October 17, 2017

Great Benefits Management is Good for your Business!

August 2017

Karen rial - pia photo

Managing benefits has grown complex and there is little reason to believe it is going to change anytime soon!!  There are options available to the small business owner that may or may not include medical benefits. 

The first priority is to obtain a good partner to help assess what will work best for your business and help meet your employee’s needs.  One resource to find a good partner for your business is to look at your community partners like the Battle Creek Area Chamber of Commerce and bona fide trade organizations like the National Association of Health Underwriters and the National Association of Finance and Insurance Advisors.  As a member of the Battle Creek Area Chamber and the National Association of Health Underwriters I have resources available to facilitate benefits management for your business.

Flexible Spending Accounts are an option which allow your employees to set aside money before taxes to pay for health related out of pocket costs that are not covered by a health plan.  This can include a separate Transportation Fringe Benefit Plan as well.

Health Reimbursement Arrangements (HRAs), also known as a Section 105(h) plans, are designed to help companies better manage their health care costs. They allow the employer to set the company’s healthcare plan contribution rather than committing to a specific benefit with an open-ended cost.  The plans must be employer funded.  They cannot be offered in a cafeteria plan.  I or another qualified agent can assist you with the details of such a plan and how it is set up.

Health Savings Accounts are available for contribution only with a Qualified High Deductible health plan.  These may be a way to lower premiums of your employer health plan offering.  There are free services available with some banks to make the process of reimbursement seamless with your health plan.

Offering disability and life insurance benefits can help stabilize your workforce and may be an option to facilitate your benefit package.

These are just a few of the options available to you as an employer.  I am available to assist you with your employee benefit needs.  There is no obligation to discuss what will fit your employer needs.

Being a good partner is what Partners Insurance Agency of Southwest Michigan, Inc. is about.  Partners Insurance Agency of Southwest Michigan has built a strong customer service base for small businesses and individuals in the Southwest Michigan area.  Assistance is available for health plan consultation, navigation through the Marketplace and enrollment requirements for small groups, Medicare and individual health plans.  Feel free to contact me, Karen Rial, Agent Sales Manager, at 269-425-7136.

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Partners Insurance Agency of Southwest Michigan was established in August of 2003 and is located at 77 East Michigan Avenue, Suite 200, Battle Creek, Michigan.  It is wholly owned by Integrated Health Partners.