Benefits that work for you
Surpassing payroll, employee benefits are the most powerful tool for attracting and building a productive, loyal workforce. Yet most clients lack the time, knowledge and the resources to focus on an effective benefit strategy. Enter Bavaro Gingerich. With more than 70 years of collective experience, we understand what makes employee benefits flip or flop.
There is no one-size-fits-all when it comes to employee benefits. Every employer/employee has unique needs. The most successful benefit programs are tailored to those needs to engage employee interests and increase benefit awareness and usage.
After a poll of your employees and a review all cost drivers (budget, claims data, demographics, etc.), we’ll analyze various funding methods and utilize several cost-saving strategies where appropriate (i.e., Wellness & Voluntary Benefits). Then, we’ll leverage the strength of our bargaining power to lower costs across the spectrum, ultimately designing a program that reflects both employer and employee needs.
Having good benefits is not enough to fully realize savings potential and other advantages. We ensure your employees understand, buy-in where appropriate, and importantly, use their benefits wisely to boost health, financial wellness, and employee satisfaction, ultimately leading to an increase in productivity and your bottom line. Our communication strategy includes on-site enrollment, and we're always available via phone to answer questions. Throughout the year, we continually disseminate information designed to increase plan participation.
The more we do— the less you have to. Beyond health insurance, we provide services that make your benefits run smooth and while staying compliant. For example, we’ll take care of enrolling new hires and terminating benefits when necessary. We handle employee notices for COBRA, FMLA, the ACA and other compliance. We assist with carrier billing or claims issues that may arise. We also provide employee advocacy services when needed, and more.
Benefits are constantly changing. The economy, regulations and changes within your organization may affect your benefit programs. That’s why we take a proactive approach in periodically reviewing and evaluating your benefits to identify barriers and make adjustments when necessary. Annually, we’ll do a thorough re-evaluation of employee needs, demographics, market trends and more, before considering final renewal strategies and carrier options.
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Offering
Medical, Life, Disability, Dental & More
What benefits should you offer? Our expert consultants will help determine which benefits to include in your benefit offering, based on your unique needs. Please click below to learn more about each of the benefits you may include in your package.
Traditional Group Health Plans
HMO & PPO Plans from top national carriers, designed for small, medium and large size groups.
A HEALTH MAINTENANCE ORGANIZATION (HMO)
An HMO group health plan requires employees to appoint a primary care physician who directs treatment utilizing service providers affiliated with the HMO. HMOs offer access to a comprehensive package of health care for a low monthly premium. A small co-payment is often required for services, depending upon the type provided.
PREFERRED PROVIDER ORGANIZATION (PPO)
PPO group health plans offer a vast network of quality healthcare providers and facilities. Employees save the most money on healthcare if they use providers within the network, as some services may be only partially covered or not even covered at all when outside providers are used. Also, many services may not be covered if deductibles are not first met, however, the plan includes important wellness and preventative services provided outside of the deductible with a small co-pay.
An HMO group health plan requires employees to appoint a primary care physician who directs treatment utilizing service providers affiliated with the HMO. HMOs offer access to a comprehensive package of health care for a low monthly premium. A small co-payment is often required for services, depending upon the type provided.
PREFERRED PROVIDER ORGANIZATION (PPO)
PPO group health plans offer a vast network of quality healthcare providers and facilities. Employees save the most money on healthcare if they use providers within the network, as some services may be only partially covered or not even covered at all when outside providers are used. Also, many services may not be covered if deductibles are not first met, however, the plan includes important wellness and preventative services provided outside of the deductible with a small co-pay.
Self-Funded Group Health Plans
Designed for small, medium & large groups, self-funded plans offer employers a significant savings in the cost of benefits.
SELF-FUNDED HEALTH PLANS
When employers self-fund their own group health plan, they will benefit from a significant savings in the overall cost of their benefit programs. For example, savings may be in premiums, increased cash flow and certain tax advantages. Additionally, employers have more control over the benefits that the plan offers. Typically, self-funding was not available to small employers in the past. However, today self-insured group health plans are considered to be good options for both small and large employers.
How it works. A self-funded group health plan requires the employer to become the insurer. Most often, employers will partner with a PPO to provide services for the plan. Then, a third party administrator (a TPA) is engaged to handle claims and processing. Self-insured employers run the risk of large catastrophic claims. As a result, they need to purchase stop-loss insurance to protect themselves in such an event. Even with the additional expense of stop-loss insurance, employers save a significant amount of money on premiums and other advantages.
