Strengthen Your Business and the Well-Being of your Employees
To challenge rising premiums and other healthcare expenditures, Southerland & Associates has developed solutions that help employers pinpoint and reduce cost drivers, while simultaneously enhancing the benefit package for employees. However, with more than 30 years of experience, we know each client is different and has unique needs. We will partner with you to find the best coverage and strategies that will keep you compliant while saving you money, in addition to providing benefits that adequately protect the overall health of your employees. Our solutions are geared to:
Simplify Enrollment
Streamline HR
Maintain Compliance
Attract & Retain Employees
Create a Productive Workforce
Give Employees More Options
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Call (512) 329-0108 or fill out our Group Request Form below
Overview of Services
We provide many services related to helping you control costs and keep your benefit programs running smoothly.
We’ll leverage our long-term relationships with our carriers to get you the best rates and services.
We’ll handle the application, underwriting process, and follow through with effective plan implementation. We also help with new hires, terminations and any billing/carrier issues that arise during the year.
We provide effective employee communication, education, and advocacy. We conduct in person enrollment meetings and are available by phone to further assist employees with benefit questions throughout the year.
We provide several cost-saving strategies and services proven to save our clients time and money. Please visit our pages on Wellness Benefits, Voluntary Benefits, and Compliance Services for more information.
Our Benefit Plans
Please click the buttons below for details on each benefit product.
We would love to meet with you and your company to evaluate your needs.
Give us a call at (512) 329-0108 or contact us below. We can tailor coverage to fit any need.
Traditional Group Health Plans
A Health Maintenance Organization (HMO)
An HMO group health plan requires group members to obtain their health care services from doctors and hospitals affiliated with the HMO. Thus, members are required to designate a primary care physician within the HMO. Then, the primary care physician treats and directs health care decisions. In addition, the primary care physician coordinates referrals to specialties within the HMO network. HMOs offer access to a comprehensive package of covered health care services in return for a prepaid monthly amount (or “premium”). Accordingly, most HMOs charge a small co-payment depending upon the type of service provided.
Preferred Provider Organization (PPO)
You you belong to a PPO gropu health plan, you will save the most money on healthcare if they use providers within their network. Thus, if providers outside of the network are used, it is possible that those services may not be covered at all. Deductibles must be met on this plan before some services will be covered. PPOs require a co-pay for physician visits.
Health Savings Account (HSA)
An HSA combines a high deductible, lower premium group health insurance plan (PPO) with a savings account. Both employer and employee can contribute, tax-free, to the savings account. Then, the account is used to help fund the deductible and other qualified medical expenses. Once the deductible is met, the insurance starts paying.
Health Reimbursement Account (HRA)
An HRA combines high deductible,low premium health insurance plan with a tax favored savings account. Employers contribute to the savings account. Then, the account can be used to fund co-pays and other qualified expenses, prior to the deductible being met.
Single, Dual or Triple Option Plans offer eligible employees a choice between several different types of plans as described above.
Through our thorough analysis and plan design process, we can help you determine which traditional health plan is right for your company.
Self Funded Health Plans
When employers self-fund their own group health plan, they will benefit from a significant savings in the overall cost of their benefit programs. Examples of savings may be in premiums, increased cash flow, tax advantages in addition to having more control over the benefits that the plan offers. In the past, self-funding was not available to small employers. However, today self-insured group health plans are considered to be good options for both small and large employers.
The experienced benefit consultants at Southerland & Associates specialize in helping employers set up and maintain self-funded health plans. Accordingly, we would be happy to give you a no cost analysis to determine if a self-funded health plan option is right for your company.
How self funding works.
A self-funded group health plan requires the employer to become the insurer. Most often, employers will partner with a PPO to provide services for the plan. Then, a third party administrator (a TPA) is engaged to handle claims and processing. Self-insured employers run the risk of large catastrophic claims. As a result, they will purchase stop-loss insurance to protect them in such an event. Even with the additional expense of stop-loss insurance, employers can enjoy saving thousands in premiums and other advantages.
Premium Only Plans (POPS)
How does a POP work?
Employees elect a set amount of pre-tax dollars to be deducted from each payroll. The employee purchases an individual health insurance policy from a carrier of their choice. Accordingly, the employee is responsible responsible for paying the monthly premiums directly to the carrier. The employee is then reimbursed by the employer for the monthly premium with the pre-taxed dollars. After a thorough plan analysis, we can help you determine if a POP program would benefit you and your employees.
