Group options are employer sponsored benefit plans. These options can be fully or partial paid for by the employer. The most commonly offered benefit by employers is medical insurance, followed by dental, vision, disability and life insurance as well as retirement options. Employers offer these options for a variety of reasons. Most employers offer benefits to attract and retain quality employees. It is estimated the average cost of replacing an employee is about 20% of the annual salary offered. This percentage considers down time production, cost of hiring, knowledge loss/re-training costs and overall workplace morale. Employee benefits are a great tool to maintain staff as well as provide incentives for new employees in this very competitive job market.
Medical / Health Insurance
Like group options, these plans are sponsored by the employer, however they can be partially or fully paid for by the employee. When offered through an employer the benefits and premiums are more attractive than privately purchasing them. The employer may also elect to offer these benefits pre-tax via payroll deduction. Examples of voluntary benefits can be: dental, vision, life, disability, accident, hospital indemnity. Employees view these benefits as value added and do not have to affect the employers bottom line, other than minimal administrative time.
We here at T&T Coverage Connection LLC want to be an extension of your human resource staff. We work with employers who have both a HR department as well as those who do not have one designated employee to handle the ever changing world of employee benefits. We are a one stop shop to administer the benefits package for employee changes, whether that be new hires, changes with current employees or turn over in staff. Additionally, we work with the carriers to address any invoicing issues that may occur. For new hires we keep you compliant by supplying the up to date compliance documents required by the department of labor relating to employee benefits. If you so choose, we can meet with new employees to review and process the enrollments. Should you suffer a turnover in staff, we notify the carriers to end the benefit and administer the proper type of COBRA offer to the former employee. We also aid employees should there be an issue with a claim, we work directly with the carrier and the provider to resolve the issue and follow up to make sure the claim processed correctly.
COBRA Administration (Federal/PA Mini)
Administration / Changes to Employee Status'
Billing / Invoicing Assistance