PARTIALLY-FUNDED HEALTH PLANS
Partially-Funded Plans (aka Level-Funded) are a variation of a Self-Funding and allows small employers to take advantage of all the cost saving and benefit design features of a fully self-insured plan, however, they share the risk with one of our top national carriers. The premiums for shared funding plans are generally much lower than fully insured plans. An employer may save even more by implementing wellness programs into the benefit strategy.
How it works. An employer will select any of the fully insured plans that the carrier offers. Then rates will be determined by the group’s claim history. Next, stop-loss insurance is added to protect against catastrophic claims. Since the carrier will handle the administration of the plan, there is no need to hire a separate vendor to handle claims and processing.
When employers self-fund their own group health plan, they will benefit from a significant savings in the overall cost of their benefit programs. For example, savings may be in premiums, increased cash flow and certain tax advantages. Additionally, employers have more control over the benefits that the plan offers. Typically, self-funding was not available to small employers in the past. However, today self-insured group health plans are considered to be good options for both small and large employers.
How it works. A self-funded group health plan requires the employer to become the insurer. Most often, employers will partner with a PPO to provide services for the plan. Then, a third party administrator (a TPA) is engaged to handle claims and processing. Self-insured employers run the risk of large catastrophic claims. As a result, they need to purchase stop-loss insurance to protect themselves in such an event. Even with the additional expense of stop-loss insurance, employers save a significant amount of money on premiums and other advantages.
PARTIALLY-FUNDED HEALTH PLANS
Partially-Funded Plans (aka Level-Funded) are a variation of a Self-Funding and allows small employers to take advantage of all the cost saving and benefit design features of a fully self-insured plan, however, they share the risk with one of our top national carriers. The premiums for shared funding plans are generally much lower than fully insured plans. An employer may save even more by implementing wellness programs into the benefit strategy.
How it works. An employer will select any of the fully insured plans that the carrier offers. Then rates will be determined by the group’s claim history. Next, stop-loss insurance is added to protect against catastrophic claims. Since the carrier will handle the administration of the plan, there is no need to hire a separate vendor to handle claims and processing.
Cost Saving Strategies
Tax advantaged HSAs, HRAs, FSAs & POPs allow employees to pay for healthcare premiums and healthcare services with pre-taxed dollars.
HEALTH SAVINGS ACCOUNT (HSA) )
An HSA combines a high deductible, lower premium group health insurance plan (PPO) with an employee owned savings account. Both employer and employee can contribute, with pre-taxed dollars, to the savings account. The account is used directly by employee to help fund the deductible and other qualified medical expenses.
HEALTH REIMBURSEMENT ACCOUNT (HRA) )
An HRA combines a high deductible, low premium health insurance plan with an employer owned tax favored savings account. This plan requires that the employer contribute to the savings account. The account can be used to reimburse employee for co-pays and other qualified expenses submitted by the employee, prior to the deductible being met.
FLEXIBLE SPENDING ACCOUNT (FSA) A Flexible Spending Account is a tax-favored savings account funded solely by the employee through regular pre-tax payroll deductions. The funds can be withdrawn, tax-free, to pay for eligible medical, dental, vision, prescription and dependent daycare expenses. Employees elect how much they want withdrawn from each pay period. By participating in a FSA, an employee always has cash to pay for these expenses, and as an added benefit, their taxable income is reduced which also increases the percentage of pay they take home.
PREMIUM ONLY PLAN (POP) A Premium-Only Plan allows employees to select, purchase and pay monthly premiums for their own individual insurance plan with pre-tax dollars. Employees elect a set amount of wages to be deducted from each payroll to be used by the employer to reimburse the employee for the monthly premium.
An HSA combines a high deductible, lower premium group health insurance plan (PPO) with an employee owned savings account. Both employer and employee can contribute, with pre-taxed dollars, to the savings account. The account is used directly by employee to help fund the deductible and other qualified medical expenses.
HEALTH REIMBURSEMENT ACCOUNT (HRA) )
An HRA combines a high deductible, low premium health insurance plan with an employer owned tax favored savings account. This plan requires that the employer contribute to the savings account. The account can be used to reimburse employee for co-pays and other qualified expenses submitted by the employee, prior to the deductible being met.
FLEXIBLE SPENDING ACCOUNT (FSA) A Flexible Spending Account is a tax-favored savings account funded solely by the employee through regular pre-tax payroll deductions. The funds can be withdrawn, tax-free, to pay for eligible medical, dental, vision, prescription and dependent daycare expenses. Employees elect how much they want withdrawn from each pay period. By participating in a FSA, an employee always has cash to pay for these expenses, and as an added benefit, their taxable income is reduced which also increases the percentage of pay they take home.
