retain an efficient workplace.
Short Term Disability Insurance - There are many forms of injury or illness that can keep you out of work for a few weeks or longer. A Short Term Disability policy can help replace a portion of your income while you are unable to work.
Long Term Disability Insurance - If you are like most people, your income is linked to your ability to get out of bed and work each day. How would your standard of living be affected if you became ill due to injury or illness? Long Term Disability Insurance offers protection from events like this that can keep you out of work for extended periods of time.
Health Reimbursement Arrangements - The Health Reimbursement Arrangement (or HRA) is an allocation by the employer for each eligible employee. HRA funds are not deposited to a separate trust account in advance, but payments are made when claims are processed. Employees use the money
allotted them to pay for eligible health care services, including doctor visits and prescription drugs. If the employee leaves the company, the money stays with the employer. With an HRA, the employer can set limits on how an employee's funds are used. They can be as unconditional as allowing access to all services outlined by the IRS (Section 213(d) of tax code) or as restrictive as limiting use of these funds to those services outlined in the group health coverage.
HRA funds are COBRA eligible.
Health Savings Account - Unlike the HRA, which is funded exclusively by the employer, the Health Savings Account (or HSA) can be funded by the employer, the employee or both. Employer contributions can be made in a lump sum at the beginning of the plan year, or made throughout the plan year. Employee contributions are made through a pre-tax payroll deduction. HSA funds are deposited with a third-party trustee. Only funds actually in the account can be accessed for reimbursement. In addition to covering out-of-pocket medical costs, an HSA allows employees to put aside pre-tax income, thus reducing their tax liability while also earning interest on their savings. And, unlike a Flexible Spending Account, any money not used remains in the portable account, and can be used for future health expenses. HSA balances belong to the employee when they retire or change jobs.
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Third Party Administrator (TPA) - Avery Hall and our clients have partnered with Kelly and Associates Insurance Group to help us better serve our clients with enrollments, terminations, and managing other functions that are related to the operation of employer and employee’s benefits |
Premium Only Plans - Section 125 Premium Only Plans often referred to as POP Plans reduce income tax liabilities for the employer and the employee. This is because IRS Section 125 allows employees to pay their portion of medical insurance using pretax dollars. Since this deduction reduces an employee’s taxable income, it also reduces employer payroll tax liabilities.
Self Insured Plans - A Self-Funded, or Self-Insured plan, is one in which the employer assumes the financial risk for providing health care benefits to its employees. In practical terms, Self-Insured employers pay for claims out-of-pocket as they are presented instead of paying a pre-determined premium to an insurance carrier for a Fully Insured plan. Self-Funding is one of the most effective ways employers can control the rising costs of health care coverage. The employer has significant say into the design of its medical benefits plan. Plan types may either mirror Fully Insured benefit models, or can be adapted to meet the specific needs of your member population, and budget, through a customized suite of benefit and product options. Rather than obtaining medical coverage from an insurance carrier, the employer funds the risk directly from the employer's assets. The employer becomes directly responsible for benefits covered under the plan and is subject only to federal regulation (e.g. ERISA). Your Self-Funded benefits administrator should make suggestions on best-practice funding and reconciliation procedures. Stop Loss insurance may be arranged to limit the employer's loss to a specified amount, to ensure that catastrophic claims do not upset the financial integrity of the Self-Funded plan. The amount of risk to be reinsured is a function of the employer's size, nature of its business, financials, and tolerance for risk. A Summary Plan Description (SPD) is prepared (usually by the TPA) and distributed to covered employees. The SPD contains all the provisions of the plan, including eligibility, coverage descriptions, and plan exclusions and limitations. The TPA typically prepares the plan booklets, ID cards, provider directories, and other employee materials. The TPA administers the plan. Its responsibilities include maintaining eligibility, adjudicating and paying claims, customer service, utilization management, preparing claim reports, plus arranging for services such as provider network access and implementation of a Pharmacy Benefit Management program.
Long-Term Care Insurance - Did you know over 40% of people receiving long term care services are under the age of 65? This is one of the reasons why long term care insurance has become a frequently requested employee benefit. Group long term care insurance can help retain and attract valuable employees, improve productivity and minimize absenteeism for employees as caregivers and receive potential tax advantages. Group Long Term Care insurance provides employees with a secure way to help protect their savings and assets protect their family and friends from the burden of care giving and protect their ability to choose where care is received.
Payroll - A division of Kelly & Associates Financial Services (KAFS), KTBSPayroll combines innovative technology with seamless administrative solutions, creating a payroll management system that is fully integrated, accurate and easy. With a single point of entry through our KTBSOnline technology, KTBSPayroll’s service features are unmatched in the marketplace. KTBSPayroll is on the leading edge of payroll management, combining innovative technology with seamless administrative solutions. We understand today’s payroll needs and have anticipated tomorrow’s to bring you a fast, accurate and efficient tool that allows you to spend more time on your work and less time managing your payroll and benefit services. |
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Contact Your Local Office | Fill Out Contact Form For an Agent to Contact You
Print a Group Benefit Census to Fax to an Avery Hall Group Benefit Specialist
Download a Group Benefit Census to e-mail to an Avery Hall Group Benefit Specialist
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