The Right Products and Services for Right Now
We will constantly introduce our clients to new benefit concepts and industry solutions to ensure we successfully meet their financial and business objectives.
Strategic Benefit Consulting
Navigating our Clients in the Right Direction
We understand the value of consistently earning our clients business and will do so throughout the length of our relationship. Our consultative approach applies a systematic method of analysis to our client’s entire benefits program. We analyze your program as a coordinated whole in terms of its ability to meet employees’ needs and manage loss exposures within the company’s overall compensation goals and cost parameters.
Our Encompassing Process Includes:
- Financial Performance Analysis
- Budget Projections Preparation
- Optimal Benefit Plan Program Analysis
- Funding Options Analysis (Fully Insured, Self-Insured, Level Funding, Minimum Premium)
- Carrier & Vendor Negotiations and Management
- Professional Employee Communications
We plot a benefit roadmap for our clients with short-and long-term goals, successfully navigating them in the right direction.
The Right Products and Services for Right Now
Health, Dental, and Vision benefits are the cornerstone of employee compensation. As a group health insurance advisor/broker, CMR works with all group benefit insurance carriers and vendors. We take a proactive approach to surveying the market. As a result, we can direct our clients towards best in class and most competitive carriers and vendors.
- Group Health (Fully Insured & Self Funded)
- Plan Designs: PPO, POS, HMO
- H.S.A.’S (Health Savings Accounts)
- HRA ( Health Reimbursement Accounts)
- Consumer-driven Health plans (CDHP)
- Long Term Care
- Medicare Supplements & Medicare Part D
- Temporary Medical Plans
- Hospital GAP Plans
- Section 125 Cafeteria Plans
- Health Risk Management Programs/Employee Assistance Programs
- Employer Contribution Strategies
Voluntary Worksite Benefits
Voluntary benefits are increasingly popular as they are advantages to both employers and employees
CMR Benefits Group believes that voluntary benefits can help level the playing field when competing with larger companies for talented employees.
We will survey and guide you to a multitude of voluntary benefit options, including:
- Accident Insurance
- Cancer & Critical Illness Insurance
- Disability Insurance
- Life Insurance
- And More
Group Disability & Life Benefits
Protecting Your Employee’s Income
Offering employees the opportunity to safeguard themselves from significant income loss is becoming crucial given the rising cost of living in the United States.
Group Life and Disability Policies Have Significant Advantages:
- All employees are insured
- Tax advantages are common
- Administration is simple
Key Benefits for Key Employees
To attract and retain skilled employees, small businesses can use a variety of rewards and incentives including bonuses, group benefit programs, and 401(k) plans. For the top tier of executive talent, additional non-qualified executive benefit programs can be offered selectively.
Executive Benefit Programs include:
- Executive Bonus Arrangements
- Split-dollar Arrangements
- Non-qualified Deferred Compensation
- Supplemental Employee Retirement Plans (SERPs)
Consumer Driven Healthcare
Experts in the Consumer Driven Healthcare Model
Policymakers, employers, and insurers have a growing interest in an insurance approach known as “consumer-directed health care.” This term applies to a broad range of health plan designs, but it is most commonly used to describe the combination of a high-deductible health insurance plan with a tax-preferred savings account used to pay for routine health care expenses.
A high deductible health plan is required in order to have an HSA. Routine health care expenses are paid out of a savings account. After the account is depleted, individuals pay directly out-of-pocket until they have reached the high deductible amount in their health plan.
Because the plan has a high deductible, monthly premiums are often lower than traditional health insurance.Consumers retain unspent dollars in their account, creating an additional incentive to be cost-conscious when purchasing their health services. Employers or individuals can contribute to an HSA.
While an HSA (Health Savings Account) and HRA (Health Reimbursement Account) are both tax-preferred health accounts, they have different legal requirements and incentives. CMR Benefits Group is knowledgeable in all aspects of the Consumer Driven Health Care model.
Retirement – 401(k)
401(k) Plans Help Attract and Retain Quality Employees
A 401(k) plan is a profit-sharing plan designed to allow employees to defer salary for retirement savings. An employer can also make deductible matching contributions, which provide a strong incentive for employee participation. Because contributions are pre-tax, employees can choose to defer pre-tax salary for retirement savings. Many 401(k) plans now allow a participant to designate part or all of his salary deferrals as after tax Roth contributions. This plan can be set up by any type of business including sole proprietorships, partnerships and corporations.
A 401(k) Can Accept Six Types of Contributions:
- Employer profit-sharing contributions
- Employee pre-tax contributions
- Catch-up contribution for those age 50 and older
- Matching contributions by the employer
- After-tax Roth contributions
- After-tax employee contributions
Roth Contributions: If your employer offers a 401(k) plan, you may be able to take advantage of the Roth 401(k) option. The Roth option in a 401(k) allows you to designate part or all of your 401(k) contribution as Roth after-tax dollars. If certain requirements are met, the Roth distributions from your 401(k) may be tax-free.
As your advisor, CMR Benefits Group provides comprehensive support and customized account management for your retirement plan.
Private Client Insurance
Individual/Family Plans for Under 65
We offer assistance with Health plan selections, enrollment and medical underwriting. Once your plan is in place, our service continues with administration and claims assistance along with renewal options to keep your health insurance plan affordable.
Senior Supplement plans are group major medical insurance coverage for Medicare-eligible retirees. They help pay for the costs recognized but not covered by Medicare Parts A and B. The plans are regulated by state insurance agencies (for insured plans) or ERISA (for self-insured plans) rather than by the Centers for Medicare and Medicaid Services (CMS).
Medicare Rx Coverage
Medicare prescription drug coverage is insurance run by an insurance company or other private company approved by Medicare.
There are two ways to get Medicare prescription drug coverage:
- Medicare Prescription Drug Plans These plans (sometimes called “PDPs”) add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans.
- Medicare Advantage PlansLike an HMO or PPO there are other Medicare health plans that offer Medicare prescription drug coverage. You get all of your Part A and Part B coverage, and prescription drug coverage (Part D), through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called “MA-PDs.”
Shopping for Individual Insurance?
An ONLINE STORE, also referred to as an “Exchange”, is where consumers can purchase benefits. Exchanges offer multiple options of health insurance plans, and may offer other benefits such as dental, vision, life, and disability. Exchanges that are “private” are run by industry, while “public” exchanges are run by the government. The Affordable Care Act (aka “ACA”, “Health Care Reform” or “Obamacare”) was passed by Congress in 2010. It was intended to reduce the number of people without health insurance by providing people with incentives and options to buy insurance.
Our Encompassing Process Includes:
- Expanding eligibility for Medicaid;
- Providing tax credits that make insurance more affordable for those who qualify and providing penalties for those who choose not to purchase insurance;
- Guaranteeing access to coverage regardless of pre-existing health conditions;
- Establishing government-run health insurance exchanges for individual insurance.
CMR Benefits is dedicated to helping consumers figure out how to make Healthcare Reform work best for them and to make informed choices. A smarter, more empowered health care consumer is emerging.
Enjoy your shopping experience!
- Smart Insurance Marketplace: Shop for Health, Dental, Supplemental, Temporary Insurance, and more
- United Health Care: Shop for Individual and Family Plans
- AlwaysCare Dental (underwritten by Starmount Life Insurance Co.): Shop for Individual and Family Dental Plans
- IMG International Medical Group: Shop for International Insurance
- Cincinnati Insurance Companies: Shop for Life Insurance