|
Government
Benefit Services
Bona-fide
hourly benefit plan for Prevailing Wage Government Contractors working under
the Service Contract or Davis Bacon Act
The GBS Healthfund
and Trust works like an HRA account.
Fringe dollars are deposited for each employee based
on hours worked. Employees have access to their fringe dollars
through a personal Smart Card and/or paper
claims. Some fringe dollars are applied towards basic
hourly healthcare coverage.The coverage includes, doctors,
hospitals, RX, dental, vision, life and disablity income. The
card can be used to purchase individual
insurance and to pay out of pocekt medical
expenses. 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 with the total cost paid for by the
H&W fringe benefit amount.
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. Employees can use their funds to
find an insurance plan that meet their individual
needs. Employess can call toll free for information about
their program.
Who's it for?
Any Government Contract employer subject to prevailing
wage laws who...
-
Understands the Healthfund is closest to paying
cash into the paycheck without having the payroll
burden.
-
Would like to meet their H&W obligation without
the complications of administering major
medical 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 can cover the basic and HRA dollars can be used
to pay the differenc
-
This plan is 100% employer funded and as such employees HRA
coverage will continue with no employer contributions during an
FMLA leave.
Call Government Benefit
Services, LLC
at (202) 261-6690 today!
This is not an offer to
sell insurance. GBS provides support and adminstrative services for
government contractors. All insurance is sold separate by
licensed insurance agents.
| 
