Tax Savings Plans:

We feel that our plan participants deserve real customer service, and in turn our efforts will result in increased employer savings due to your employee’s high participation. The Preferred Group offers the most comprehensive package of options for your employees including Debit Cards, Website Access, Direct Deposit and Email Notifications, in turn enhancing the employee’s experience with your plan. Preferred offers same day claims payment and live customer service by our trained professionals from 8 am to 6 pm on all business days. This will translate into higher employee plan participation resulting in greater tax savings for your organization.
 

Flexible Spending Plan Administration:

“Employees save by choosing how much they will spend”

Flex Plans are one of the best and most inexpensive plans that you can offer to your employees. This plan allows an employee to choose how much money they will spend on medical, dependent care and health insurance. Funds are taken through payroll on a pre-tax basis so both the employer and the employee save on taxes. Employees will save anywhere from 30% to 40% on their out of pocket expenses while employer’s save the entire 7.65% on FICA.

Health Reimbursement Arrangements (HRAs):

“Fully customizable plan that can lower out-of-pocket medical costs”

HRA’s can be used to help mitigate the high cost of health insurance. This plan is fully customizable to the employer and can help relieve employee out of pocket medical costs. For example, under an HRA employer’s can lower the actual out-of-pocket expense for their employees by giving them a specified dollar amount towards their copay. This concept can be used for In Patient Hospital, Prescription Drug, Maternity Expenses, and much more.
 

Health Savings Accounts (HSAs):

“Let employees choose when, where and how they want to spend”

These employee owned accounts are a great way to reduce health insurance costs while giving employees the flexibility to make their own decisions about their healthcare. Once enrolled in a low premium High Deductible Health Plan (HDHP) both the employee and the employer can make contributions to the employee’s Health Savings Account for use by that employee when, where and how they want to use it.
 

Transportation Benefit:

“Subsidize and allow employees to pre-tax expensive daily transit costs”

All your employees have to deal with costs associated with the daily commute to and from work such as rising fuel costs, tolls and parking fees, all at the expense of their hard earned wages. Give them the ability to save money by pre-taxing those expenses, thus allowing them to pay for Mass Transit, Parking and Van Pooling.