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Financial Products & Services
A group medical program is usually the
first step in the design of a comprehensive employee benefits plan. Group Term
Life,
AD&D and Disability Income, in combination with individual voluntary
products, are then added to provide employees with a more comprehensive
benefits portfolio. A complete program, however, will also provide employees
with access to products and services to help them plan for retirement and
develop a long term financial strategy.
A 401(k) program helps employees save for retirement through pre-tax reductions
to their current salary. Employers can choose to match employee contributions
to help maximize participation. The employer then deducts the contributions
from his or her taxes as a business expense. Participating members can utilize
the program to build retirement security. The program benefits employers by
helping to attract and retain quality employees.
A "bundled" 401(k) program provides ease of administration and helps to protect
employers against potential penalties. Larger employers may wish to implement
an unbundled program for increased program and investment flexibility.
Grady & Associates, through one of its business partners, provides the
necessary expertise to assist clients with the design and implementation of
both bundled and unbundled 401(k) programs. G & A partners can assist with all
aspects of program administration, from the setting of contribution levels and
the right mix of investments, to plan document preparation and the selection of
a quality administrator.
Long term care insurance provides one of the few available mechanisms for
individuals to protect themselves against the catastrophic costs of nursing
home, home health, or assisted living facility care. An employer-sponsored
long-term care insurance plan reduces employee premium cost and provides a
greater level of benefits in comparison to programs available in the individual
market. A group long-term care offering can significantly increase the
perceived value of an employer benefits program and works effectively with a
401(k) and voluntary work-site programs to improve employee retention.
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Dawn DiCello is the Grady & Associates Director of Client Services. Dawn works with agency clients to coordinate employee enrollments and resolve day-to-day issues. She has over thirteen years experience in medical underwriting and client service. Dawn has worked with both regional and national insurance carriers. Her knowledge of industry policies and procedures is invaluable in the implementation and administration of client programs.
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