Ancillary Benefits

In addition to offering health insurance to your employees, ancillary benefits are an important component of a company’s benefits package. Ancillary benefits can be paid by you, the employer, your employees, or a combination of the two. MBL can show you how offering ancillary benefits can be a cost-effective decision for your company.

Life

While most Americans believe they need life insurance, 53% do not have any or enough life insurance. As an employer you are aware of how important a comprehensive benefits package is to attracting and retaining talented employees. A group life insurance plan should be part of this package. Often groups of as little as five employees can be established. Flexible plan design options allow you to create a customized program that meets your company’s needs. Life insurance forms the cornerstone of an employee benefit package as most employees look to their employer to provide this coverage.

Long-Term Disability

Unfortunately, disabilities are more common than most of us think. According to a recent survey of employers, long-term disability rates increased among 27% of those surveyed. Given this trend and the increasing average age of the American workforce, the protection provided by group disability insurance should not be overlooked. We will work with you and our carrier partners to design the plan that best meets your specific needs. Considering the significant medical insurance premiums, group disability coverage can provide a considerable benefit for a relatively low cost.

Short-Term Disability

Most people associate disability with serious accidents, but in reality the majority of disabilities are caused by illness. Group short-term disability can help you and your employees cope with short-term absences from work due to illness or injury. With its reasonable cost and high benefit potential, and likely guaranteed issue, group disability insurance makes a strong addition to your benefits package.

Vision

We partner with various carriers to offer your company a personalized eyecare plan that is right for you and your employees. Eyecare is about more than just getting glasses or contacts – It’s about health. Eye exams can catch early warning signs of serious health conditions such as diabetes, high blood pressure, and high cholesterol. Adding a vision plan to your benefits package is another great way to put the health of your employees at the top of your company’s priority list.

Flexible Spending Accounts (FSA)

Given today’s difficult financial times, everyone is looking to save money wherever they can. An FSA is a useful tool to help both employees and employers save money. While the tax advantages represent a great savings to your employees, by allowing them to set aside money from each paycheck pre-tax, your company can possibly lower the payroll taxes for each employee who enrolls in the FSA. Employees are beginning to expect an FSA as part of a complete benefits package. For little expense and virtually no administration duties, an FSA is sure to increase employee satisfaction.

Dependent Care Accounts

With day care costs averaging $3,000 – $9,000 per child per year, Americans today spend more out of their pocket on child and dependent care than ever before. More and more working adults are all also responsible for the care of their elderly parents. By offering employees a Dependent Care FSA you can help them lower the cost of care for both child care and senior day care.

A Dependent Care FSA provider helps your employees set aside pre-tax money from their paycheck and puts it in a “tax-advantaged” account. The money must be used for eligible expenses and receipts must be submitted to the administrator. Employees can either have their dependent care provider paid directly from the administrator of they can be reimbursed themselves via direct deposit or check.

Commuter Benefits

Commuter benefit programs give your employees a way to lower their commutation expenses by reducing the cost of getting to work. An employee can save in their account up to $230 per month for public transportation and/or van pools, and up to $230 per month on parking near the employer’s location. By transferring compensation from the employee’s pay to a pre-tax commuter account, your company can possibly reduce payroll taxes. While employees appreciate the commuter benefit, they can be difficult to administer. MBL partners with leaders in the field to manage the program for you.