Pinnacle Wealth & Benefits Strategies, Inc. develops creative, customized plan designs that help you manage costs while providing the insurance features you and your employees need. Many group plans present a combination of corporate-paid benefits and benefits that employees choose voluntarily, contributing to the cost. Employees' voluntary benefits are usually purchased through payroll deduction, which Pinnacle can also set up for you.

We present different options to you, and help you understand them fully so that you can make the best decisions. As part of our superior client support, we will also assist you with the enrollment and employee education process. Furthermore, with our knowledge of employee benefit regulations and new products and our extensive network of insurance providers, we will help you monitor your plan's insurance features and update them when necessary.

Plan designs vary widely, but typically include:

Health Insurance. Because of rising premium costs, most employers offer a menu approach that enables employees to choose the health coverage that best fits their needs and budget. Companies contribute a fixed-dollar amount toward the premium cost, and their employees make up the difference. Pinnacle can help you determine the best funding option for your share of the premium costs and whether to offer a traditional indemnity plan, managed care plan or both. Then we will recommend the best providers for the type of plans you seek.

Dental Insurance. Dental insurance is not always a standard feature of group employee benefits plans, but you will gain a competitive advantage with your prospective and current employees if you offer it. Dental insurance can be purchased from your health insurance provider, or as a separate policy from a separate provider. Like health insurance, it is available in traditional indemnity plans or managed care plans.

Disability Insurance. Short and long-term disability coverage provides income benefits for employees who become disabled and can no longer work. Many companies offer both employer-paid, basic coverage and supplemental coverage on a voluntary basis for employees who wish to purchase more benefits at group rates.

Life Insurance. Many companies offer employer-paid group term life insurance and accidental death and dismemberment insurance, in addition to voluntary group life insurance. This enables employees to purchase supplemental coverage at group rates.

Long-Term Care Insurance. Long-term care insurance covers your care in a nursing home, assisted living facility or your own home. Health insurance plans do not usually cover long-term care, so long-term care insurance can provide critical safekeeping of your employees' assets. Most long-term care is aimed at individual policyholders, but Pinnacle has developed a niche in group long-term care coverage, which provides more favorable rates. In addition, employers now have a tax incentive to offer long-term care insurance to their employees.

Other Insurance. Prescription and vision insurance are other common components of employee benefit plans. Prescription and vision coverage may be purchased as part of your health plan, or as separate policies from separate providers.

Medical and Dependent Care Spending Accounts. These "Section 125" accounts enable employees to allocate a specified dollar amount of pre-tax earnings to pay for medical expenses not covered by your insurance plans or to pay for the cost of caring for a dependent. In effect, this benefit serves to lower your employees' costs for these kinds of expenses. 

Just imagine how much time and effort it would take you to find and develop the insurance features of your employee benefits plan. Let the experts at Pinnacle sort through the thousands of providers and options out there to create insurance solutions that are cost-effective yet comprehensive -- and make your overall group employee benefits plan more competitive. For more information on how Pinnacle's insurance expertise can help you achieve your business goals, please contact us.