PREMIUM ONLY PLAN (POP) A Premium-Only Plan allows employees to select, purchase and pay monthly premiums for their own individual insurance plan with pre-tax dollars. Employees elect a set amount of wages to be deducted from each payroll to be used by the employer to reimburse the employee for the monthly premium.
Group Life Insurance
Offered as a paid or voluntary benefit, an essential part of the group benefit offering.
GROUP LIFE INSURANCE
A good life insurance policy provides for an employee’s final expenses, taxes, mortgage and more. Additionally, it may even pay for their children’s education. Also, employees are more productive when they feel secure that their loved ones will be taken care of, in the event of illness or an untimely death. Smart employers consider life insurance a key part of the benefit package, and a valuable tool in attracting top talent.
Permanent Life Insurance
This type of life insurance builds cash value which is sometimes used as collateral for loans, if needed. However, most employers only offer basic term life insurance (see below), but also offer permanent life insurance on a voluntary basis. Even so, employees appreciate the opportunity to widen their safety net.
Term Life Insurance
This type of life insurance does not build cash value. However, it will pay a set amount to the named beneficiary upon the death of insured within the stated term. Additionally, some policies may also make payments upon terminal or critical illness.
A good life insurance policy provides for an employee’s final expenses, taxes, mortgage and more. Additionally, it may even pay for their children’s education. Also, employees are more productive when they feel secure that their loved ones will be taken care of, in the event of illness or an untimely death. Smart employers consider life insurance a key part of the benefit package, and a valuable tool in attracting top talent.
Permanent Life Insurance
This type of life insurance builds cash value which is sometimes used as collateral for loans, if needed. However, most employers only offer basic term life insurance (see below), but also offer permanent life insurance on a voluntary basis. Even so, employees appreciate the opportunity to widen their safety net.
Term Life Insurance
This type of life insurance does not build cash value. However, it will pay a set amount to the named beneficiary upon the death of insured within the stated term. Additionally, some policies may also make payments upon terminal or critical illness.
Group Dental Plans
Dental plans are a staple benefit proven to promote overall health, and offered as a paid or voluntary benefit.
GROUP DENTAL PLANS
Employees always appreciate dental coverage as part of the basic benefit package. Studies have shown that regular dental exams help employees to stay healthier and more productive in the work place. Additionally, you can detect serious underlying conditions such as heart disease and diabetes, through regular dental exams. In fact, the National Association of Dental Plans and the Centers for Disease Control have performed studies that show that employees with dental insurance have better attitudes and are less likely to suffer from depression, a common condition in today’s fast-paced world.
Dental insurance offers a variety of diagnostic, preventative care and corrective services. This includes cleanings, exams, x-rays, fillings, root canals, orthodontia for children, and emergency care while traveling.
Employees always appreciate dental coverage as part of the basic benefit package. Studies have shown that regular dental exams help employees to stay healthier and more productive in the work place. Additionally, you can detect serious underlying conditions such as heart disease and diabetes, through regular dental exams. In fact, the National Association of Dental Plans and the Centers for Disease Control have performed studies that show that employees with dental insurance have better attitudes and are less likely to suffer from depression, a common condition in today’s fast-paced world.
Dental insurance offers a variety of diagnostic, preventative care and corrective services. This includes cleanings, exams, x-rays, fillings, root canals, orthodontia for children, and emergency care while traveling.
Group Vision Plans
A highly-valued employee benefit offered as a paid benefit, or as a voluntary benefit.
VISION PLANS
Similar to dental policies, vision plans are inexpensive and save employees money on routine eye care. Examples of care include exams, eyeglass frames and lenses, contacts, and even discounts on procedures like LASIK. Additionally, monitoring your eye health with regular exams helps to prevent serious eye diseases like glaucoma and cataracts. In addition, regular eye exams help to detect early stages of diabetes, high blood pressure, and high cholesterol.
Similar to dental policies, vision plans are inexpensive and save employees money on routine eye care. Examples of care include exams, eyeglass frames and lenses, contacts, and even discounts on procedures like LASIK. Additionally, monitoring your eye health with regular exams helps to prevent serious eye diseases like glaucoma and cataracts. In addition, regular eye exams help to detect early stages of diabetes, high blood pressure, and high cholesterol.
Group Disability Insurance
Surveys show that disability insurance tops the list as one of most desired benefits by employees.
GROUP DISABILITY INSURANCE
National surveys have shown that Short Term Disability and Long Term Disability remain of high importance for most employees. Thus, savvy employers attract and retain top talent by offering both STD and LTD insurance as part of the employer paid benefit package or as a voluntary (worksite) benefit.
Short Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), STD generally allows for income payments to the employee to begin after about a two-week waiting period and will continue to pay the employee until he/she recovers or maxes out the benefits–usually anywhere between one month to two years, depending on the policy.
