Employee Benefit Plans
At Universal Benefit Plans, we provide expert brokerage and consulting services on all types of benefits, including medical and dental plans, disability insurance plans, life insurance and long-term care insurance.
Group Products
In a dynamic healthcare marketplace, medical programs continually evolve to satisfy both regulatory and cost-containment needs. On top of all this, not all employer groups are created equal, which is why carriers have developed a wide range of plan design options. Now add in HRAs, FSAs, HSAs, and a host of other three letter acronyms, and all of this becomes very confusing very quickly.
Navigating the complex maze of medical plan design options is an incredibly daunting task, one that employers should not go at alone.
That’s why for small and mid-size Massachusetts employers, Universal Benefit Plans designs, implements and manages highly innovative health insurance programs based entirely on each client’s unique coverage and budgetary needs.
Flexible Benefit Plans
A Flexible Spending Account (FSA) is an employer-sponsored Section 125 Plan through which employees can pay for certain medical and dependent care expenses on a pre-tax basis.
Through its partnership with a selection of preferred vendors, Universal Benefit Plans provides the following flex benefits services:
- Flex benefit needs analysis
- Assistance in plan administrator selection
- Assistance in plan design and implementation
- Multimedia Flex benefits communication tools that facilitate rapid learning
- Availability to present at employee Flex benefits meetings
- Ongoing service and support
FSA Advantages for employers:
- Payroll tax savings: Every dollar that your employees commit to an FSA saves you the matching FICA payroll taxes 7.65%.
- Makes high deductible, lower premium health plans more digestible for everyone
FSA Advantages for employees:
- More take home pay (FSA is a tax saving program)
- Helps offset medical maintenance costs subject to deductible (can also be used to pay for dental, vision, etc. costs insurance doesn’t cover)
Retirement Products
Your financial future depends on what you save for yourself today. Uncertainty in our Social Security system, inflated government spending, rising Medicare costs and many other factors all add up to mean one thing—you need to save more for your retirement.
