The Foster Group is a one-stop-shop for the benefits and insurance your employees want and need. We run the reports and offer you multiple quotes from various carriers to save you time and money.
We offer more than just insurance! Not only do we provide the right products at the right price, we deliver complete Benefit Communications to all of your employees. We work at building better relationships between employers and their employees through a comprehensive benefits communication program.
Benefits Communication: A Win-Win for Employees and Employers
Our Benefits Communication delivery plan includes:
- Group and individual employee meetings: We introduce the benefits program and highlight the benefits available. This can include the employer’s core benefits.
- Laptop computer presentations: We specifically outline the company’s existing benefits information and individual employee information (for the one-on-one meetings). This ensures that all employees receive consistent and updated information, even in multiple or remote locations.
- Personalized benefit statements: We create and provide you with a one-page snapshot of the company’s entire benefits package, including a line-by-line comparison of the costs to both the company and the employee. Employees can then see just how their benefit choices affect their bottom line: their paycheck.
Employee Benefits Coverage Descriptions
We help you choose which of the following types of group medical coverage plans is right for your company.
- Preferred Provider Organization (PPO): This coverage allows the individual to serve as a self-refer to any provider in the network. When using in-network providers, the higher level of benefit is received, as high as 90% after the deductible. Benefit level for non-network providers is usually 70 or 80%.
- Point of Service (POS): This coverage acts like an HMO but with in-network features. There is a gatekeeper (Primary Care Physician or PCP) for referrals to other in-network providers. Deductibles are usually for out-of-network care only. Co-insurance levels for in-network care are typically 90 or 100%.
- Health Maintenance Organization (HMO): This coverage utilizes Primary Care Physicians to direct all care. No benefits outside of HMO provider network are covered except in cases of true emergency.
- Indemnity: This is the traditional plan of coverage. The insured is free to use any doctor or facility.
Employers often choose among the following three types of plan features:
- Preventive care: Routine visits may be covered up to 100%. Small deductible may apply.
- Basic Services: Examples of basic services include fillings, restoration, extractions, and sealants.
- Major Services: Examples of major services include crowns, inlays, bridges, and periodontal services.
Disability insurance is offered by duration of disability. Employers may choose to offer one or both of the following different types of disability insurance to their employees:
- Short-Term: Usually covers 1st day accident, 8th day illness, and up to 26 weeks of disability. Weekly benefit is usually a flat amount.
- Long-Term: Normally covers after 60 or 90 day elimination period and replaces approximately 50 to 66% of the employee’s income.
Group life insurance typically covers employee for a flat amount or an amount equal to 1, 2 or 3 times his/her annual salary, at the employer’s discretion. Additional amounts can be purchased at an additional cost to the employee. Dependents may or may not be covered.
Group Accident / Hospital / Cancer Insurance
Accident Insurance – This coverage offers benefits for specific losses you may suffer in an accident including burns, dislocations and fractures.
Hospital Care Benefits – This coverage will help you with the hospital bills and expenses related to a covered accident.
Hospital Confinement Insurance – These benefits are paid as a lump sum per covered hospital confinement or outpatient surgery. Covered benefits often include co-payments,deductibles, or travel expenses to and from the hospital. Benefits are typically paid directly to the insured, unless specified otherwise.
Cancer and Critical Illness Insurance – This coverage allows the insured to take next steps after a critical diagnosis with comfort and reassurance. Benefits from a cancer or critical illness plan typically helps the insured with out-of-pocket expenses such as home health care, home or automobile modifications, everyday living expenses, and travel costs to and from treatment centers.
Contact us today to learn more about employee benefits or request a quote.