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Passed into law in 1985, COBRA is the federal mandate to offer qualified candidates the ability to continue their core benefits up to 36 months after losing benefits, whether from termination of employment, having their hours cut back, death, or divorce, etc. COBRA has been subject to eight changes since its inception and continues to undergo changes.

As recently as August 1996, the Health Insurance Portability and Accountability Act (HIPAA) introduced significant changes that affect every employer subject to COBRA. Noncompliance or mis-compliance can cost an employer very substantial dollars.

Let a third party assist in helping you to concentrate on the areas that make you prosper by taking the time consuming and burdensome task of COBRA Administration out of your hands.

 

Oftentimes employees are unprepared for the financial strain that comes with being critically ill.  A stroke, heart attack or cancer treatment can mean time away from work resulting in a possible loss of income.  In addition, out-of-pocket costs can cause a major drain on an employee’s finances.  Critical illness insurance helps to reduce financial hardship.  It can provide a cash payment to help employees deal with unexpected costs of serious illness.  Many of these plans also offer wellness benefits. When employees take an active role in their health, they are more likely to avoid the incidence of a serious illness.

 

Dental insurance for any size business group

For many employers, the logical addition to employee benefits after medical insurance is a group dental plan. Granite Group Benefits can help you select a quality insured dental plan based upon your needs and budget. Let us be your catalyst to implement this very meaningful benefit for your employees

 

Ancillary benefits to offer your employees

Without a group disability benefit from their employer, most employees have no income protection in the event of a disability. Though Worker’s Compensation Insurance covers work related injury, most off-the-job disabling illnesses or injuries leave your employees with no income source at all. Providing a group disability insurance benefit can also give peace of mind to the employer knowing you have provided quality protection while offering a complete benefits package to attract and retain a quality staff.

There are different options for both short- and long-term disability coverage, including waiting periods, percent of salary coverage, maximum benefits amounts, and duration. Granite Group Benefits can help decide on a plan that is right for your company and it’s employees.

 

A large majority of employees have no life insurance other than that provided by their employer. Group life insurance plays a key role in rounding out a complete benefits package. Life insurance provides security for the families of valued employees and helps you fulfill the role as a responsible corporate citizen. Granite Group Benefits can assist your firm in selecting the right life insurance coverage for your employees and their dependents. Choices can include employee buy-up, spousal coverage, and dependent options.

Most often, Accidental Death & Disability coverage goes hand-in-hand with a group Life Insurance policy. For just pennies more, you can provide the added security benefit. 

 

Flexible Spending Accounts (FSAs) are tax advantaged plans that allow employees to set aside money from their pay on a pre-tax basis that can be used to reimburse for certain eligible expenses according to sections 125, 129 and 213 of the IRS. FSAs can save your employees significant tax dollars, increasing their spendable income and improving morale. In addition, any monies set aside by your employees saves you 7.65% in matching FICA contributions, making FSAs a true win-win benefit.

 

Protecting your personal and financial information is extremely important.  Granite Group Benefits is committed to safeguarding our clients’ personal information against identity thieves.  As a part of that commitment our company has partnered with third party vendors to provide services to help protect your valuable information.

 

Coverage available on an individual or group basis

People are living longer which means most of us will require some type of long-term care as we age. As a result, many people will deplete their assets through the high costs of nursing homes and personal care.

This does not have to be the case. There are a variety of long-term care policies that are available. The policies provide coverage for various settings such as nursing homes, assisted living facilities, home care, etc. A good long-term care policy can help cover the cost of these types of confinements in the future and give you peace-of-mind now.

 

Medical insurance for both employees and individuals

Medical insurance is an important and valuable benefit for employees today. You, of course, want to offer them the best group plans available for your benefit dollar. Granite Group Benefits can help you choose the right plan(s) based on your needs. We present several viable options from medical insurance providers in your area in a clear, concise format so you can make an intelligent, informed decision.

-Health Maintenance Organization (HMO) -Point-of-Service (POS) -Preferred Provider Organization (PPO) -Self-Funded Plans

 

We can assist you in offering your employees prepaid legal service.
For a low monthly fee offered through voluntary payroll deduction, your employees can have access to valuable benefits that cover the most common legal needs they'll encounter.

 

Qualified Retirement Plans are critical in attracting, retaining and rewarding employees. Granite Group Benefits provides you with high quality solutions for your employees' retirement planning needs.

Trust, choice and flexibility remain the benchmark of a successful retirement plan. Granite Group Benefits can provide you with the solution your company needs in a dynamic retirement marketplace. For more information contact us

 

We will help you analyze alternate funding methods

In today’s market, many employers are looking at self-funding as an option to meet their benefit needs. Self-funding allows an employer to participate in the company’s employee health care by gaining greater control over plan design and financing of the plan. Under a self-funding plan, an employer is responsible for providing funds to pay claims when they are adjudicated. Because the employer is assuming the risk of expected claims, reinsurance is required to protect the plan against unpredictable costs.

Why self-fund? Employers self-fund for many reasons. Increased cash flow is one reason, as self-funding only requires claims to be funded when they are paid. Self-funding also allows an employer to receive direct savings on medical insurance premium loads like overhead, taxes, profit, sales commission, reserves, etc. Another reason is employer control. An employer can develop and tailor their own plan design. They can also set premium and contributions at a level that meets their needs. A final reason for self-funding is risk sharing. An employer can benefit in savings from a "good" claim year and rely on stop loss protection for claims in a "bad" claim year.

 

We can assist you in offering 100% employee-paid benefits
Offering voluntary benefits to your employees means you are adding value to your company's benefit plans without adding cost. Your employees can purchase their own individual policies that may be portable and guarantee-renewable. These policies may also fill gaps not covered by core company plans. Most important, you will be helping to boost your employees' morale and improve retention.

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