Offering health insurance to your employees plays a critical role in retaining and attracting the best workers. Especially in New York, the costs for health insurance have skyrocketed, and the choice of carriers has dwindled. Business owners need an expert who is singularly focused on group health insurance in New York to untangle the complexities and present some affordable out-of-the-box options.
It's renewal time, and you are faced with another double-digit price hike. Sound familiar? If you're not getting the right advice, it's nearly impossible to keep your health insurance costs flat in NY.
HMO, PPO, Point-of-Service, or High Deductible Health Plan — which is best for your business? Ask our team of licensed NY professionals to present some new health plan options for your company. Get access to group health insurance from leading regional and national carriers, compare costs and coverage against your current plan and see if we can find you a better health plan for less money.
Many NY business owners think they cannot afford health insurance for their employees. The fact is, the employer pays part of the cost, and the employee pays the remainder with pre-tax deductions from their paychecks.
If you don't offer a group plan at work and your employees must purchase individual plans outside of work, the costs are much higher, and the coverage is far worse. Pre-tax deductions from wages mean your company wins, too. Your company saves the 7.65% matching FICA expense, which will offset some of the employer's cost for the health insurance. If you get the right plan and structure the employee's contributions the right way, offering health insurance may cost a lot less than you think.
Ever terminate an employee and forget to stop paying their benefits? Baron will set up automatic email notifications for terminated employees that go directly to your benefits broker. These alerts notify your broker to remove terminated employees from your benefit plans. This way, nothing falls through the cracks, and you won't waste thousands of dollars paying for health insurance for terminated employees and their families.
Concerned you're losing money because your payroll deductions for employee benefits are wrong? Every year, your health insurance premiums go up, and so should the amount of your employee's payroll deductions. Is this being done timely and accurately now? Let Baron help administer your employee benefit plans, so you always deduct the correct amounts from your employees' paychecks.
Do your employees have any idea how much you're spending on their health insurance plans? Probably not, and if they did, they might be shocked and appreciative. Let Baron remind your employees and show the amounts you are paying on the employee's pay statement. In New York, it's a significant number, and it's a big part of their overall compensation.
What happens now when employees have deductions scheduled for benefits and don't get paid? Is anyone going back and ensuring you're collecting the employee's entire portion of their benefit costs? Baron's system can automatically accrue these missing deductions and make sure you collect these back payments from employee's future paychecks.
Purchasing group health insurance in NY is more expensive and complicated than ever before. The plans, participation rules, and regulations change too quickly for insurance brokers who dabble in group health insurance to keep up. That's why you need an expert — someone who handles group health insurance in NY alone.
HMO, PPO, Point-of-Service, or High Deductible Health Plan — which is best for your business? Consult with our team of trusted, top-rated group health insurance brokers to find the best plans for your company.
Are you interested in adding a dental plan? We can do that.
Have AFLAC or supplemental benefits now? Baron will make sure you're not paying these invoices from your company's bank account. Instead, they get paid with employee payroll deductions, so there are no shortages, reconciliation, or administration.
Flexible spending plans are very popular and allow your employees to deduct monies pre-tax for medical, child-care, or caring for a senior. Let Baron add this for you.
For some employers, transit/commuter plans are required now by New York law. Baron can help you comply with this law.
Need employee Health Savings Accounts because you have a High Deductible Health Plan? We can set that up.
Premium Only Plans allow employees to pay most insurance premiums on a pre-tax basis. Ask us to review and make sure you comply.
Need assistance managing COBRA coverage for terminated employees? We have a turn-key solution.