Insurance Sevices

Employee Benefits Program

Consulting and coverage that benefits your employees and your business

Reid understands the business decisions that go into choosing the best employee benefit program solution. Not only does that program need to be cost effective, it also needs to help attract and retain the best talent. We partner with our clients to help them navigate that process and convert their benefit program into a strategic advantage.

In addition to consultation and services supporting group health insurance, flexible and cafeteria plans, health savings accounts, COBRA and termination benefits , and employer life and disability insurance, Reid protects our clients’ bottom line by offering:

  • Advisement on industry trends and innovations
  • Evaluation of and negotiation of premium rates
  • Review and examination of alternative insurance company products
  • Claims analysis
  • Rate projection assessment in preparation for renewals
  • Year-end insurance company financial accounting reconciliation
  • Employee contribution schedules review
  • Alternate funding analysis and recommendations

Medical, Dental and Vision Plans

Medical, dental, and vision coverage to protect your employees and your business

Employers who offer employee benefit plans – or who are searching for new or better packages –must weigh complex variables: cost, a contribution strategy that aligns with their business size, and compliance with government regulations, among others. Choice of provider is equally critical.

Reid specializes in services for businesses that need a competitive employee benefit package that includes medical, dental, and vision coverage. We can create a strategic plan to manage your goals, challenges, and budget. We also keep you up-to-date and compliant with employee retirement income security, Department of Labor, and evolving healthcare reform laws.

As your advocate for human resources’ medical, dental, and vision benefit plans, claims concerns, Reid is an informed, proactive partner that is focused on your long-term success.

In addition to our insurance product, our insurance division services include:

  • Advisement on industry trends and developments
  • Continuous evaluation and negotiation for premium rates
  • Marketing studies
  • Claims experience analysis
  • Rate projections for upcoming renewals
  • Year-end insurance company financial accounting reconciliation

Flexible and Cafeteria Plan

Your success, our support with flexible insurance plans

Every employee has different financial and healthcare needs. One size does not fit all. Employers who offer a flexible benefit plan or cafeteria plan maintain the tax advantages of group coverage while providing employees with more choice and control over their health care dollars.

Reid has a robust insurance portfolio with a selection of flexible benefit plans, including cafeteria plans and pre-tax flexible spending accounts, that can help employers save money, maintain more financial control over their benefits plan, and attract and retain quality employees.

Health Savings Accounts

Creating health savings account solutions for every business need

Employees today have come to expect a choice in their healthcare benefit options. Health savings accounts (HSAs), health reimbursement arrangements (HRAs), flexible spending accounts (FSAs), and medical savings accounts (MSAs) are competitive value-added options that provide more flexibility and control for both employers and employees.

Understanding the specific tax and government code regulations associated with each type of account is a complex undertaking. Likewise, Reid recognizes that few employers have the time or resources to oversee this important facet of their business.

Through strategic insight founded on years of experience, up-to-date insurance industry knowledge, and an awareness of trending developments, Reid applies strategic insight to help our clients make well informed decisions about selecting and implementing the best savings, reimbursement, and flex accounts for their business.

COBRA and Termination Benefits

Closing the gap in health and termination benefits

In both good and bad economic times, employers may find it necessary to terminate relationships with employees – and adhere to applicable employment law requirements. Employers who have 20 or more employees and who offer healthcare benefits are required to comply with COBRA – the Consolidated Omnibus Budget Reconciliation Act of 1985. Under this act, beneficiaries who lose health benefits due to a qualifying event have the right to continue participation in group health benefits.

Employers may choose to provide additional termination benefits beyond those legally required, such as severance packages that include additional payments, stock options, and access to employment search services.

Reid’s qualified insurance professionals provide consulting for employers to understand the eligibility requirements, impact, and administration of COBRA and termination benefits.

As experts in this area of employee benefits, we identify the most current regulatory concerns, provide information about taxation credits, and explain changes in reimbursement rules for our clients. Our holistic approach provides a roadmap for employers to appropriately manage their obligation to former employees, in tandem with hiring, firing, and taxation requirements that accompany termination.

Employer Provided Life Insurance and Disability Insurance

Protect your employees’ paychecks and your bottom line

Life insurance and disability insurance as employee benefits serve two purposes: they safeguard employees and their beneficiaries in the event of an untimely death or accident that compromises financial security, and it helps the employer attract and retain quality employees.

Reid offers a broad selection of life insurance and disability insurance products for employers that can be tailored to fit specific needs. From permanent and low-cost term life insurance packages to short- and long-term disability coverage, executive disability packages, and paid leave coverage, our insurance solutions are designed to provide peace of mind and mitigate risks for employees and employers.

For more information, please fill out the form below or call Julie Seiden at 516-342-1314.

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