Employee Benefits Explained - Products and Services
Business / Commercial Insurance
Medical Insurance
There are several factors that affect a company's
choice of medical plans. Below are some of the
most common health plans available to qualifying
groups. Bozzuto Benefits, Inc. will assist you in
securing the right health plan.
PPO (Preferred Provider Organization) - a form of
managed care in which you have more flexibility in
choosing physicians and other providers than in
an HMO. You can see both participating and
non-participating providers, but your out-of-pocket
expenses will be lower if you see participating providers.
HMO (Health Maintenance Organization) - a form of managed care in which you receive all your care from participating providers. You usually must obtain a referral from your primary care physician (PCP) before you can see a specialist.
POS (Point-of-Service Plan) - a form of managed care plan in which primary care physicians coordinate patient care but there is more flexibility in choosing doctors and hospitals than an HMO.
High Deductible Health Plan - a plan that provides comprehensive coverage for high-cost medical events. It features a high deductible and an annual limit on out-of-pocket expenses. This type of plan is usually coupled with a health spending account (FSA) or a health savings account (HSA).
Health Savings Account (HSA) - an account established by an employee or an employer to save money toward medical expenses on a tax free basis. Any balance remaining at the end of the year rolls over to the next year. Your HSA account is portable; the funds remain with you regardless of employment.
Health Reimbursement Account (HRA) - an account established by an employer to pay for an employee's medical expenses. Only the employer can contribute to a health reimbursement account. Can save employer money on employee provided health benefits.
Flexible Spending Account (FSA) - employees use pre-tax dollars to set-up these accounts and draw on them to pay for qualified medical expenses during the year. Unused amounts are forfeited at the end of the year.
Dental Insurance
Through the network of dental insurance companies we work with, Bozzuto Benefits Insurance Services can help you and your employees choose the right dental plan. The following summarizes the various plans available
.
DHMO (Dental Health Maintenance Organization) - this type of plan, also known as "capitation plan", operates like a medical HMO. It provides a comprehensive dental care to enrolled patients through a designated provider office (dentist).
PPO ( Dental Preferred Provider Organization) - a dental PPO allows a particular group of patients to receive dental care from a defined panel of dentists. The participating dentist agrees to charge less than usual fees to this special patient base. If the patient chooses to see a dentist who is not designated as a "preferred provider", that patient may be required to pay a greater share of the fee-for-service.
Dental Insurance - Indemnity Plan - this is a type of dental plan where you choose your own dentist. This type of dental insurance plan pays the dentist on a traditional fee-for-service basis. An insurance company usually pays 50%-80% of the dentist fees for covered procedures and the remaining 20%-50% is then paid by the client.
Vision Plans
Incorporating a healthy vision plan into your company's employee benefits portfolio is affordable and easy. Let Bozzuto Benefits Insurance Services help you select a high quality vision plan for your group.
Depending on the type of vision plan your company signs up for, coverage may range from comprehensive eye examinations including glaucoma screening, frames and/or lenses (frequency may be applicable), contact lenses and Lasik surgery.
Group Life Insurance
Group life insurance as part of your total employee benefits package is a way of extending your employee's financial resource to his/her loved ones in the event of death.
An optional feature to term life insurance is AD&D (Accidental Death and Dismemberment) - this feature pays an enhanced benefit to the employee's beneficiary in the case of accidental death and dismemberment.
There are voluntary plans that offer employees additional coverage by allowing them to purchase a stand-alone policy or additional amounts of insurance. This may require insurance underwriting.
Group Disability Insurance
Disability insurance replaces your employees' income if he or she suffers from an illness or injury and cannot work. This is a very important type of coverage that should be a part of your employee benefits package.
An STD (Short Term Disability) Plan provides protection for your employees in the event they are unable to work due to an illness or injury. The benefit duration for an STD plan is limited and benefits are paid usually less than a year.
A LTD (Long Term Disability) Plan provides additional protection for employees when they suffer from an injury or illness and the disability is expected to last more than a year or more.
Long Term Care Insurance
Long term care can be very expensive. Whether in a nursing home, assisted living facility, or your own home - long term care is not usually covered by health insurance. You can offer long term care to your employees on a voluntary basis. Most worksite LTC plans are non-discriminatory and therefore, your company may choose to subsidize all or part of the premiums for selected employees.
Employee Assistance Program (EAP)
Employee assistance programs are intended to help employees deal with their personal problems that might adversely impact their work performance, health and well-being. There are several low-cost EAP plans that you can offer your employees to promote a health work environment. EAP programs generally cover assessments, referrals to specialists and the service usually extends to the employees' household members.
For more information on company Employee Benefits call or email :
Kirk Grundman, 408-947-3000
kirk@dbinsurance.com
Bozzuto Benefits Insurance Services offers competitive employee benefits packages. Give us a call for a free evaluation.
The following Employee Benefits are explained further below :
Medical Insurance
Dental Insurance
Vision Plans
Group Life Insurance
Group Disability Insurance
Long Term Care Insurance
Employee Assistance Program
How should you start the process of
having us look into providing your
company a competitive Employeee
Benefits Package ?
■ Download and complete the
Group
Census Form
and returned to our office.
Click here to download
this form.
■ After completing the Group Cencus Form,
please fax to (408) 288-7130 or
scan and e-mail to kirk@dbinsurance.com
Bozzuto Insurance Services
Corporate Office
1 Almaden Blvd, Suite 810
Downtown San Jose, CA 95113
515 S. Flower St.
36th Floor
Los Angeles, CA 90071
402 West Broadway
Suite #400
San Diego, CA 92101
Bozzuto
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