GROUP BENEFITS
The Feingold Companies Offers Unrivaled Group Benefits, Keeping Your Employees’ Minds at Ease
At The Feingold Companies, we help business owners be more than employers. We know you want to be someone your employees can depend on for their quality of life. The cost of healthcare and the ability to save for retirement are major factors for people making career decisions. Letting your employees know how valuable they are by providing savings and coverage options can go a long way to reduce stress and put their minds at ease. When you work with The Feingold Companies, you have the opportunity to create meaningful benefits packages at a price your business can afford. Some of the challenges we help you navigate are:
- Finding a balance between an attractive benefits package and the costs associated.
- Offering a detailed benefits package that gives your employees freedom and guidance to select options that work for them.
- Understanding your employees’ needs and comparing them with the pros and cons of different benefits packages.
- Employee communication tools to keep your workforce educated and informed about their benefits.
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The Feingold Companies’ Group Benefits Products Include:
Our trained representatives help you select from a variety of group benefits products based on what best fits your employees and your business. We walk you through the selection process to make sure you’re making the right choice for all parties involved. Working with The Feingold Companies for your group benefits needs means you’ll have access and guidance when selecting from the following options:
- Complete 401(k) Profit Sharing Design and Third Party Administration
- Defined Benefit Planned Administration
- Group Health Insurance
- Group Life Insurance
- Group Disability Insurance
- Section 125 Cafeteria Plans
- Flexible Spending Accounts
- Health Reimbursement Account
- Health Savings Account
- COBRA
- Compensation Benefit Summary
What Are Group Benefits?
Salaries and wages are just one component of employees’ overall compensation. In addition to salaries and wages, many businesses also give employees group benefits. Some of these benefits are small compared to the pay that employees receive, while others account for a large portion of employees’ compensation package.
The phrase “group benefits” stems from the nature of these benefits. These are programs and policies that are made available to multiple employees — a group — rather than individuals.
What Businesses Make These Benefits Available?
Many businesses offer some of these benefits to their employees. With so many different options, it’s easy for businesses to find benefits that will be valued by their employees and fit within their budgets.
While some businesses may offer benefits simply because they value their employees, many use benefits as a way of attracting and retaining talent. In fields where skilled labor is needed, benefit packages can both help lure potential employees from their current position and entice them to stay with a business once hired.
Who Pays for These Benefits?
Who pays for benefits made available to employees varies. Sometimes employers pay for the benefits, sometimes employees pay for benefits, and sometimes the costs are split between employers and employees. The pay structure is usually determined by the business offering the benefits, and the same business may set up different pay structures for different benefits.
When benefits are fully paid for by employees, employees are frequently automatically enrolled in the benefits. When benefits are partially or fully paid for by employees, the benefits are often presented as options that employees can use or decline.
The Feingold Companies
Worcester Office
446 Main Street, Suite 1403
Worcester, MA 01608
Phone: (508) 831-9500
Fax: (508) 797-4030
New Lakeside & Dudley Insurance
446 Main Street, Suite 1403,
Worcester, MA 01608
Phone: (508) 943-0090
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