GROUP HEALTH INSURANCE
Madison Avenue Brokerage Corp. is responsible for coordinating closely with your benefits staff in the areas of marketing, product/plan design, eligibility, ID cards, claims, provider match, enrollment meetings and more.
HMO, EPO, EPO COST SHARE, POS
Group Life / Disability / Dental
Employers know that employees of a business will effectively determine whether the venture will be a success or not. Committed employees who are satisfied with their jobs, and the rewards their jobs bring, are a significant asset of any business.
That is one of the reasons employers seek out ways to reward employees for their hard work and loyalty. It is also key recruiting tool when trying to attract employees that are qualified to excel at the position being offered. Some of the ways a business can accomplish these goals is by offering an ancillary benefit package that includes the following:
Group Term Life:
Group Term Life Insurance is a program of affordable renewable Term Life Insurance that covers the lives of a group of individuals, such as the employees of a business. An employer can use a formula that may be based on age, years of service, compensation or position when determining how much insurance coverage will be provided.
Group Term Life is popular with employees for a number of reasons:
• Employees receive the Insurance at no or little cost depending on whether
the plan is contributory
• Employees can secure coverage, in most cases without a physical exam.
• The cost of the first $50,000 of life insurance coverage provided to an
employee is not as income for tax purposes.
• Coverage may be converted to individual policies upon termination
• High levels of insurance protection can be bought at a reasonable cost.
Group-term life insurance programs are relatively easy and economical to administer, further easing the burden for employers.
This benefit covers employees who can't work because of an illness or injury that happens whether they are at work or not. This type of insurance will offer incentives that help employees return to work. LTD pays employees an amount equal to a portion of the employee's wages when they are out of work. Employers can choose the benefit payment how long they will be paid and various other options. This coverage will replace part of an employee’s income for an extended period of time, typically 5 Years of till Age 65.
Short Term Disability:
This benefit covers employees who can’t work because of an illness or injury that happens whether they are at work or not. Short Term Disability will pay an amount equal to a portion of the employee’s wages when they are not at work but will typically be for a shorter duration. This type of protection can supplement any State Disability Proceeds in the first six months and can last as long as two years.
Cost Sharing Plans: - Many carriers offer plans with substantially lower premiums which have higher deductibles for services you utilize least, such as Inpatient Hospitalization. These plans give you the best of the traditional HMO/PPO plans combined with Major Medical Plans.
Madison Avenue Brokerage Corp. will serve as your advocate in dealing with the various carriers and their representatives.