In spite of a rapidly changing healthcare environment, employers remain the reliable link to health benefits for most Americans. As the burden on business owners increases, we continue to help our clients find meaningful, yet affordable solutions. Here are a few options that may help as you look for new and better ways to retain and attract valued employees.

Small Group Self-Funding. For decades, large employers have had many alternatives available to them for the financing and design of their employee benefit plans. Smaller employers – those with as few as 25 employees – have historically been limited to fully insured plans, few plan design options and no real opportunity to control premium costs other than shifting a greater percentage of the cost to plan participants. Today, a great number of small businesses are using small group self-funding, sometimes referred to as level funding, to regain control of health plan costs and create an opportunity for savings.

Level funding offers the flexibility of partial self-funding, but retains the predictability of fixed monthly payments, common to fully insured arrangements. Each month, the employer pays a predetermined amount to cover anticipated claims, along with fixed expenses. At the end of the plan year, the employer may receive a portion of the unused claim funds back. If actual expenses are greater than the amount that you fund, stop-loss insurance, which we help secure, covers the excess claim costs. Fixed expenses, including stop-loss premiums and administration fees, are not refundable.

Executive Benefits
In today’s highly competitive business environment, success hinges on the ability to recruit, retain and reward valued employees. And when it comes to senior executives, the stakes are even higher. When designing executive benefit plans, Ganim Financial takes these things into consideration. Our skilled professionals take the time to understand your objectives, your organizational culture and the competitive environment in which you operate. Then we develop the solution that meets your needs. Some of the options that may be appropriate for your business include…

• Salary Continuation Plans
• Selective Incentive Plans
• Executive Long-Term Care
• Restricted Executive Bonus Plans (REBA)
• 401(k) Alternative Plans (401kap)
• Executive Disability Insurance
• Executive Retirement Plans (SERP)

While the options vary widely, you can count on Ganim Financial to provide the insight and experience needed to determine if executive benefit options can benefit your organization.

This is an excerpt from an article that was featured in the 2017-2018 Ganim Financial Annual Report. Click below to view the entire report here.

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