Benefit Concepts offers a fullrange of services that cater to individuals and
companies of all sizes.
Our agency actively participates in the group and individual medical insurance
marketplace. Whether you are investigating medical insurance for an individual
or group plan, our agency is adept, proficient, and prepared to support you. We
can help you evaluate your needs, survey the marketplace, prepare sidebyside
plan comparisons for your review, and then assist you in implementing the plan
or program that best meet your budget, goals, and needs.
Health Savings Accounts (HSA)
Our employer clients are enthusiastic about helping their employees making
accountable health choices and saving monies for their future. In turn, Benefit
Concepts is a champion for implementing Health Savings Accounts, which are
Consumer Directed Healthcare (CDH) accounts that allows pretax monies to be
set aside and cover future health claims and expenses that might not be covered
under traditional health plans. The employee owns the HSA, which is similar to a
401(k) account, except its use is for future medical expenses that can be incurred
long after you are employed. Combined with an HSAcompatible health plan,
HSA's gives you more control over your financial healthcare future, and offer a
more affordable approach to healthcare. The health plans typically provide lower
premiums. HSA provides tax benefits when plan contributions are made, as the
employee invests its money, the funds you save and continue to grow can be
used to pay for qualified medical expenses. In addition, employer contributions
plus employee contributions equates to a greater chance to build your Health
Savings Account. Lower insurance premiums combined with using taxfree
money can lead to significant savings.
Health Reimbursement Accounts (HRA)
BCI provides our clients with Health Reimbursement Accounts. HRA's are
employerfunded plans that reimburse employees for medical expenses that are
not included in the company's standard insurance plan such as deductibles or
coinsurance. Because the employer owns and funds the plan, any distributions
are considered tax deductible (to the employer). Reimbursement dollars collected
by the employee are often tax free. Like Health Savings Accounts, HRA plans
may offer a debit card linked to your account to pay for your qualified medical
care expenses and supplies.
Benefit Concepts partners with toprated carriers within the dental insurance
marketplace. Whether you are considering dental insurance for an individual,
small business, or a large group quote, Team BCI is prepared to assist you. We
can help you appraise your needs, evaluate the market, compare plans and
costs for your review, and then help you execute the benefit plan or program that
you determine most accurately meet your requirements.
Potentially high costs of regular eye examinations and prescription eyewear can
be of real concern, especially for large businesses, individuals with special vision
needs or their families. Being able to offset a portion of these costs by providing
vision insurance for yourself or business is a great investment. Vision insurance
is a wellness benefit designed to provide routine, preventive eye care such as
eye exams, eyewear, and other services at a reduced cost. Benefit Concepts
knows that each of our clients is one of a kind, and protecting their sight is an
important matter. That's why we offer a wide range of vision care plans to fit your
business and personal needs.
Life and Accidental Death & Dismemberment Insurance
Benefit Concepts is very active in the group and individual Life insurance
marketplace. Whether you are researching Life insurance for an individual, a
group plan, or a 1000+ employee corporate plan, our agency is available to
assist you. We can help you evaluate your needs, survey the marketplace,
prepare sidebyside plans with cost comparisons, and then help you implement
the best benefit plan or program to meet your objectives.
Short Term Disability
Uninsured employees who suffer a shortterm injury face real concerns about
surviving without a steady paycheck. According to the National Safety Council's
report for 2008, nearly 70% of disabling injuries occur off the job. Under these
circumstances, Worker's Compensation will not cover any lost wages, medical, or
hospital costs. And research shows, on average, employees who rely on
personal savings are unable to sustain outofwork expenses beyond the first
Having the right benefit plan can replace up to 60% of income lost due to injury
or sickness. Our agency focuses on ShortTerm Disability as the first step to
gaining control of overall disability costs. A wellmanaged STD plan can help an
employer identify, track and handle claims professionally and consistently. Active
claim management through a fullyinsured plan can help shorten the duration of
disabilities through rehabilitation and returntowork efforts, reducing your costs
and preventing short term disabilities from becoming a long term issue.
Short Term Disability Frequently Asked Questions (FAQs)
Q: Will our Worker's Compensation cover short term claims?
A: 70% of disabilities occur off the job and are not covered by Worker's Comp.
Q: Doesn't State Disability pay for short term disabilities?
A: Yes, but SDI only pays 55% of income up to $334 per week. An STD plan will
pay on top of SDI and can be designed with higher percentages and maximums
to replace a larger amount of income.
Q: Does an insured STD plan cover pregnancies?
A: Yes, pregnancies are covered as any other disability.
