Benefits Under Design LLC was founded to search local, regional and national markets for the best employee benefits solutions to meet the needs of the cannabis industry. Here is some of what we can bring to your organization:
Professional Employer Organizations (PEO)
PEO’s are co-employment companies that can allow cannabis related employers to solve their banking, compliance and scalability issues through combined payroll, HR, workers comp, employee benefits insurance and more.
Minimum Essential Coverage Plans (MEC)
MEC plans provide employers with an incredibly cost effective solution for offering a limited benefit medical plan to employees, that also satisfies the requirement for Penalty A under the Employer Mandate portion of the Affordable Care Act (ACA).
Minimum Value Plans (MVP)
MVP plans provide employers with a reasonably priced major medical alternative to MEC plans that satisfy the requirement for Penalty B under the Employer Mandate portion of the Affordable Care Act (ACA).
Fully Insured ACA Compliant Small Group Community Rated Metallic Plans
These medical plans are a simple to set up solution offering a wide variety of plan designs, no medical underwriting, and pricing based solely on age and location (and in some areas, tobacco use). They come in categories of bronze, silver, gold and platinum and are a great option for start up companies who don’t want to approach new employees with the health questionnaires required for medical underwriting and who meet the size criteria (2-50 or 2-100 employees depending on the state).
Self-Funded and Level Funded Plans
These increasingly popular plans allow healthy groups that are either more limited by their fully insured options, or want to gain more pricing control, to obtain more flexibility and reduce cost. Self-funded plans are built with many protections to safeguard employers from condition exclusions, a roller coaster of claims costs and allow employers who wish to do so, to walk away at renewal without ongoing risk. Employers willing to go through the application process with their employees can often find much to gain.
Fully Insured Large Group Medical Plans
Employers with 51 or more employees have several options to obtain fully insured medical coverage, and those with over 100 employees will also benefit from claims experience at renewal that makes it easier to identify cost drivers within the plan and shop coverage. Fully insured plans typically have fewer compliance requirements and risks than self-funded plans, and are regulated by the state as well as subject to federal ERISA law.
Ancillary Lines of Coverage
Dental, vision, disability, life, accident and other lines of coverage round out an employer’s offering and provide options so that every employee can participate in and benefit from the program. In many cases, these lines of coverage can be offered on a voluntary basis so there is no cost to the employer, but the employees benefit from easy enrollment and access as well as the convenience of payroll deductions.
Section 125 Plans
These IRS plans allow employers to pre-tax payroll deduct employee premium contributions for qualifying lines of coverage as well as create pre-tax employee savings accounts, Flexible Spending Accounts (FSA) for medical, dependent care and transportation expenses.