Group Products

Why buy dental insurance for your employees? Studies indicate that benefit extras like dental plans pull in and help companies keep their high-quality employees. The most recent data (2007) from the National Association of Dental Plans shows that 57% of the population in the United States has dental benefit coverage. Some 97% of those who do have dental coverage get it through their employer or another group, most often as a policy separate from their health insurance plan. There are several types of dental insurance plans.

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In addition to health care, dental and life insurance benefits, many employers offer short-term disability and long-term disability insurance benefits. There are many ways to offer the benefit: Many companies pay 100% of disability insurance premiums and give the benefits to all eligible employees, while others offer disability insurance benefits at discounted group rates and give eligible employees the option to elect coverage. Another option is to offer short-term disability insurance for free, and give eligible employees the option to elect long-term disability insurance at discounted group rates.

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This option is best for groups, for vision insurance is affordable and a wonderful benefit for employees — especially aging employees, who are more likely to need vision care.

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PayChoice is the nation’s largest privately-held payroll company and provides payroll and employee management services for small- and medium-sized businesses (SMB)s. In addition to its core payroll and tax administration offerings, PayChoice’s suite of services also includes HR compliance and counseling services, workers compensation insurance, 401(k) solutions and Section 125 solutions, time and attendance and background checks.

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The stock market’s decline has already ravaged your 401(k) plan. Now it could hurt your pension, too,” wrote reporter Todd Wallack in The Boston Globe in March 2009. “Under a law that took effect last year, underfunded pension plans may be forced to limit lump-sum payments and suspend cost-of-living increases for retirees. In addition, some plans could be frozen, preventing current employees from earning credit for additional years on the job.”

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At Golden & Cohen, we provide the following:

Property & Casualty — Automobile, Bonds, Crime, Directors and Officers, Employment Practices Liability, Electronic Data Processing, Fiduciary Liability, General Liability, Homeowners, Inland and Ocean Marine, Internet Liability, Property, Professional Liability, Workers Compensation

Liability Insurance — Workers Compensation, Commercial General Liability, Business Automobile, Umbrella Liability, Employee Benefit Liability, Fiduciary Liability, Professional Liability, Directors and Officers, Other Risk Exposures

Property Insurance — Business Interruption, Computer Equipment & Peripherals, Valuable Papers and Records, Property Floaters, Accounts Receivable, Transit-Off Premises Property, Building Equipment & Machinery, Other Risk Exposures

Crime Insurance — Commercial Blanket Bond, Money & Securities, Depositor’s Forgery, Other Risk Exposures

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Today, health insurance is generally used to describe a form of insurance that pays for medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis (e.g., by a firm to cover its employees) or purchased by individual consumers. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government.

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Group life insurance is a very inexpensive product that an employer can offer to employees. These policies are typically guaranteed issue, which means there is no underwriting necessary and in most situations all employees would typically be insured under the group plan.

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Many people believe long term care is only for the elderly, but 57% of people who file a long term care claim with Unum are under age 65, according to internal data cited in a new 2008 Buyers Study. The average age of those claimants is 54, according to the study. These are just a few of the conditions that can occur at any age and prompt the need for long term care insurance: On average, a year in a nursing home costs more than $70,000 for arthritis, heart disease, stroke, brain trauma, and cancer.

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