Employee Benefits

Most businesses—from sole proprietors to corporations with multiple state locations and hundreds of employees—require benefit planning and implementation resources. Eaton & Berube offers services to review and analyze your existing programs, evaluate your competitors' programs, and design, select and install medical, life, short and long-term disability, dental and voluntary group programs. We assist with claims and administration in all benefit areas and help establish Section 125 programs.

Health Insurance

As an employer, you have many choices for group medical insurance and you want to make sure you are offering the right coverage options to your employees as well as getting the most value for your dollar.  Our Financial Services team will work with you to gather competitive quotations and then explain all of your options as well as the differences between the various types of coverage:  HMO, Point of Service, PPO, Indemnity, Self-Funded or Partially Self-Funded plans as well as some of the more recent innovations including H.S.A.’s, H.R.A.’s and F.S.A.’s.  These plans differ in many ways, and we can assist you in making an informed decision about what type of plan will best suit your needs and the needs of your employees.

Disability Insurance

As an employer, you know that productive employees are the key to your success.  Losing an employee to an injury or illness, even for a short period of time, can make a huge impact on both your business and on the disabled employee.  An employee’s ability to earn a living is their greatest asset and disability insurance can help protect this asset.  For an employee to be disabled and not be able to earn an income, even for a short period of time, can be devastating to that employee and his or her family financially.

As an employer, you can provide short-term and/or long-term disability insurance to your employees at a relatively low cost to you.   Providing this coverage could mean that you avoid expenses for a disabled employee including salary continuation, impaired or lost productivity, hiring costs, training costs and overtime expenses while the disability insurance provides the employee with a percentage of their income so they can continue to support themselves and their families while they are unable to work.

Dental Insurance

When setting up your group benefit programs, you should keep in mind that dental insurance is a relatively low-cost benefit that is truly valued by employees. As an employer, you can choose from the many options we can provide which include different deductible and coinsurance amounts for a variety of preventive/diagnostic procedures, basic and major procedures as well as orthodontia. In recent years, the number of employers offering dental benefits has increased, due in part to employee demand for dental benefits. Our Financial Services team can provide you with a wide variety of dental options including fully insured and voluntary programs as well as A.S.O. plans for larger groups.

Section 125 Plans

The IRS Code Section 125 allows employers certain tax benefits on their group benefit plans and offers employees tax benefits on money spent out-of pocket for medical expenses and dependent care. Cafeteria Plans are referred to by several names including Flexible Spending Accounts (F.S.A.’s), Choice Spending Accounts, Section 125 Plans and/or Reimbursement Accounts. Cafeteria Plans offer employees a convenient way to pay for certain expenses on a pre-tax basis which results in a savings to the employee on FICA and Federal Taxes. Dollars allocated to a Section 125 Plan are subtracted from the employee’s taxable income and is also free from employer and employee paid Social Security Medicare and Unemployment taxes. The employer also saves on FICA and Workers Compensation taxes.

Long Term Care

An important part of your overall financial planning is Long Term Care Insurance.  Long-term health care can be a threat to your overall financial security because most costs associated with long-term health care are NOT covered by your regular health insurance or by disability insurance.  Medicare does not cover long-term care unless certain requirements are met, and Medicaid will pay for some nursing home care but only if you meet the strict guidelines set forth by the Federal and State government.  This means that your savings and/or investments from years of hard work could be lost by having to pay for long-term care expenses.  Long Term Care Insurance is NOT just for older people, in fact, it is less costly and easier to obtain if you apply for coverage while you are younger and in good health.  Once your health has started to decline, you may not be able to get this important coverage.

For a quick and reliable quote, call the nearest Eaton & Berube office , or complete our online quote request form.