EMPLOYEE FLEXIBLE BENEFIT PLANS

EMPLOYERS PROVIDE THE COVERAGE THAT IS NEEDED WITHOUT EXTRA COST

What is the Advantage of Flexible Benefit Plans?

With flexible benefits, employees are able to choose the benefits they want / need and the level of coverage and cost that is best suited for them.

Flexible Benefit Plans:

Allow employees to select a plan and coverage with benefit options that are catered specifically to their needs and the needs of their family. Employees use credits that is allocated by the employer to purchase their extra health and dental benefits. Employees can choose their benefits to enhance coverage they need to best utilize their benefits and the employers resources to their life situations.

Benefit Customization is Now Possible

Employers are looking to customize their benefits to their employees needs.

A New Approach to Benefits

Extra benefit choice for healthcare, including medical, dental, and vision coverage with PHSP credits, paying the premiums.

Because wage increases aren’t keeping up with the increasing healthcare costs, people are spending more of their income on their health than ever before, with no evidence of slowing down.

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HOW DO FLEXIBLE BENEFIT PLANS WORK?

Flexible benefit plans provide employees with the ability to choose the benefits they want or need, and refrain from the ones they don’t want. An employer provides a number of benefits, and employees can choose which ones apply to them, creating a comprehensive benefits package tailored to their unique needs.

Flexible benefit plans often include health insurance, retirement benefits,  and reimbursement accounts. Employees can use their credits to pay for health or other family care, providing them stability in life. Flexible benefit expenses are paid with pre-tax income which lowers the taxable income of the employee and the expenses are a tax deductible expense.

Our products can work to help you build a benefits structure for your company that manages cost and supports your recruitment and retention aims.

EMPLOYER BENEFITS

  1. The employer controls the flexible benefit plans cost, setting the limits so there are no surprises.
  2. Flexible benefit plans are part of the Puhl / PHSP plan and are fully customizable.
  3. Employers receive a 100% business deduction.
  4. Improved employee happiness and awareness. 

FLEXIBLE SPENDING ACCOUNTS

Flexible Health Spending Account’s (HFSA) are savings accounts that are tax-free. The HFSA is established by the employer to assist employees and their dependents with their medical expenses and other benefits.

EMPLOYEE BENEFITS

  1. Employees choose the benefits they need without paying for the ones they don’t.
  2. Employees have full control of their plans.
  3. Benefits are received on a tax-free basis.
  4. Employees can carry over leftover benefit credits.
  5. Employees get premium benefits and premium coverage.

TRADITIONAL & HYBRID PLANS

Transitioning a benefits plan from a traditional plan to a flex plan can be a tedious process and can create a backlash from employees worried about the perceived loss of benefits. Puhl Employee Benefits  customizes our benefit plans around the needs of your organization and your employees. Contact us today for details on our flex / traditional benefit packages.