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JIA Brokerage Services
Independent Insurance Broker
Hawley Building
1231-B State Street, Santa Barbara, CA 93101
Phone: (805) 962-2277 Toll Free: (888) 592-2277
Fax: (805) 962-9928
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Business Insurance Overview
Business Owners need
certain types of Insurances to operate their business and be competitive
protecting, keeping and attracting employees.
Each business needs is different and there are many product types to
consider. Here is a brief Guideline when
considering Employee Benefit Insurance Plans for your business.
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Category
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Employee Benefit Plans
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Basic
Business Plans
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Ø
Workers
Compensation (State required)
Ø
General
Liability
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Basic
Benefit Plans
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q
Medical Benefit
Plans
q
Section 125;
POP (Premium Only Plan provides tax deduction for employee contributions)
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Supplemental
Benefit Plans
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q
Dental Benefit
Plans
q
Life Coverage
q
Vision Coverage
q
Disability
Coverage
q
Section 125; FSA
(Flexible Savings Accounts provides pretax contributions for future
benefits)
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Retirement Plans
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q
IRA,
Simple-IRA, SEPP, 401K…
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Advance
Benefit Plans
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q
Executive
Benefits
q
Qualified and
Non-Qualified Benefit Plans
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Developmental
Benefit Plans
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q
HSA = Health
Savings Accounts
q
HRA = Health
Reimbursement Accounts
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Benefit Administration
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q
COBRA,
CAL-COBRA, HIPAA (terminated employees
have benefit extension rights)
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Some considerations when selecting Multiple Benefit Plans
- Multiple
plans with the same Health Insurance Carrier may offer premium discounts.
- Not all
dominant Health Insurance Carriers have competitive supplemental
plans.
- Supplemental
plans with a different Insurance Carrier may meet benefit and cost
objectives.
Comparison for the Best Solution
- Basic Plans
> first select the core benefits that are the most competitive by
objective.
- Progressive
Plans > second select the supplement plans that are the most
competitive by objectives.
- Comparing
Plans > select the combination of benefit plans that meet all
objectives, such as multiple plan discounts either with one or more
insurance carriers.
Just click on the TAB related to the
Product Information you are interested in.
Please feel free to contact us for more
information or questions
at our office by phone or e-mail.
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