Shared Funding Health Plans
Here’s how it works.
An employer will select any of the fully insured plans that the carrier offers. And, rates will be determined by the group’s claim history. Then, stop-loss insurance is added to protect against catastrophic claims. Just like with an insured plan, the carrier will handle the administration of the plan. This includes processing claims, in addition to offering members online access to their benefits.
Advantages of Shared Funding
The premiums for shared funding plans are generally much lower than fully insured plans. That is because the employer shares some of the risk. Additionally, an employer may save even more by implementing wellness programs into the benefit programs. Our thorough plan analysis will help you determine if shared-funding is right for your company.
Group Dental and Vision Plans
Dental Plans
Studies have shown that regular dental exams help employees to stay healthier and more productive in the work place. Additionally, you can detect serious underlying conditions such as heart disease and diabetes, through regular dental exams. In fact, the National Association of Dental Plans and the Centers for Disease Control have performed studies that show that employees with dental insurance have better attitudes and are less likely to suffer from depression, a common condition in today’s fast-paced world.
Dental insurance offers a variety of diagnostic, preventative care and corrective services. This includes cleanings, exams, x-rays, fillings, root canals, orthodontia for children, and emergency care while traveling.
Vision Plans
Similar to dental policies, vision plans are inexpensive and save employees money on routine eye care. Examples of care include exams, eyeglass frames and lenses, contacts, and even discounts on procedures like LASIK. Also, monitoring your eye health with regular exams helps to prevent serious eye diseases like glaucoma and cataracts. In addition, regular eye exams help to detect early stages of diabetes, high blood pressure, and high cholesterol.
Group Life Insurance
Employees are more productive when they feel secure that their loved ones will be taken care of, in the event of illness or an untimely death. Thus, you should consider life insurance a key part of the benefit package for your employees. And, also a valuable tool in attracting top talent.
Whether employer paid or voluntary, a good life insurance policy provides for an employee’s final expenses, taxes, and mortgage. Additionally, it may even pay for their children’s education.
Accordingly, Southerland & Associates can help employers protect their employees and their employees’ families with a variety of different life insurance products.
Permanent Life Insurance
This type of life insurance builds cash value which is sometimes used as collateral for loans, if needed. However, most employers only offer basic term life insurance (see below), but also offer permanent life insurance on a voluntary basis. Even so, employees appreciate the opportunity to widen their safety net.
Term Policy
This type of life insurance does not build cash value. However, it will pay a set amount to the named beneficiary upon the death of insured within the stated term. Additionally, some policies may also make payments upon terminal or critical illness.
Group Long Term Care Insurance
If someone requires long-term care, it is not just an emotional strain but a financial one as well. It could also impact an employee’s retirement savings and overall financial position..
Savvy employers know that access to additional resources can increase employee productivity when confronted with managing long-term care situations. Long-Term Care plans demonstrate to your current and prospective employees that your company cares about them. Thus, you also increase your ability to attract and retain the very best talent.
LTC plans provide benefits for care through nursing homes, assisted living centers, home health care and adult day care.
Employers can provide a base benefit while giving the employees the opportunity to buy up the policy. Thus, they can obtain the level of coverage that they need for their families.
Group Disability Insurance
Disability Insurance
National surveys have shown that Short Term Disability and Long Term Disability remain of high importance for most employees. Savvy employers attract and retain top talent by offering both STD and LTD insurance as part of the employer paid benefit package or as a voluntary (worksite) benefit. Here’s how Disability plans typically work.
Short Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), STD generally allows for income payments to the employee to begin after about a two-week waiting period and will continue to pay the employee until he/she recovers or maxes out the benefits–usually anywhere between one month to two years, depending on the policy.
Long Term Disability
During the time an employee is unable to work due to a qualifying disability (illness or injury), LTD generally allows for income payments to the employee to begin after about a 90-day waiting period. However, it could be much longer depending on the policy. The policy will pay the employee far longer than STD–for a few years, up to age 65, or even for life.
Flexible Spending Accounts (FSAs)
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Shop (Marketplace)
We suggest you use the Business Tax Calculator to find out if you qualify. Those who qualify will be able to purchase traditional group health plans (PPOs) through SHOP.
For more information, please call (512) 329-0108 or request a Group Quote above.