Q: How often do short term disabilities occur?
A: The average occurrence of STD claims is 65 per 1,000 insured lives each
Long Term Disability
When faced with an employee who has developed a long term disability,
employers who elect not to offer disability insurance are confronted with several
crucial decisions. Choices must be made whether to continue to pay all or part of
a salary, offer unpaid leave, or even to terminate employment. The outcome can
be unfortunate for both the employee and the entire company. LongTerm
Disability allows an employer to outsource these difficult decisions surrounding a
disabled employee to disability experts. An insured LTD plan will replace nearly
67% of an employee's income, till the age of 67, in situations where catastrophic
illness or injury exists. Along with income protection, most disability plans offer
rehabilitation and returntowork services that are essential to the recovery of
disabled employees. The goal of LongTerm Disability insurance is to financially
protect and return disabled employees to a healthy and productive life.
Long Term Disability Frequently Asked Questions (FAQs)
Q: How many people really use their LTD plan?
A: There is a 1 in 5 risk that a 35 year old will be disabled for 90 days or more
before age 65. You are more likely to become disabled than to die during your
working years. (SITE THE SOURCE)
Q: How much will LTD cost the company?
A: The general rule is that a fully insured LTD plan may cost a company about
one half of one percent of the company's monthly payroll.
Q: Will an LTD plan pay a disabled employee who returns to work on a part-
A: Yes, most LTD plans will pay an employee who is limited from performing all
of their job functions, and has suffered a 20% or more loss of income as a result.
Q: What are the most common income replacement percentages?
A: Most companies implement a plan that replaces from 60% to the highest
percentage available, 66 2/3%, of an employee's income in the event of a
Our agency assists individuals, age 65 and older, to improve his or her current
coverage, or reduce outofpocket costs. To ensure our clients’ overall health and
wellness needs are met, we conduct an extensive evaluation on their current
status, provide education on the various options and then prepare a customized
program that achieves our clients’ healthcare goals and financial requirements.
Whether it is a Managed Care Plan or a Traditional Supplement, our primary
concentration is to help our clients better understand their Medicare benefit
options. We also assist in Part D coverage. To find the Medicare plan that is right
for you, contact us today.
● Traditional, Advantage & Supplement Plans
● Plan Designs for Individuals & Couples
● Instant Quote
● Simplified Application
When an employee and/or its dependents incur an unexpected life change, the
treatment, recovery period, and financial matters can consume the thoughts and
energy of your employees. Without insurance protection and financial security,
the life change can lower company productivity and transfer more requirements
and responsibilities to additional coworkers, including your Human Resource
Voluntary Worksite plans are elective insurance products offered to the
employees at no cost to the employer. These benefits allow employees to satisfy
gaps of coverage outside of the core benefits plan, as well as manage their
benefits portfolio based on individual need.
Benefit Concepts has a fundamental role with employers to provide access to
voluntary and worksite benefits that offer a cushion of financial protection. To an
employee, the workplace has become the central point of access to receive
voluntary coverage an employee can afford on an ongoing basis.
● Personal Accident coverage is supplemental insurance used to
reimburse a portion of actual expenses paid. Benefits vary and may
include the loss of life, accidental dismemberment, loss of speech,
hearing, or sight, loss due to coma, or loss due to complete disability.
● Critical Illness/Cancer
● Critical Illness coverage is a medical insurance plan that provides a lump-
sum benefit designed to help alleviate the financial burden following
diagnosis of a critical illness or condition as defined in the policy. Cancer
plan benefits can be utilized for medical and nonmedical expenses,
which may include, but are not limited to; loss of income, transportation,
lodging, child care, and increased living expenses as defined by the
● Disability is an insurance product designed to replace a percentage of
your gross income, on a taxfree basis, in the event that an illness or
disability prevents the employee from earning an income. Benefits are
paid directly to the insured in either weekly or monthly instalments
dependant on policy terms.
"COBRA" stands for Consolidated Omnibus Budget Reconciliation Act of 1985.
COBRA is the federal health care continuation law that requires if an employee
or other "qualified beneficiary" loses employerprovided health coverage due to
termination of employment or another specified "triggering event," the group
health plan must offer continued health care coverage to the qualified
beneficiary. The qualified beneficiary may be (and typically is) required to pay the
full cost for the coverage.
COBRA coverage has limited duration. In most cases, the maximum COBRA
period is 18 or 36 months from the date of the qualifying event.
COBRA effects employers with 20 OR MORE EMPLOYEES. Employee count
includes all full and part time employees on the payroll.