At Genesis Health, we’ve been on your side of the desk. We know what it’s like to try to do what’s best for your employees, while attempting to manage cash flow at the same time. It’s tough. Sometimes it seems impossible. The cost of doing business has never been higher while economic conditions create even more financial pressure. Many businesses spend more on their group health plans than any other part of their overhead. Until now, the only alternatives to lowering employee health insurance expenses have been to strip out benefits, increase deductibles or ask employees to share more of the costs. A Genesis@Work defined contribution health plan provides:
- Tax Savings
The amounts paid out of the plan are tax free. And, if the amount you reimburse the employee isn’t enough to cover all of the monthly premium, employee contributions to 125 Plans are also deducted on a pre-tax basis. Give your employees a raise compliments of the IRS and reduce your payroll taxes simultaneously.
- Premium Savings
Multiply what you’re currently spending every month on your group plan by 30%. What did you come up with? $10,000? $20,000? $30,000? More? As group plans become unsustainable, your Genesis@Work plan offers you real relief in the form of real, spendable dollars now. Period. Do the math.
- Administrative Eases
No more group COBRA hassles. No claims headaches. Get out of the insurance business and get back to your core competencies. Put Genesis Health to work with a Genesis@Work benefit plan.
Sound Too Good to Be True?
Usually, at this point, most employers ask how this can be done. This sounds to good to be true. Business owners often ask us, “What’s the biggest problem converting to a Genesis@Work plan?” The answer is always one word…CHANGE! Helping employers realize new-found revenues, while dramatically increasing the benefits they offer employees, takes hard work and clear communication on the part of Genesis Health and you. Some employees will feel uneasy about the change and perhaps even resist. With over a decade of experience implementing new health plans for business owners, we have found employees and employers alike greatly prefer their new Genesis@Work health plan over their old one. Hands down…