The death of a family provider can mean that a family will not only find itself facing the loss of a loved one, but also the loss of financial security. With Group Term Life nsurance, an employee can achieve peace of mind by giving their family the security they can depend on.
| Group Term Life – |
Employer-paid |
| Voluntary Group Term – |
Employee-paid |
| Permanent Family Life – |
More than 50% of US families have no life insurance coverage other than group term, and the vast majority has no coverage on their dependents at all. Unfortunately, life insurance is not a product that can be obtained at the time the need arises; it must be planned for in advance. Since few people get around to making such plans, they end up depending on their group insurance, hoping that it will take care of their emergency requirements. Most people find out their coverage is woefully inadequate at their time of greatest need. Interest-sensitive Whole Life and Universal Life provide permanent life insurance protection for employees and their families, while building cash value for the future. |
- Having a serious illness or accident is tough. But if a person is unable to work as a result, things can get even tougher. Without a paycheck, most people find it impossible to pay their bills - housing, food, transportation, care for children, etc. - for more than a few weeks. Most people never expect an injury or illness to prevent them from working. But it does happen (Click to see statistics) and when it does, we can be there to help. Short term disability coverage provides for payment of a weekly disability benefit to replace a portion of earnings lost by employees who are disabled because of an off-the-job injury or sickness and are unable to work. Benefit payments begin the first day following completion of the elimination period and continue during disability up to the maximum duration provided by the plan.
| Short Term Disability – |
Elimination Periods: 0 days/3 days/7 days/ 14 days/30 days
Benefit Duration: 13 weeks/26 weeks/52 weeks |
| Long Term Disability – |
Elimination Periods: 90 days/180 days/365 days
Benefit Duration: 2 year/5 year/to age 65 |
One worker in seven will be disabled for five years or more prior to age 65. That number increases to nearly one in five in the age group between 35 and 65. (1)
Nearly one in every three Americans will be disabled for three months or more before they
reach age 65. (2)
Disability is seven times more likely to occur than death during a working career. (3)
In 1990, 14.2 million working-age Americans were limited in the amount of work they could do - that is, they had some disability interfering with their work. (4)
48% of all home mortgage foreclosures are caused by disability. (5)
| (1) 1987 Commissioners Group Disability Table, Society of Actuaries |
| (2) 1987 Commissioners Group Disability Table, Society of Actuaries |
| (3) Small Business Report |
| (4) Disabilities statistics - Abstract ( No. 2, Dec., 1991) produced by the Institute for Health and Aging. School of Nursing, University of California |
| (5) U.S. Government Housing and Home Finance Agency |
Group Health Insurance today is more than just Major Medical. It now includes Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), High Deductible Health Plans
(HDHP), Consumer Driven Health Plans (CDHP), Prescription Drug Coverage, Fitness plans, Health and Wellness benefits. We will help you sort through the many options and find the plan(s) that is right for your company.
Dental health is an important factor in the body's overall health. Regular oral exams and cleanings help reduce gum disease, tooth decay, and promote a healthier body. Healthier employees are more productive employees.
Annual eye exams and vision correction can impact an employee's long-term health in a positive way. Healthy eyes make employees more productive and reduce accuracy errors.
An Accident Insurance plan is a great supplement to a group major medical plan. Major medical plans may cover only routine expenses for accidents, leaving costs such as co-pays, transportation, physical therapy, emergency room and many other expenses wholly or partially uncovered. By offering Accident Insurance to your employees they no longer have to be afraid of the financial consequences of an unexpected
accidental injury. (Click to see statistics)
1 out of 12 people each year seek medical attention for an injury
The average household cost associated with lost wages, medical and other injury-related expenses is $5,700
Over 19.4 million disabling injuries occur in the United States each year.
Accidents are the leading cause of death of persons under age 38
There are over 39 million visits each year to hospital emergency rooms for injuries
Medical coverage will help your employees with a large portion of the medical expenses associated with the treatment of critical illnesses, but, what about the out-of-pocket medical expenses? What about the expenses associated with life change following a critical illness? Consider an employee who suffers a stroke that leaves him paralyzed. Will medical insurance, life insurance or disability insurance pay for the construction of a wheelchair access ramp on the employee's home? What about job retraining? Critical Illness Insurance provides protection for employees and their family against the financial challenges associated with surviving a critical illness, allowing them to make recovery their life’s priority.
More than 46 million Americans are without basic health insurance. Many of them are employed in seasonal or part-time jobs or work for employers who can no longer afford to provide major medical insurance. Now there is a medical insurance policy that can cover ALL your employees, even those who work part-time or seasonally. A Limited Benefit Medical Plan is a good alternative to traditional full-coverage plans in that it can provide coverage for basic and preventive services, prescriptions, emergency room treatment, ambulance, and hospital expenses at a fraction of the cost of traditional major medical insurance.
With a Limited Benefit Medical Plan employers can:
- Offer medical coverage to every eligible employee with no deductibles, no required networks and no pre-existing condition limitations.
- Choose your level of contribution, from 0% to 100%.
- Let EBM handle all administration and claims at no charge.
EBM has partnered with a Long Term Care Specialist who has developed hundreds of successful plans for people who want to protect their assets and be assured of receiving quality care when they need it The majority of those caring for an aging loved one work full or part-time outside the home. Annually, businesses lose an estimated $3,412 per employee due to lost productivity directly related to the stress of elder care. Companies who offer Long Term Care Insurance realize the direct benefits of increased productivity, higher morale, lower absenteeism, and lower employee stress.
| 1 in 4 people will need long term care at some point in their life. |
| 39% of people needing long term care are working age adults, ages 18-64. |
| The average length of a nursing home stay is almost 3 years. Home care duration is an average of 4.5 years. |
| The average annual cost of a nursing facility is almost $80,000 and that is expected to triple over the next 20 years. |
There are 2 types of FSA, Health FSA and Dependent Care FSA. Both plans allow employees to set aside dollars, on a pre-determined basis, to pay for eligible expenses pre-tax. Employees save state and federal income tax and FICA. Employers save matching FICA taxes.
– EBM can take the burden of COBRA administration off your hands. We will handle keeping up with COBRA notifications, billing, collecting and reporting.
401(k), Roth 401(k), Safe Harbor 401(k), Simple 401(k) and Simple Roth 401(k), Profit Sharing, Money Purchase, Defined Benefit, SEP, IRA, Simple IRA, Simple Roth IRA, 457(b), 403(b)/TSA, Traditional IRA, Roth IRA.
EBM will help you navigate the maze of the many retirement plans available and create a plan that best fits your needs, assist you in evaluating numerous competitive quotes and help you select the investment options that meet the long term needs of your employees. EBM provides ongoing educational support for your employees and will assist you with your fiduciary responsibilities and periodically review your investment options. In addition, EBM will assist you in crafting an Investment Policy Statement for your selected plan.
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