Long Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), LTD generally allows for income payments to the employee to begin after about a 90-day waiting period. However, it could be much longer depending on the policy. The policy will pay the employee far longer than STD–for a few years, up to age 65, or even for life.
National surveys have shown that Short Term Disability and Long Term Disability remain of high importance for most employees. Thus, savvy employers attract and retain top talent by offering both STD and LTD insurance as part of the employer paid benefit package or as a voluntary (worksite) benefit.
Short Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), STD generally allows for income payments to the employee to begin after about a two-week waiting period and will continue to pay the employee until he/she recovers or maxes out the benefits–usually anywhere between one month to two years, depending on the policy.
Long Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), LTD generally allows for income payments to the employee to begin after about a 90-day waiting period. However, it could be much longer depending on the policy. The policy will pay the employee far longer than STD–for a few years, up to age 65, or even for life.
Group Long Term Care
An increasingly popular benefit to help employees plan for long-term financial stability.
GROUP LONG TERM CARE
Group Long-Term Care plans are becoming an increasingly common voluntary benefit offered by employers today. The prospect of long-term care is one of the most important issues your employees may have to face. The cost of long-term care is expensive and generally not covered by other employee benefits, disability or even Medicare.
If someone requires long-term care, it is not just an emotional strain but a financial one as well, impacting retirement savings and overall financial position. Savvy employers know that access to additional resources can increase employee productivity when confronted with managing long-term care situations. Long-Term Care plans demonstrate to your current and prospective employees that your company cares about them–increasing the ability to attract and retain the very best talent.
Most LTC plans are designed to provide benefits for care through nursing homes, assisted living centers, home health care and adult day care.
Employers can provide a base benefit while giving the employees the opportunity to “buy up” and obtain the level of coverage that they need for their families.
Group Long-Term Care plans are becoming an increasingly common voluntary benefit offered by employers today. The prospect of long-term care is one of the most important issues your employees may have to face. The cost of long-term care is expensive and generally not covered by other employee benefits, disability or even Medicare.
If someone requires long-term care, it is not just an emotional strain but a financial one as well, impacting retirement savings and overall financial position. Savvy employers know that access to additional resources can increase employee productivity when confronted with managing long-term care situations. Long-Term Care plans demonstrate to your current and prospective employees that your company cares about them–increasing the ability to attract and retain the very best talent.
Most LTC plans are designed to provide benefits for care through nursing homes, assisted living centers, home health care and adult day care.
Employers can provide a base benefit while giving the employees the opportunity to “buy up” and obtain the level of coverage that they need for their families.
Group Medicare
We offer Medicare Supplements & Advantage Plans to eligible employees
GROUP MEDICARE PLANS
We help retirees and other eligible employees tackle the challenges of ever increasing premiums and health care costs with quality Medicare Supplements and Advantage Plans offered by our top national carriers. We offer a guaranteed issue “true group” approach. Eligible employees (and spouse) receive all the benefits of Medicare and more.
How Medicare Supplements Work
Medicare Supplement Insurance policies complement your employee or retiree’s Original Medicare Parts A and B. They cover some, if not all, of the expenses that Part A and B do not cover, like co-pays, deductibles and other charges.
There are many different types of Medicare Supplement policies available, however they are regulated so the benefits for these various policies (known as Plan A through N), are all the same regardless of the carrier. However, premiums can vary greatly among carriers.
How Medicare Advantage Plans Work
An Advantage Plan replaces your employee or retiree’s original Medicare Parts A and B, as they are rolled into one single health plan. Advantage plans may cover more healthcare costs than Original Medicare and have additional benefits, such as prescription drug coverage, dental and vision benefits.
We help retirees and other eligible employees tackle the challenges of ever increasing premiums and health care costs with quality Medicare Supplements and Advantage Plans offered by our top national carriers. We offer a guaranteed issue “true group” approach. Eligible employees (and spouse) receive all the benefits of Medicare and more.
How Medicare Supplements Work
Medicare Supplement Insurance policies complement your employee or retiree’s Original Medicare Parts A and B. They cover some, if not all, of the expenses that Part A and B do not cover, like co-pays, deductibles and other charges.
There are many different types of Medicare Supplement policies available, however they are regulated so the benefits for these various policies (known as Plan A through N), are all the same regardless of the carrier. However, premiums can vary greatly among carriers.
How Medicare Advantage Plans Work
An Advantage Plan replaces your employee or retiree’s original Medicare Parts A and B, as they are rolled into one single health plan. Advantage plans may cover more healthcare costs than Original Medicare and have additional benefits, such as prescription drug coverage, dental and vision benefits.
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