Employee Benefits

Employee Benefits

Robust employee benefits packages level the playing field for smaller companies by helping them recruit, retain and engage top talent.

Surveys repeatedly have shown that employees often value health insurance benefits more than higher pay – and benefits packages are one of main considerations for job seekers when deciding whether or not to accept employment offers.

But small and medium-sized companies rarely have the time or resources necessary to affordably obtain and manage desirable employee benefits like health, life and disability insurance; employee assistance plans; pre-tax health savings accounts; and 401(k) retirement plan benefits.

For Fortune 500-level employee benefits in Kansas City and turnkey benefit plan administration, smaller companies often turn to Axcet HR Solutions to stay competitive and compliant with benefits-related regulations. Axcet, a certified PEO, pools clients’ employees into a single group to create bargaining power with insurance providers, giving smaller companies access to better coverage at lower rates.

Relying on Axcet for employee benefits compliance and administration is the smart play for smaller companies that lack the time and expertise to effectively manage this critical business function in-house.

Partnering with Axcet costs no more than dealing directly with an insurance carrier. But it dramatically reduces the time required to find and evaluate benefit options while providing extensive support and personalized employee benefit plan services.

Employee benefits are essential to your company’s growth. Let Axcet help you make the most of them.

Health Insurance

The Affordable Care Act requires small businesses with more than 50 employees to offer health insurance, but most employers provide this benefit regardless of their size.

Health insurance, considered a core benefit, has effectively become table stakes for companies that want to attract quality employees and keep them happy on the job.

Providing medical coverage is directly tied to business success. It yields:

• Healthier workers
• Higher morale
• Reduced absenteeism
• Greater productivity
• Lower turnover, taxes and salaries

With Axcet’s health benefit services, small and medium-sized businesses can offer more of the options employees want at prices they can afford.

Group Dental and Vision Plans

Besides health insurance, dental and vision coverage are considered standard offerings. In fact, 92% of larger firms include such plans in their benefits packages. Smaller employers who don’t provide dental and vision coverage, therefore, are less competitive.

Dental hygiene is linked to overall health, so offering this benefit can lead to lower absenteeism, as well as communicating to employees that their well-being matters. Axcet’s plan is provided through one of the country’s most-recognized dental insurance providers. In the nationwide network, preventive care is covered at 100%, including for children 12 and under.

With Axcet’s group plan pricing, vision coverage is a relatively low-cost benefit companies can offer. It includes annual eye exams, contact lenses, Lasik eye surgery discounts and new glasses every 12 months, as compared to many vision insurance products that only cover new glasses every other year.

Group Life and AD&D

Offering group life and AD&D (accidental death and dismemberment) insurance gives employees peace of mind that they can provide a secure future for the people who rely on their income. Employees may select this coverage not only for themselves, but also for spouses and children.

Plan enrollees also have access to a legal document center where they can get help creating a will and putting plans in place for loved ones to be taken care of financially in the event of the employee’s death or a loss of limb that prevents the employee from carrying out required job functions.

Group Short-Term and Long-Term Disability

Disability benefits replace a portion of lost wages when employees are unable to work due to a medical event, either for a short period after paid time off runs out or for a long period after short-term disability runs out. These products provide replacement income for conditions that require time away from work, ranging from having a baby to catastrophic diagnoses. Employees have a choice of plans so they can secure their families’ well-being in the way that best fits their needs.

Employee Assistance Plan (EAP)

An employee assistance plan, or EAP, provides employees and their immediate family members with services directed at resolving personal matters that are interfering with daily life and work. Axcet’s EAP is provided to all employees and everyone in their households, free of charge, regardless of their enrollment in any of Axcet’s other products. For Axcet clients, the EAP lowers health care costs, reduces absenteeism and improves staff productivity and work-life balance.

The COVID-19 outbreak caused a surge in depression and anxiety, underscoring the need and desire for mental health benefits in the workplace. Axcet’s EAP plan provides free, confidential professional counseling 24/7, 365 days a year. Offering these services reduces pressure on workers and helps your company care for them holistically – something that is more important than ever post-pandemic.

Concierge services, also provided in Axcet’s program, deliver solutions for personal needs, which could include a search for childcare providers that take a certain insurance, help with household finances or assistance with issues of aging parents or teenage children. Employees simply share their criteria; the concierge researches and provides options.

Employers also may make referrals to the EAP to address employee performance, attendance or other job-related issues.

Health Care Flexible Spending Account

A health care flexible spending account (FSA) allows employees to set aside money on a pre-tax basis, which reduces their federal taxable wage, and use it for out-of-pocket expenses like premiums, deductibles, over-the-counter medications, prescription drugs and co-pays. FSA salary deferral contributions are fully pre-funded at the beginning of each year, making those dollars available immediately for employees’ use. Axcet incurs this financial risk on behalf of clients while also simplifying FSA administration through world-class technology and mobile access.

Dependent Care Flexible Spending Account

Like a health care FSA, a dependent care FSA allows employees to set aside money pre-tax for expenses related to caring for children under age 13 and for seniors living in the employee’s home. It helps employees maximize their incomes and save on taxes.

Axcet’s employee benefit plan services alleviate the administrative headaches associated with dependent care FSAs. Your company can shift these tasks to Axcet, including stringent documentation that meets exacting IRS standards, claims processing and compliance issues regulated by ever-changing laws.

Small and medium-sized companies enjoy a turnkey and cost-free approach with Axcet. We collect all premiums, handle reporting and billing and manage the entire plan. We take the stress out of offering these benefits, which engenders employee satisfaction and loyalty and gives you more time to focus on what you love most about working with your team.

Health Savings Account (HSA)

An employee must be enrolled in a qualified high-deductible health plan to qualify for a health savings account (HSA). Employee contributions are tax-deductible, and employees can use HSA money to pay medical expenses for themselves, their spouses and their qualified dependents.

HSAs’ contribution limits are higher than those for FSAs. Unused balances roll over from year to year and follow employees if they leave your company. With proper planning, employees can use this tax-free money to help pay for qualified healthcare expenses before and after retirement. Axcet provides free benefit plan administration and charges no fees for managing an HSA, which makes offering these accounts an easy decision.

401(k) – Pre- and Post-Tax Options

When your company offers 401(k) benefits, making it possible for employees to set money aside pre- or post-tax, you are helping them financially prepare for retirement. Axcet arranges automatic, pre-tax payroll deductions as well as matching contributions, if your company wishes to make them.

You incur no additional costs when Axcet administers your 401(k) plan, and your employees gain direct access to a knowledgeable financial consultant who can provide one-on-one counsel and answer any questions they may have.