Your community association's employee compensation
and benefits package may be the deciding factor for attracting and retaining potential
employees. And it's not just the money. To make your community association competitive
and attractive to job candidates, and to retain current employees, you have to
offer an exceptional total benefits package. That makes it a very important part
of your business planning and management process if you hope to hire and keep
When offering benefits, you must be aware of COBRA regulations.
Do you realize that COBRA benefits are offered to firms that have 20 or more full
time/part time employees, and that have maintained this number of employees for
at least 50 percent of its typical business day in the previous calendar year?
Furthermore, do you realize that since 2004, you must provide an initial COBRA
notification when a new employee is hired?
What are some of the benefits
we should consider?
To be competitive when hiring, and to retain current
employees, community asscdir should offer at least health, dental, life,
and disability insurance. In addition, your association may wish to consider offering
prescription drug coverage, a vision care plan, a pension plan, long-term care
insurance, and flexible spending accounts.
What is the trend in insurance?
Health Maintenance Organizations (HMOs) are still very popular, today many insurance
carriers are going back to what traditional insurance used to be-a high deductible
indemnity plan with a Preferred Provider Organization (PPO) overlay. Some employers
have found this as an affordable alternative to the traditional low copay and
deductible HMO and PPO plans. Most employers have found that the savings in premiums
and flexibility that are offered with these types of arrangements allow them to
offer additional benefits to employees that were once too costly.
an insurance broker help?
Because of the diversity of plans available today,
it is important to have a knowledgeable partner who can analyze all relevant factors
and make informed, prudent recommendations. Your association should look for a
broker who has experience in human resources and workplace solutions that support
the entire employee life cycle, from recruitment to post retirement.
broker your association chooses should know the industry and plan options available
for small and mid-size employers. He should work closely with your association
and the carriers to provide competitively priced plan designs. A good broker will
know which insurers or administrators to seek for each benefit plan offered and
will work closely with your association to understand your benefit plan objectives
and your budget requirements. In addition, a broker can be a tremendous help in
assisting you with claims and billing issues that may arise, and he can conduct
employee benefits meetings.
Where should I go for more information?
you have any questions or need further information, please contact Bruce Christiansen,
CLU (703-205-8713 or Bruce.Christiansen@usi.biz)
or Cindy Poinelli, HIA (703-205-8723 or Cindy.Poinelli@usi.biz).
How does your current broker compare?
We provide access to virtually all insurance and administration
In addition to our own talented
professionals and specialized value-added services, we have a wealth of resources
available to us through several national affiliations.
will develop a customized strategic plan for you that defines objectives and outlines
the actions needed to fulfill those objectives. Our strategic planning services
ensure an organized, complete approach to fulfilling your benefits needs.
We pride ourselves on the level of knowledge and service we bring
to our clients. All of our clients are assigned a team of specialists dedicated
to serving their needs. Each client accesses our team through a single point of
contact, making working with us seamless and easy.
have more than 44 years of proven dedication and commitment to excellence in our
service to the business community.
We use leading-edge
technology to provide our customers with the latest data analysis, legislative,
communication, and human resources administration tools.
needed, we employ the services of professional actuaries to assist with calculations
critical to your employee benefits plans.
employee claim data from your carrier, our internet-based Decision Master®
Warehouse system analyzes your data and shows how and where to adjust your plan
design to save money. We can even model recommended changes to show you the potential
Our exclusive Legislative Brief publication
summarizes recent federal legislative developments in insurance and employee benefits.
All of our clients receive access to a personalized web site call MyWave Portal.
The site is devoted to helping you with plan administration, legislative compliance,
employee communication, and more.
with MyWaveHR, our Legislative Guides provide comprehensive information about
federal legislation such as COBRA, HIPAA, HIPAA Privacy, FMLA, and Section 125.
Through MyWaveHR, we can assist you with all phases of employee
communication, from employee meetings to payroll stuffers and informative brochures
about employee benefits and wellness.
Human Resources Tools
is available to you exclusively from USI. This web-based tool is a complete employee
communication system that helps you improve communication, increase productivity,
streamline processes, and save money for your human resources department.
Through arrangements with two leading pharmacy benefits
managers, we have access to national pharmacy networks, significant discounts,
pharmacy benefits modeling tools, and more.
have experienced and highly knowledgeable consultants who can help you with this
growing and important area of employee benefits.
partnering with USI, you gain access to professionals from all over the country
through the Community section on the MyWave Portal. An answer to a problem you
have is just an email away. As an example, one client writes, "We just recently
implemented a premium only cafeteria plan. Can anyone tell me how this will report
on the W-2s?" This question was answered quickly, saving them time and resources.