We offer small business owners the same advantages that large company CEO’s have at their disposal. We provide you with a full benefits department. You no longer have to be solely responsible for any decision that you make. We save you time by putting all of your options in front of you and making a recommendation based on our experience. We are up to date on all the ACA (Affordable Care Act) requirements and work to customize a plan just for you.
Each group is reviewed to identify their unique situation and benefit needs. Our business model allows us to bring more options and provide ways to reduce your annual cost, while still maintaining control and coverage of your plan. It is quick and easy to get a quote and see what options are available.
GMS offers a group healthcare plan that is not available anywhere else. Through our plan we provide more control, greater flexibility, and access to reporting to better understand and maintain cost year after year.
You don't have to, but GMS can provide more options to reduce cost with our group healthcare plan; or we can administer your existing coverage to provide easy access for new hires and automatic payroll deductions.
We can quote many major carriers for medical, dental, vision, and disability options. Working with GMS also allows access to our group healthcare and ancillary plans that small employers typically cannot access due to size. We have been very successful moving businesses to our platform which provides long term solutions to healthcare cost options for smaller groups.
No. Your premiums are a separate cost just like they are for you currently. However, with our business model, we can bring more options that provide ways to reduce costs, have more flexibility, and have more control of your plan.
Yes. We have a full benefits administration department. We can offer individual plans and also have access to some employee paid programs that smaller companies typically cannot get on their own. This could be a benefit to some of your regular staff that might need help regarding their own insurance options.
Yes, your GMS health benefit specialist will work together with your employees to teach them about the health benefits your company provides. The specialist will also work to educate employees about more proactive health choices to help keep healthcare cost low, for both the employee and employer.
Yes, through true economies of scale your employees will have access to richer plans and more controlled costs; continued premiums should be lower than healthcare options available to you if your group was on a standalone plan.
An MEP 401(k) is different than a traditional 401(k) plan. MEP stands for multiple employer plan, and it shifts fiduciary responsibility from you to GMS. There are many other benefits of an MEP 401(k), including:
- Annual and mid-year nondiscrimination testing
- Employee eligibility tracking
- Distributing processing
- Form 5500 filing
- Contribution limit tracking
- Participant statements
- Compliance and legislative supervision
- Loan Processing
- Audit costs
No. That is one of the greatest benefits of take advantage of our 401(k) plan. We take complete fiduciary responsibility.
No, and that is just one of the reasons our 401(k) is a great option.
Yes, they have full control of where they invest and we can even have our financial advisors meet with them to help with these decisions.
Yes. You will be responsible for making the payments and any testing requirements on your own 401(k) and IRA account. With GMS’ multiple-employer 401(k), we are responsible for these duties.
We have a Wellness Coordinator on staff that can meet and consult with you on an individual basis. We can tailor a wellness program specific to your needs. We can also help companies take advantage of certain tax credits that are offered to employers that have wellness plans.
It is up to the individual employer, but we recommend using the PTO model, as opposed to vacation/sick days. We make suggestions and then help guide you on what would work best for your employees.
Your personal account manager will work with you to design and write vacation, PTO, sick time, and bereavement polices to cover both you and your employees.
Yes, we generate and send the necessary COBRA letter to your former employees. This is administered through GMS at no additional cost to you.
You and your employees will have access to a dedicated healthcare team. If you have questions, you will know exactly who to contact.
Yes. We do have an Employee Assistance Program (EAP) that cost $2.35 per employee. It is available 24/7 for the employees of the clients that participate.
Both accounts provide a pre-tax contribution option through payroll to be used towards your healthcare claims, copays, dental, vision, and prescriptions.
An HSA is only available with a High Deductible Health Plan; this account has an annual maximum that can be contributed, but it does not have a lifetime maximum and all unused funds roll over each year.
An FSA is available for medical expenses and dependent care expenses. The annual limits are set by your company and the funds are only available for a 12-month period. Any unused funds are forfeited at the end of your 12-month period.