|
Government Benefit Services, LLC
provides a simple bona-fide hourly benefit
plan for Prevailing
Wage Government Contractors working under the Service Contract
or Davis Bacon Act
The GBS Healthfund works
like an HRA account. Fringe dollars
are deposited for each employee based on hours worked.
Employees have access to their fringe
money through a personal Debit
Mastercard. The card can be used to
purchase individual insurance and to pay current
medical expenses. Most employees choose to do both. Unused
dollars roll over from year to year. Considered a
bona-fide fringe benefit plan under the Service Contract Act. The
primary purpose of our program is to
meet the H&W requirement of the contract in
the least burdensome way. This is a turnkey plan that
covers both full and part time employees. The plan is 100% employer
funded and as such employees’ coverage will continue with no
employer contributions during an FMLA leave.
How does it work?
Once signed up the contractor sends the health and
welfare dollars on behalf of each employee into the healthfund.
Monies are available for each employees medical
care just like an HRA. Employees are issued a Debit
MasterCard to access their funds 24 hours per day at qualifying
outlets. Employees can use their card to purchase individual
healthcare and other types of coverage. Employees can review their
accounts online. Money not spent grows in the employee
account. Employees spend down their account even
after they leave employment. The contractor never has to be involved
in health insurance administration. Each company is provided a
corporate website. Employees can shop for different
insurance plans to meet their individual needs. The
employees can also choose to leave all their money their
Healthfund. The corporate website provides a user
friendly search engine so employees can compare plans
and costs. Employess can also pick up the phone and call for more
information and facts. Any employee who elects
coverage can fill out forms online or with the help
of a licensed insurance professional.
Who's it for?
Any Government Contract employer subject to prevailing
wage laws who...
-
Understands many employees prefer cash. The
Healthfund comes closest to paying cash into the paycheck
without any payroll burden.
-
Would like to meet their H&W obligation without
the complications of administering and explaining insurance
coverage.
-
Understands today's healthcare issues are complex making it
difficult to pick one plan for an entire group.
Things You Should Consider:
-
Many employees cannot afford major medical dependent
coverage with the fringe alone. This creates a
problem.
-
Many employees might already qualify for low cost or no cost
state programs. Duplication can be percieved as losing
their fringe dollars.
-
Limited plans being offered by many companies have huge gaps
in coverage. They do not cover major sickness leaving the employer
many times with misinformed and unhappy employees.
-
This plan is 100% employer funded and as such employees’
coverage will continue with no employer contributions during an
FMLA leave.
Call Government Benefit
Services, LLC
at (202) 261-6690 today!
| 
