Significa Benefit Services offers products and services that allow our clients to offer a full range of employee benefits without managing multiple vendors and their invoices.

Group life insurance provides financial assistance to beneficiaries of deceased employees. If an employee dies from any cause while insured, group life insurance pays the coverage amount provided by the plan of benefits to the beneficiary or beneficiaries designated by the employee. Currently, Significa Benefit Services offers fully insured Life, AD&D and Disability products through various life carriers.

To obtain a quote for Life and AD&D coverage, you will need to provide the following information:

  • Full legal name of employer
  • Nature of business (SIC number)
  • Eligibility information
  • Life benefit amount
  • Classe(es), if applicable
  • Salary, if applicable

Many employees do not have the cash reserves to weather a period of temporary, non-occupational disability. Therefore, a self-funded short-term disability plan can be a valuable benefit. However, before assuming the financial risk for providing disability benefits, you need a customized plan design and plan management services tailored to control costs. Significa Benefit Services benefits specialists are attuned to the unique nature of disability plans. We will suggest a plan design that encourages employees to return to complete functionality quickly. From the beginning to the end of the disability period, our dedicated disability plan adjustors review medical necessity to establish the eligibility of the claim.

When considering how to improve employee morale, enhance retention and gain a competitive advantage in a challenging labor market, adding self-funded dental and/or vision benefits might be the solution. Costs are nominal and predictable.

Significa Benefit Services will develop a customized plan design with controllable coverage parameters set at levels that suit your benefit budget. If desired, access to a quality national, credentialed dental and vision PPO networks are available

Significa Benefit Services provides customized list and summary billing services, including rate setup, allocation and eligibility management for members and groups, by carrier or product. Services include reconciliation, audits and premium remittances.

Significa Benefit Services offers record keeping services to track, document and report fringe benefit allocations to comply with Service Contract Act (SCA) requirements for employers within the SCA-government contracting industry.

Our expertise in design and administration of cost-effective fringe benefit programs allows contractors to monitor and verify fringe reporting. Our in-house Chief Compliance Officer will customize benefits and ensure regulatory standards are met.

  • SCA audit assistance
  • Custom plan designs
  • Unbundled benefit approach
  • “Fixed and Average” cost fringe accounting
  • Recordkeeping and hour bank processes
  • Claims adjudication
  • Health and welfare trust management
  • Form 5500 services
  • Single platform web portal
  • Compliance reporting
  • Compliance testing
  • Member services

Since 1978 (other than during a temporary repeal in 1986), certain employee welfare benefit plans have been subject to the nondiscrimination requirements of Internal Revenue Code (Code). Plans subject to nondiscrimination testing include, but are not limited to, self-funded group health plans (including health reimbursement arrangements), health care flexible spending arrangement plans and dependent care flexible spending arrangement plans. Through a series of calculations performed on an employer's demographic data, plans must be tested annually to determine if they favor highly compensated and key employees with respect to eligibility, benefits or utilization. Under discriminatory plans, employers may be subject to fines and penalties and benefits provided to highly compensated employees become taxable.

Significa Benefit Services performs nondiscrimination testing for the following types of plans:

  • Cafeteria plans under Code Section 125,
  • Self-funded group health plans, health care flexible spending arrangement plans, and health reimbursement arrangements under Code Section 105(h), and
  • Dependent care flexible spending arrangement plans under Code Section 129.

If you are interested in nondiscrimination testing services, please contact us for a proposal.

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