Broker for Employer Benefits
Independent representative to all the insurance carriers in the group health market for New York and New Jersey. Products range from Health, Dental, Life and Disability Insurance. Focus on education and customer service.
HSA, HRA and FSA Funding Vehicles
Health Savings Accounts, Health Reimbursement Arrangements and Flexible Spending Accounts are all funding vehicles that should always be considered and, occasionally offered, as options in High Deductible Medical plans and with other Ancillary products. Employers/Employees consider these options to save money on a pre-tax basis and concurrently cover healthcare expenses.
Professional Employer Organizations offer an enhancement to the responsibilities that are normally taken on by human resources, office management and owners. This type of agreement can allow an employer to access large group benefits, administration and workers compensation advantages. For an organization interested in this approach, I provide choice in PEO proposals that best suit their needs.
Voluntary Benefits including GAP Coverage
These employee-paid benefits continue to be a valuable and profit driven discussion as deductibles rise on medical plans and as other employer benefits are being discontinued due to rising costs. What is known as GAP coverage allows an employer to transition to higher deductible plans and continue to cover the costs associated with major health events.
The DOL has, over the past few years, hired many auditors to reach small employers and enforce adherence with ERISA regulations. ERISA compliance can be very time consuming and can be costly to an employer should a claim be reported. Recently, there are proposed regulations toward small employers to file Form 5500 and Schedule J (Group Health Information), to confirm they are compliant with template Summary Plan Descriptions and other ERISA documents.
A major area of missed opportunity for employers is offering knowledge and expertise to Medicare-eligible employees. Providing competent information, affordable solutions, and appropriate access to Medicare products, employees are shown viable, and often more complete, alternatives for their care during this important and complicated time of transition. Employers benefit from premium savings on the company offered health insurance policy and the goodwill of knowing they are looking out for their valued employees.