Better well-being begins with better options. We offer group medical plans from every major medical carrier in MD, DC and Virginia. With the confusing and changing atmosphere is health insurance we have come up with solutions for many companies experiencing high increases this year. One of these solutions is self-funding. options. Once a solutions reserved for only large group, now many companies are making options available to medium sized and even small groups. We will find a medical plan designed to meet you and your employee's needs.
We are appointed with all major dental and vision carriers servicing MD, DC and Virginia. Ancillary products tie the whole package together. Contact us for a quote!
Offer your employees a plan to help protect one of their most valuable assets-their income. If an employee is unable to work due to a sickness or injury, disability insurance can help cover essential living expenses. Disability insurance can help protect ones financial security until an employee can return to work. Life insurance can provide years of income to loved ones in an affordable way. Group life insurance is generally an inexpensive benefit to offer employees and gives people a sense of security knowing their families are protected.
We work with several third parties to offer HRA/HSA AND FSAs. Once we determine your goals and contribution levels we can set up a plan which meets your organization's needs.
Health savings accounts are similar to a 401(k) retirement account for medical expenses. You can only have an HSA if you enroll in an HSA-compatible insurance plan. The employee owns the account and anyone can put money into the account. Money taken out of an employees paycheck and deposited into the account isn't taxed. Money put into the account that's already been taxed (for example, money that was a gift), is tax deductible.
Money in the account can roll over from year to year and an employee can invest the money.
A health reimbursement arrangement is a benefit set up by the employer. It's a fund that pays for medical expenses not covered by the health plan, such as deductibles, coinsurances or both. The fund is owned by the employer. As the employer, you decide which expenses are covered by the HRA.
Money contributed by the employer to the HRA is tax deductible for your employees. The employee does not have to pay taxes on money from an HRA used for pay for qualified medical expenses. The employer makes the decision whether leftover money in the HRA can roll over to the next year.
The money in an HRA can't be invested.
A flexible spending account is set up by the employer. The employer owns the account and decides what qualified medical expenses to pay from the FSA. What makes it flexible? It works with most employer-sponsored health plans. The employee and employer can put money into the account. You can only deposit money into a FSA through payroll deduction. That money isn't taxed. Some employers allow employees to carry up to $500 into the next year. Otherwise, any money left in the account at the end of the year goes back to the employer. The money in this account can't be invested.
We are partners with Infiniti HR. Infiniti HR provides human resources outsourcing services throughout the United States. We provide customized, scalable solutions for payroll, human resources, risk management, employee benefits, recruitment process outsourcing and franchise solutions. Whether you are interested in a professional employer organization (PEO) model, ASO, consulting or a project based solution, we can service your needs.