Get help building your Benefits Package
Lifetime Benefits specializes in the design and implementation of comprehensive Employee Benefit Packages. Our dedication is to our clients, not to any insurance company.
Our company is committed to helping you and your employees exceed your goals. We assist with communication of benefits and keep you aware of new and changing legislation that affects your business.
We become an extension of your Human Resources department, allowing you to outsource your employee benefits issues and reduce your administrative burdens.
Short Term Disability (STD)
An STD plan protects employees from a temporary loss of income and provides employers with an extra measure of cost savings should one of their employees become disabled for a short period of time.
In a year, one in 13 working people will suffer some type of temporary disability lasting one week or longer, caused by an accident, sickness or pregnancy complications. (based on 1994 study of Union Security Insurance Company experience)
Long Term Disability (LTD)
During difficult times, long term disability can mean the difference between employees staying afloat or going under. When an employee knows they are covered and that their employer cares, they are more productive and loyal.
While many people carry life or mortgage insurance to protect their homes in the event of death, disability is 16 times more likely than death to cause a foreclosure. (Source: U.S. Government Housing and Home Finance Agency)
Note: Disability can be offered on an employer or employee (voluntary) paid basis.
Long Term Care
With advances in health care, people are living longer than they have in the past. This means that most people will require some type of long-term care as we age. Without protections in place, people will drain their savings and other assets due to the high costs of nursing homes and personal care. Provide your employees an opportunity to avoid this. A good long-term care policy can help cover potential future costs and give peace-of-mind now.
Many people think that long-term care services are fully covered by Medicare or other medical plans, think again. While medical plans do cover hospital stays, there is limited coverage for nursing home and home care. Medicare generally only pays for some "skilled nursing care" but does not pay for custodial care, the type of care many people may need when they develop a chronic condition and can no longer function independently.
Core Buy-Up
Monthly core buy-up plans allow an employer to offer a stable benefit plan to employees at a fixed monthly rate. The employer selects and pays the premium for the core benefit plan for all eligible employees. Employees who want more coverage can choose one of the three buy-up options, which they pay for through the convenience of payroll deduction.
With a traditional cost-sharing plan design, the employer does not know how many employees are buying in and thus will not know their annual costs until after enrollment. The core buy-up design allows the employer to lock in the annual benefit plan cost before enrollment. This is a tremendous advantage for employers who want to budget for additional programs.
Life
Group term life insurance protects the families who depend on your employees. The amount of coverage can be based on a multiple of earnings, flat amounts or a combination of the two.
The typical employee needs 5-7 times his or her annual earnings as adequate protection for his or her survivors
Dental
Good dental plans are designed to encourage preventive treatment, allowing employees to achieve oral health while striving to minimize dental costs.
Working Americans are absent some 32 million days every year and children miss an estimated 52 million hours of school annually due to dental emergencies. (Source: American Dental Association)
Vision
Group vision care generally pays for reasonable and customary charges incurred during eye exams by ophthalmologists and optometrists. Some plans may include discounts for Lasik surgery. Employers can choose a simple discount plan or a fully-insured plan with co-payments.
Voluntary Payroll Deduction Plans
A variety of benefit plan options can be offered on an employee-paid basis with the convenience of purchase through payroll deduction on a pre-tax basis. Disability, life, dental and vision can all be offered on a voluntary basis, as can other coverages such as cancer, accident, supplemental health or critical illness.
