Value Statement: "We are committed to treating our clients with fairness and respect. We strive to educate insurance prospects and clients alike about the potential risks for loss unique to them individually, and the products that are available to secure them from financial loss. It is our commitment to serve all members of our community with expertise and financially sound insurance products."

"When I have questions, I can call and get an answer right away."

EMPLOYEE BENEFITS

Our goal as your employee benefit specialist is to provide exceptional service through ongoing employee communication and education, expertise in product design and administration, and maximization of value for the money you and your employees spend on benefits. Value added services include:

  • Comprehensive annual plan review of 50 insurance companies and efficient risk representation
  • Customized website which clearly communicates employee benefits and reduces employer administrative burdens
  • Enrollment and education of new hires in efficient benefit utilization every quarter or as needed
  • Employee health and wellness fairs
  • Ownership in solving employee claims and administrative billing issues
  • Dedicated account manager with immediate availability and prompt response
  • Advocating proper COBRA and state continuation procedures with employee notices and election forms
  • Expertise in all employee benefit products (medical, dental, life, long/short term disability, vision, voluntary products, 401(k), HRA’s, cafeteria plans)
  • Toll free human resource counsel from local attorneys
  • Personalized employee statement of benefits
  • Provided HR resources and employee handbook
  • Network for policy reviews, performance appraisals, and employment law and practices' training

Some of products offered by Intermountain Business Insurance:

Health

Our experienced benefit specialists will partner with you to maximize your health benefit dollars by taking advantage of innovative plan designs and alternative funding methods. We employ a vast array of insurance carriers, third party administrators and networks to maximize the value of your heath plan. A properly implemented health plan includes bidding, enrollment, education, and ongoing administration. Depending on your needs, IBI will assemble a team with diverse specialists. Put us to work for you.

Dental

Considered an attractive benefit by most employees, dental insurance operates in much the same way as health insurance.

Dental coverage, or a dental benefits plan, reimburses the policyholder for certain dental expenses according to written agreement. Because most dental diseases are preventable (unlike many medical diseases, which can be unpredictable and catastrophic), most dental benefits plans are structured to encourage patients to obtain the regular, routine care that is vital to prevention and diagnosis. This emphasis on prevention is reinforced by most plans, which require the patient pay a greater portion of the costs for treatment of dental disease than for preventive procedures.

Some plans allow you to choose your own dentist. Others, in exchange for lower rates, limit your choice. Although the opportunity to choose a dentist is only one factor in the decision to choose a plan, it is a good idea to note the difference between the two alternatives:

  • Open Panel/Freedom of Choice. Allows covered patients to receive care from any dentist and allows any dentist to participate. Dentists may accept or refuse to treat patients enrolled in the plan. Coverage with this feature allows you to receive full benefits for treatment provided by any dentist of your choice.
  • Closed Panel. Allows covered patients to receive care only from dentists who have signed a contract of participation with the third party. The third party contracts with a certain percentage of dentists within a particular geographic area, who in turn offer lower rates to the patient.

Life

Group life insurance is a low cost employee benefit that’s tax deductible up to $50,000 per employee. While all employees appreciate this benefit many can’t qualify on an individual basis. With guaranteed rates, group life insurance is helpful for employees with health problems.

Pension/Retirement

You’re probably familiar with 401(k) plans that offer employees the option of contributing up to 15 percent of their salary as long as it doesn’t exceed a certain figure. Companies generally contribute a certain percentage for employees who participate in this plan. Although this may be what you’re employees are expecting, there are other options that may be better suited to your small business budget.

Many small business owners are opting for a less complicated solution: the Savings Incentive Match Plan for Employees plan (SIMPLE plan). Like, a 401(k) plan, the SIMPLE IRA removes the temptation to spend since reductions are made before employees ever receive their paychecks. Small business owners also contribute funds when using this plan.

Other options to consider are several simple employee pension (SEP) plans. Employers who use SEP plans take all the contributing power out of their workers hands and put it in their own. Employees cannot contribute any funds to SEPs. But although employers contribute all the money, the plans belong solely to the employees. One version of the SEP does allow for employee salary contributions, but a plan must already be in place to utilize this option.

Employees in today’s job market have a precarious future. They never know when someone’s going to release the sliding floor out from under them. Providing job candidates with some shelter from this ever-present financial danger will give you an edge over the competition.

Disability

Long-term disability is what most people think of as disability insurance. It protects for a long period of time, as long as the insured's life. It usually covers 60% of the insured's income or more. However, long-term disability can take a while to start paying. Short-term disability is for smaller, less serious, disabilities. It covers for a shorter period of time, usually only as much as 30 days. However, it starts paying sooner, sometimes as fast as immediately for accidents and only 7 days of waiting period for sickness.

Supplemental

Supplemental plans pay on top of regular group benefits, providing an extra source of funds during trying times. Several companies offer a suite of supplemental choices for employees that can be elected on a voluntary basis. Voluntary supplemental benefits help employees, without incurring the direct cost to the employer.

Cancer Plans

This is the most common form of a supplemental insurance policy. Cancer policies pay on an occurrence basis for the expenses related to cancer. Most notably, cancer policies pay amounts toward experimental treatments and travel expenses, often not covered in group medical plans.

Accident Plans

These are second most common form of a supplemental insurance policy. Accident plans pay set amounts for certain types of injuries and treatment. These plans are great for people who play sports or have small children that are constantly getting "bumps and bruises."

Cafeteria

(125 Plan) An easy-to-use, affordable employee benefit that helps lessen the strain of health and dependent care expenses for employees while providing tax savings to the company.

Health Reimbursement Account

An HRA is offered in conjunction with a high-deductible medical plan, and is funded by the employer for each participating employee. It pays for eligible health care expenses typically covered under the medical plan.

  • Unused funds can be carried over to the next year to cover future health care expenses, an incentive to employees to use their personal HRA wisely.
  • If funds are exhausted, the employee is responsible for satisfying the remaining deductible before the plan begins to pay.

Premium Only Plan

The Premium Only Plan, or POP, is an employee benefit service designed to help your business and your employees reduce the tax expense associated with paying premiums on group insurance benefits.

Health Savings Account

A Health Savings Account (HSA) is a tax-advantaged account participants can use to pay for qualified health expenses they incur while covered under a high deductible medical plan. While HSA dollars may also be used to pay for non-qualified health expenses, such use will be subject to taxation. HSA dollars, contributed by the employer, employee or a qualified family member, accumulate over time with interest or investment earnings, are tax-free, are portable after employment and can be used to pay for qualified health expenses tax-free, or for non-health expenses on a taxable basis.

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