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As an employee benefits specialist, we are here for you and make it easy for you. We realize that all employees are different. Our partners identify what is important for your employees and obtain appropriate coverage.
We partner with your present insurance agent to ensure you have the most comprehensive benefits platform you could possibly offer. Being that we work hand in hand with your trusted benefits advisor they provide insight as to how we can best assist your company.
Our partners will make sure you have a smooth enrollment process, by identifying what is important to your employees and obtaining appropriate coverage. As a Third Party Administrator we provide you with all documents to maintain compliance of your plan. We also track and process claims.
The Wellth SYNERGY Program
SYNERGY is a cutting edge program developed to improve the benefits platform that employers offer to their employees.
SYNERGY is a voluntary program that creates a unique tool called a Benefit Bank; allowing employees to easily manage their benefits, fund supplemental insurance products, manage their dependent care and more.
Business owners save time and money by reducing employee inquiries regarding current insurance coverage, adding additional coverage, and other related employee benefits.
Supplemental Insurance Products Available:
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Whole Life Insurance
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Accident Plans
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Cancer Insurance
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Critical Illness
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Hospital Indemnity
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Short Term Disability
The benefit does not stop there. Employees lower their gross taxable income when they participate in the plan. The benefit to the employer is they pay less on their employment taxes.
This plan provides additional security to employees because they know they have coverage that fills the gaps that their primary insurance leaves. This is a true win-win.
Tax Code
Section 125
Section 125 Cafeteria Plans are one of the most underused employee benefits for small businesses today. These plans simply allow employees to withhold a portion of their salary on a pre-tax basis to cover the cost of qualifying insurance premiums, medical expenses and dependent care expenses. Because Section 125 Cafeteria Plan benefits are free from federal and state income tax, an employee’s taxable income is reduced which increases take-home pay. And because the Section 125 Cafeteria Plan reduces employee gross income for purposes of income tax, the employer also enjoys a reduction in their payroll tax liability by eliminating matching FICA taxes of 7.65%.
Qualified Benefits
Group Term Life Insurance
Medical, Accident, and Disability benefits; and dependent care assistance
Section 105(b)
A medical reimbursement plan is any plan or arrangement under which an employer reimburses an employee for uninsured health or accident expenses incurred by the employee or his dependents. Health or accident expenses in this context are defined in Internal Revenue Code Section 213. The most common type of Section 105 plan is a self-funded health plan, where the employer has chosen not to insure health care benefits and to self-fund these benefits rather than pay premiums to an insurer.
Our Partners:
