Employee Benefits for Small Companies | FrankCrum

Employee Benefits for Small Companies

Fortune 500 companies aren’t the only ones who can offer great benefits.

Helping firms of any size offer big-company benefits

A quality employee benefits offering is an important resource in attracting and keeping valued employees. As your trusted employer services partner, FrankCrum offers a full complement of solutions that will fit your budget and match your goals. Our flexible benefit plans allow employees to pay for health insurance and dental plans with pre-tax dollars. These are just some of the advantages that will boost the satisfaction of your employees.

FrankCrum provides guidance for your benefits planning and compliance, as well as benefits management services. Our services include reconciling bills and paying carriers, eligibility notifications for adding newly hired employees, processing employee enrollment, change, and termination requests with the carrier, and managing bill escalations, claims and service issues. FrankCrum’s knowledgeable team also handles COBRA administration and any other needed communications with the carriers.

Great benefits options from top carriers

With FrankCrum as your benefits partner, you can offer your employees the following options from top carriers they know and trust:

  • Health Insurance (multiple plans available)
  • Dental Plans (DHMO, PPO)
  • Vision Plan
  • MEC Plans
  • Voluntary Short Term Disability
  • Long Term Disability and Term Life Insurance
  • Voluntary Life Insurance (up to a maximum of $100,000)
  • Supplemental Insurance Plans (Accident, Cancer, Hospital)
  • 401(k) Retirement Plans (see details)
  • Flexible Spending Accounts (Medical Reimbursement and Dependent Care)
  • EAP
  • Auto, Home, and other Personal Lines
  • Entertainment Discounts
  • Credit Union
  • Pet Assure Discount Plan
  • Lifelock
  • Legal Services Plan



Available Benefits

Major Medical Health Insurance – Aetna

  • Available to employees working 30 hours or more per week
  • Choose from multiple ACA-compliant plans based on specific needs
  • Online access to health information, claims, and resources
  • Discounts on eye exams, glasses, contact lenses, weight loss programs, fitness memberships, exercise equipment, and hearing aids
  • Participants receive $10,000 term life and AD&D insurance

See more Aetna major medical details

All groups are subject to underwriting. Employee deductions are available on a pre-tax basis.
Minimum participation and employer contribution requirements apply.

Dental – MetLife

  • Available to employees working 30 hours or more per week
  • Multiple plans to select from with various coverage levels
  • Plans with no waiting period are available
  • Employee deductions available on a pre-tax basis
  • No employer participation or contribution required

Vision Plan – Vision Services Plan

  • Available to employees working 30 hours or more per week
  • VSP doctor eye exams are covered with no co-pay
  • Eyeglass Lenses are covered in full every 12 months
  • Frames $120 allowance toward frames every 24 months or a prescription contact lens allowance of $200 every 12 months
  • Average of 15% discount on Laser Correction procedures
  • 20% off unlimited pairs of prescription sunglasses within 12 months of last covered eye exam
  • Limited coverage for a non-VSP Providers
  • Coverage for dependents up to age 25
  • No employer contribution or participation required

Minimum Essential Coverage (MEC)

  • Available to applicable large employers needing a solution to avoid the ACA Employer Mandate pay or provide 4980H(a) penalty.
  • MEC plans offer employees 100% covered wellness services and immunizations. MEC helps the employer avoid the (a) penalty and helps the employee comply with the Individual Mandate.

Wellness Programs to Foster Good Health

  • Wellness and rewards programs (encourage employees to monitor their wellness through tools and incentives)
  • Smoking cessation programs
  • Health coaches
  • Health club partnerships and discounts

Short Term Disability – Lincoln Financial

  • Available to employees working 30 hours or more per week
  • Benefit based on wages and range from $200 – $500 weekly
  • No medical underwriting required
  • Benefits begin on the 14th day after disability and can extend up to 26 weeks • No employer participation or contribution required

Long Term Disability – Lincoln Financial

  • Available to employees working 30 hours or more per week in an eligible class • Maximum monthly benefit is 60% of salary up to $5,000
  • 5 year maximum benefit-elimination period of 180 days
  • Pre-existing conditions and benefit limitations may apply
  • No employer participation or contribution required

Term Life and AD&D Insurance – Lincoln Financial

  • Available to employees working 30 hours or more per week
  • Guaranteed issue of up to $100,000 in coverage for employees up to age 60 with no medical underwriting
  • Competitive group rates
  • Portable after 12 months of group coverage
  • No employer participation or contribution required

Group Supplemental Products – MetLife

  • Hospital Indemnity: Pays cash directly to participant for hospital/ICU admission/confinement
  • Accident: Pays cash directly to participant for accidental events and other medical services including dislocations, fractures, concussions, burns, ambulance rides, medical testing and physical therapy
  • Critical Illness: Pays cash directly to the insured for heart attack, stroke, heart transplant and other threatening conditions as defined in the policy
  • Legal Services Plan: Plan provides discounted legal services in the areas of real estate, family, traffic, consumer protection and more
  • Personal Lines Insurance: Policy types include auto, homeowner, personal excess liability, boat, condo, motor home, recreational vehicle and renter’s insurance
  • MetLife plans are available to employees working 30 hours or more per week and no employer contribution is required.

401(k) Retirement Savings Plan – Slavic

  • Available to employees working 30 hours or more per week
  • No employer set up costs
  • Plan documents and Form 5500 are handled by FrankCrum at no additional cost
  • Select from numerous investment options
  • Employees can defer up to 90% of their salary or the annual maximum on a pre-tax basis
  • Employers choose a contribution plan from four options
    • Match plan with up to 100% match of employee deferral
    • Non-match plan
    • Safe harbor non-elect plan
    • Safe harbor match plan with up to 4% match

See more 401(k) retirement savings plan details

Flexible Spending Accounts (FSA)

  • Available to employees working 30 hours or more per week
  • Tax advantage for reimbursement of qualified out-of-pocket medical and daycare expenses
  • Participants can set aside up to $2,500 for medical expense reimbursement and up to $5,000 per year (if married filing jointly or single parent) or $2,500 per year (if married filing separately) for dependent care reimbursement
  • No employer participation or contribution required

Employee Assistance Program (EAP)

  • Available to employees regardless of hours worked
  • In addition to face-to-face and telephone services, EAP Consultants, Inc. offers employees and their family members a number of convenient on-line services as part of the Employee Assistance Program. These services give them access to confidential and expert information on an unlimited basis, 24 hours per day
  • Provides employees with experienced licensed psychologists, licensed clinical social workers, licensed professional counselors, licensed marriage and family counselors, certified alcohol and drug counselors
  • Paid by the employer

Entertainment Discounts – TicketsAtWork

  • Available to employees regardless of hours worked
  • Employees and their family members receive discounts and special access to theme parks and attractions including the Walt Disney World® Resort, Universal Studios®, Las Vegas and New York City shows and performances, Disneyland®, SeaWorld®, Six Flags, and Cirque du Soleil! Check with TicketsAtWork.com for savings on car rental, hotels, tours, and attractions across the U.S. Save on movie tickets, sporting events, and other special events.

Corporate America Family Credit Union (CAFCU)

  • Available to employees regardless of hours worked
  • Established in 1939, serves over 65,000 members nationwide, more than 6,700 locations available and over 49,000 surcharge-free ATM’s
  • Online Membership Enrollment, Person2Person (P2P) powered by PayPalTM, Personal Financial Management Tool (PFM), Online Account Opening, Mobile DeposZip, iPhone/Droid Apps, Text Banking, Alert Center, eStatements,
  • Checking, Savings, Vehicle Loans, Mortgage Loans, Home Equity Loans, Visa® Credit Cards, Quick Cash Line of Credit, Signature Loans

PetAssure

  • Available to employees regardless of hours worked
  • Pet Assure is the nation’s largest Veterinary Discount Plan. For $7 a month, employees save 25% on all medical services provided by network veterinarians, including office visits, surgical procedures, x-rays, shots, and dental care.
  • Pet Assure members enjoy savings of 5-35% at thousands of participating merchants. Employees save on everyday basics such as: food, treats, medications, supplies, and more.
  • Pet Assure members receive a special Pet Assure Locator Service ID tag for every pet registered.

LifeLock

  • Available to employees regardless of hours worked
  • LifeLock offers a comprehensive protection against identity theft. As the industry leader, LifeLock provides peace of mind with proactive protection.
  • For as little as $2.13 a week, LifeLock service provides peace of mind knowing personal information is being monitored 24/7/365

Benefits Administration

Not only does FrankCrum help you administer your benefits plans, we also explore tailored solutions and options, not only for cost exposure, but also for employees’ utilization of benefits. We will work to find innovative ways to cut costs through options such as carrier incentive programs, alternate funding, and ACA compliant MEC plans. We provide proactive and ongoing guidance and support with the ever-changing ACA regulations. Keep in mind; we can consult on compliance planning, insurance premium reporting on W-2s, exchange notice forms, variable hour employee tracking, and more.