Voluntary Insurance Benefits
Changing health care regulations and rising costs are creating benefit gaps and knowledge gaps. To help you and your employees with these issues, we've partnered with Colonial Life & Accident Insurance Company. At no direct cost to your business, Colonial Life can help you save time, fills gaps and add value to your benefits program.
Imagine the time and resources you could save with:
- Fewer questions and hours spent educating employees about their benefits
- Better-informed and -educated employees (which means a greater appreciation for their benefits and you)
- Better-educated health care consumers (which can save costs through use of generics, saving the emergency room for emergencies, free health screenings, self-examination, living a healthier lifestyle, etc)
- Less financial risk for employees (voluntary benefits help fill the gaps in employees medical plans and provide disability and life insurance protection as well)
- Increased employee satisfaction and retention (which means being able to attract and retain top talent)
- Free access to CCH HRAnswers Now, a complete human resources library at your fingertips.
Special underwriting exceptions for Master Builder Association member firms only
- Minimum account size of two eligible employees: Particularly important to small builders and remodelers who would like access to our individual products that are sold in a group setting. Gives smaller companies same access to benefits as large companies.
- Special disability rate for builders/remodelers: Other than medical insurance, disability protection is the most important coverage a person can have. Builders and remodelers under the Colonial Life-MBA Select Program will receive the "AA" rate, which means a 14 percent discount on the cost of disability coverage. See savings example:
Disability Without the Select Program With the Select Program Savings $2,000/month, 0/30 waiting period, 12-month benefit $64 in monthly premium $55 in monthly premium 14 percent - Special disability rate for high-risk industries: Employers in the industries below, which are classified as higher-risk industries, will receive an "A" rate, which means a 15 percent discount on disability coverage and access to disability coverage for firms that typically may not qualify for Colonial Life's disability coverage. See savings example
Construction-related industries that would use this exception include:Disability Without the Select Program With the Select Program Savings $2,000/month, 0/30 waiting period, 12-month benefit $74 in monthly premiums $64 in monthly premiums 15 percent
Building Maintenance
Planing Mills
Building Wrecking
Plywood Manufacturers
Exterior Building Cleaning
Sandblasters
Hardwood, Veneer & Plywood
Sawmills
Hazardous Waste Disposal
Security Guards
Janitorial Services
Window Cleaning·Millwork Manufacturers
Wood preserving/products mfg. - Special "guaranteed issue" exception with Medical Bridge 3000: Employers with 10 or more employees and have a minimum of 10 employees apply for Medical Bridge 3000 (or 15 percent participation, whichever is greater) will qualify for guaranteed issue (GIize=). GI means Colonial Life will wave medical underwriting for employees who apply this product.
Colonial Life's Enrollment Services
Colonial Life benefits counselors come to your worksite and spend one-to-one time meeting with each employee and enrolling them through Colonial Life's own enrollment technology. Employees have the chance to confidentially review their current benefits, consider new options and, most importantly, see how their choices will affect their paycheck.
Colonial Life's benefit counselors can also capture simple changes, such as an employee's new address or dependent changes.
Colonial Life's Benefits Counseling Services
Through their experienced benefits counselors, Colonial Life helps employees better understand and appreciate the value of their employer-provided benefits. They provide the following benefits education services at no direct cost to employers:
- One-to-one benefits counseling for the total benefits program cor"2">e and voluntary benefits to help employees understand and appreciate their benefits and to help guide them through the decision-making process.
- Group meetings to give employees a full overview of their employer's entire benefits program and to help better prepare employees for individual enrollment sessions.
- Personal salary illustrations that outline employees' benefits selections and how each affects their paychecks, ensuring they know what to expect when the first deductions are made.
- Benefits statements for a detailed overview of employer-provided benefits and their monetary value to help employees understand the true value of their "hidden paychecks."
- Election forms for a detailed accounting of each employee's selections and contributions. Also provide plan administrators a concise summary of payroll elections for easy data input and employee records.
Colonial Life's Voluntary Benefits
Personal insurance products from Colonial Life offer a broad range of benefit options, and many can help combat the rising costs of health care. If an employee or covered family member suffers a covered accident or sickness, most Colonial Life plans pay benefits directly to the insured regardless of benefits that person may receive from other insurance companies.
Hospital confinement indemnity, critical illness, cancer and accident insurance help fill gaps in other medical benefits. help fill gaps in other medical benefits. These policies also include health screening benefits to encourage early detection of specified illnesses a k"2">ey factor in recovery. For additional financial protection, employees may also apply for Colonial Life's disability insurance and life insurance.
Find Out More
Luanne Davis at (509) 438-2228 or by e-mail at luann.davis@coloniallife.comYou may also visit Colonial Life at www.coloniallife.com and www.benefitsguys.com.