Benefits

Medical

As a leader in group medical insurance, Strategic Business Services works with clients of all sizes, industries, geographical locations and funding levels. We help businesses evaluate their current offerings, benchmark those plans to those of employers in your area, and then provide a simple plan and price comparison from which you can make an educated decision. We are top tier producers with United Healthcare, Medical Mutual of Ohio, Anthem, Humana, and Aetna, among others.

Health Reimbursement Arrangement

If your company offers a health plan, you may establish a health reimbursement arrangement. An HRA is an IRS-approved, employer-funded, tax advantaged employer health benefit plan that reimburses employees for out of pocket medical expenses and individual health insurance premiums. The employer makes contributions to an employee’s account and provides reimbursement for eligible expenses. A health reimbursement arrangement is an excellent way to supplement health insurance benefits and allow employees to pay for a wide range of medical expenses not covered by insurance.

Disability

What would happen if an injury or illness prevented your employee from working and earning an income? Disability insurance provides an income when he or she is not able to work because of a covered illness or off-the-job accident. Primary wage earners in a family should be covered by disability insurance.

Wellness Programs

Approximately two-thirds of all deaths in adults aged 25 years and older in the United states today can be attributed to cardiovascular disease, cancer and diabetes. The primary causes for these conditions are four preventable risk factors – tobacco use, poor eating habits, inadequate physical activity and being overweight. A well designed Employee Wellness Program can directly affect employee absenteeism, health care costs, workers’ compensation claims and premium, lost productivity, and disability. A study done by the University of Michigan found that for every dollar spent on offering wellness; an average of $3.50 was saved.

Dental

Regular exams and cleanings from your dentist help teeth and gums stay healthy. There is increasing evidence linking our oral health with our general health.By placing an emphasis on prevention, and by covering regular teeth cleanings and check-ups, Americans saved nearly $100 billion in dental care costs during the 1980s.

Vision

Vision insurance is a wellness benefit designed to reduce the costs of routine, preventive eye care such as eye exams, eyewear and other services. Potentially high costs of routine eye examinations and prescription eyewear can be of real concern, especially for large families. Vision insurance policies typically cover routine eye exams and other procedures, and provide specified dollar amounts or discounts for the purchase of eyeglasses and contact lenses. Some vision insurance policies also offer discounts on refractive surgery, such as LASIK and PRK.

Life Insurance

Have you thought about how your employees’ survivors would cover their finances if anything happened to their loved one? Life insurance is the base of financial security for your employees and their families, protecting their financial resources against the uncertainties of life; allowing them to plan for the future.

Voluntary Products

Strategic Business Services is able to help you offer, at your employees’ expense, a wide variety of voluntary products. You might be familiar with dental, vision, life and disability. However, there are many other insurance products to consider: critical illness, telemedicine, gap health coverage, accident, cancer, and more.

Pre-tax Plans

The Premium Only Plan is the building block of the Section 125 Plan. It allows for certain employee paid group insurance premiums to be paid with pre-tax dollars. Employees can reduce their taxable income by 20 – 40%. The savings are on city, state, and federal income taxes, including Social Security and Medicare. Employers save the matching Social Security (6.20%) and Medicare (1.45%) taxes, which equates to 7.65% (1.45% for municipalities) of all the dollars put through the plan, resulting in a substantial savings.

Flexible Spending Arrangement (FSA)

If your company offers a health plan, employees may opt to have a Flexible Spending Account. An FSA allows a fixed amount of pre-tax wages to be set aside for qualified expenses. Qualified expenses may include child care or uncovered medical expenses. The amount set aside must be determined in advance and employees lose any unused dollars in the account at year-end.

Health Savings Accounts (HSAs)

HSAs are tax-advantaged savings accounts used with qualified health insurance plans. Employees can take more control of their healthcare costs and save on premiums with an HSA.

COBRA

COBRA provides certain former employees, retirees, spouses, former spouses, and dependent children the right to temporary continuation of health coverage at group rates. Health coverage for COBRA participants is usually more expensive than health coverage for active employees. This is because employers usually pay a part of the premium for active employees, while COBRA participants generally pay the entire premium themselves. We can help you set up your COBRA coverage, or help you find a better health coverage alternative.

Telemedicine

There are many reasons people avoid visiting a doctor’s office–high co-pays, not thinking their ailments are worth a trip to the doctor, not living near a medical office, they are afraid of doctors, they can’t get an appointment soon enough, etc.
Telemedicine provides immediate access to physicians over the phone, secure e-mail or video. Our telemedicine program gives your employees more choice and control. Many employers report less lost work time when employees have access to telemedicine. Monthly telemedicine fees are very affordable, normally under $10!

“Strategic Business Services has provided trustworthy advice regarding our company’s benefit plans. They take the time to find out what our employees want and need, as well as what is best for our company’s bottom line.”Angie Howard PHR, TechSite