Employee Benefits

Today’s labor market is competitive, and finding quality employees that have the experience, values, and knowledge necessary for the job can be a challenge. Then, after you’ve put your team together, you still have to figure out how to keep them motivated and happy to be there. Offering benefits that are the right fit for your business can help to reduce employee turnover, which in turn also helps your long-term stability. Even though it’s an added expense, it’s typically much less than what it takes to hire, train, and retain new employees.

We can guide you through the process of designing a custom benefits package that keeps you competitive and doesn’t drain your wallet. We’ll show you a wide variety of services and solutions to find the options that fit your needs and budget. Certain options can come at little to no cost to you, such as a voluntary payroll deduction program. No matter what your needs are or where you’re at in the process of establishing a benefits package, Financial Literacy, LLC is here to help. Some of our key benefit offerings are detailed below.

Group Major Medical Plans

This kind of plan meets the standards and covers all the minimum essential benefits of the Affordable Care Act (ACA). It also provides benefits for a wide range of inpatient and outpatient health care services.

Group Disability Insurance Plans

Group disability plans offer basic salary compensation for employees that experience a short- or long-term disability. Competitive rates are also available on your state-required disability.

Group Life Insurance Plans

This is a plan that offers life insurance benefits to employees, where the insurance contract is only between the group and the insurance company. Members of the group receive certificates of coverage at little or no cost to them.

Group Dental and Vision Plans

These plans offer coverage for dental and/or vision expenses. Most typically, group dental and vision plans are an add-on to a health insurance plan.

Flexible Spending Accounts*

Flexible spending accounts may provide you with a way to make eligible out-of-pocket costs pre-tax, potentially helping you and your employees save tax dollars.

Voluntary Coverage**

Adding voluntary coverage options to your plan can enhance your benefits program with little or no out-of-pocket cost for you. Some of the products offered are whole and universal life insurance, dental insurance, vision insurance, short- or long-term care, and cancer protection.

Retirement Plans

We will work with you to find the right retirement plan for your needs and budget, and help you find the best way to fund these qualified and non-qualified plans. Some of the options we offer are profit sharing, 401(k), defined contribution, and defined benefit.

*Please consult your own tax advisor for tax advice.

**Your participation in the payroll deduction life insurance program is completely voluntary. Since this program is not intended to be subject to the Employee Retirement Income Security Act of 1974(ERISA), your employer cannot contribute to or endorse any policy offered under this program.

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