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Group Benefits

Are you looking for a way to help your employees, attract new or retain current employees? Group benefits are a perfect fit. This is what The Benefits Pool specializes in- helping you to build an affordable and attractive benefits plan. Benefits packages are like a pool and it is our job to find out whare you are comfortable. Employers can start in the shallow end by offering benefits that are fully funded by the employee. Move to the middle of the pool and offer plans the employer can partially fund. When it becomes comfortable, jump in the deep end and offer a full size package. A typical benefits package contains 3 parts- a health piece, supplemental plans and disability. This way all parts of an injury or illness has a lifeguard.

Group Health:  These plans are typically less costly than individual health plans and usually the employer participates in the cost of these plans. They come in two types Traditional and Self or Level Funded.

Traditional Plans: These plans have no health questions- everyone will be accepted.  The premium is determined by the age of the participants.  

Self or Level Funded:  These plans can be less costly than traditional. There are health underwriting questions, and the rates are determined by the people in the group. Plans are divided into a claims pool, administrative cost, and a stop loss policy. Money can be refunded at the end of the year if there is money in the claims pool. 

Supplemental Plans or Voluntary plans: These plans pay cash back to the policy holder. The money can be used to cover out of pocket costs, deductibles and co-pays. They come in Accident, Cancer, Hospital, Critical Illness, Vision, Dental and Life.

Disability Plans: These plans cover your most important asset- your paycheck. You can receive a check for an off the job injury or illness when you miss work and can’t get a check form work. 

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