Because Preferred Benefits Group has a very extensive selection of companies from which to choose coverage, we are able to select the employee benefits packages that will work best for you. Here's a brief description of the quality employee benefit services we offer. Please use the quote link to immediately send for more information or a customized quote for that program.
Group Medical
|| Group Long Term Disability
|| Group Dental
|| Group Life
Pension Programs (401(K) plans)
|| Section 125 Cafeteria Plans (Premium Pre-Tax Only Plans)
Group Vision Care Programs
|| Self-Funded Programs
|| Employee Benefit Statements
Click here for Important COBRA Notice Requirements
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Group Medical
Group Care is medical insurance that is usually obtained through your employer or
the employer of a family member. It is called "group" because as a member you are
part of a large pool of other members in the same plan. These plans are usually
classified as indemnity or managed care.
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Group Long Term Disability
Disability insurance provides you with income in the event that you become injured or
sick and are unable to work. The word "group" denotes that as a member, you are
one of many members in the same plan.
Disability insurance comes in two forms:
- Employer-paid (or Group)
- Privately paid
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Group Dental
Group dental insurance is a plan that provides you with insurance coverage for the
maintenance of your teeth. As a member, you are one of many in a group. Basically,
all dental insurance plans offer four types of service:
- Preventive maintenance
- Basic dentistry
- Major dentistry
- Orthodontics
There are many variables regarding breadth of coverage, deductibles, and per-person
annual benefit caps. We can tailor a plan that best suits your needs.
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Group Life
Group Life insurance provides your loved ones with funds needed to ease their
financial burden in the event of your death. A group plan is usually provided through
your employer. There are two basic forms of life insurance, permanent and term. The
main differences between the two are the types of premiums paid and settlements
received.
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Pension Programs (401K Plans)
A 401(k ) plan can help you plan for retirement. The plan is named for section 401(k)
of the Internal Revenue Code that allows employees of qualifying companies to set
aside tax-deferred funds. The plan is arranged through your employer as a defined
contribution retirement arrangement. So, as a member, you pay into the plan. Each
paycheck your 401(k )contribution is automatically deducted before you pay taxes.
When you become a member of a 401(k )plan, you decide how you want your money
invested. Although the money in the account belongs to you, it is not intended for your
use until you reach age 59 1/2. Up until that time, you do not pay taxes on your 401(k)
funds. At the time of withdrawal you will pay taxes on the amount you have in your
account.
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Section 125 Cafeteria Plans (Premium Pre-Tax Only Plans)
Section 125 is an insurance plan offered through your employer that enables you to
voluntarily purchase from a menu of benefit choices using pre-tax dollars with which
to purchase. As a member of this program you decide your salary deduction and you
will receive a summary plan from your employer and Form 5500 to file with the IRS
each year.
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Group Vision Care Programs
Group Vision Care programs extend coverage to the insured for costs incurred for eye
exams, lenses and frames. This plan is extended by your employer.
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Self-funded Programs
A self-funded program, otherwise known as a partially self-funded program, is a
medical benefits plan in which a member is one of a large pool of members. For
companies with better-than-average claims histories, a self-funded program can
provide a way to significantly lower premiums.
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Employee Benefit Statements
Employers spend a significant portion of earnings on employee benefits. An
Employee Benefit Statement is a document that serves as a tool to enable an
employer to communicate clearly to his or her employees the benefits that they
receive. An Employee Benefits Statement is provided with the intent that the
information will help the employee to utilize the benefits as fully and judiciously as
possible.
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