Green Collar Payroll will provide clients with several group medical options and will administer the benefit plan selected by the client by collecting and remitting the insurance premium, coordinating enrollments and assisting co-employees with questions and concerns.
Good benefits and good people go together. A competitive benefit program is crucial to attracting and retaining quality employees. GCP fulfills this need with access to nationwide, multi-option PPO, HMO, POS, High Deductible/ HRA and TC group health plans. Our plans allow you to choose the option best suited to your needs. Our solutions offer superior service, greater efficiency and unparalleled flexibility. We'll help you find the health care solution you're looking for, regardless of your company size, location, or stage of life.
Health Savings Account
Created in 2003, a Health Savings Account (HSA) is an IRA-like account that is designed exclusively for covering medical expenses incurred by the HSA owner, the HSA owner's spouse and his or her dependents.
An HSA is a tax-favored account used in conjunction with a high deductible HSA-compatible health plan which allows you to contribute funds on a pre-tax or tax-deductible basis. You may use this account to pay for eligible medical expenses. Generally, an adult who is covered with a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA.
Section 125 (FSA)
Our Section 125 Cafeteria Plan (sometimes known as a Flexible Spending Account) allows employees to pay for certain medical expenses on a pre-tax basis. Employees lower their taxable income, pay less in taxes and increase their take home pay by paying for these expenses before being taxed. Conservatively, employees can save 15% to 35% on Federal income taxes alone that they set aside in a Section 125 plan. When factoring in city, state, Social Security and Medicare (FICA) the tax savings are a huge plus for today's family's to increase cash flow and to help defray the high cost of medical insurance and dependent care.
Green Collar Payroll has partnered with a leading Dental provider to offer comprehensive flexible dental coverage to help you and your family keep a healthy dental regimen and reduce your out-of-pocket expenses.
The Preferred Dentist Program (PDP) is a Dental Preferred Provider Organization (DPPO), wherein you choose a provider at the time of treatment. You do not have to pre-select a primary dentist nor do you need referrals for specialty care. With the PPO plan, you and your family can visit any dentist or specialist you choose or a high-quality MetLife participating dentist, any time you need care.
If you do visit a participating dentist, you have the opportunity to maximize your benefit plan with access to lower out-of-pocket expenses. Best of all, the MetLife PDP features one of the industry's most extensive nationwide dental networks with over 240,000 participating dentist locations.
After any applicable deductible, our PPO plan pays a generous percentage of dental expense, up to an annual maximum.
401(k) with A leading financial group
Green Collar Payroll sponsors a multiple employer 401(k) plan through its strategic partnership with Lincoln Financial Group. 401(k) savings plans are employer-sponsored plans that allow employees to save for retirement while reducing their current taxable income. Green Collar Payroll's 401(k) savings plan allows our clients to offer this benefit without the hassle of establishing their own plan and allows each employer to specifically design a plan that meets their business requirements, at a fraction of the cost. Plans are designed with little to no cost to the worksite employee.
Green Collar Payroll has a selected vision partner for eye care benefits. For over 30 years, this partner has offered one of the best values in vision benefits. Members have the freedom to choose from thousands of carefully selected providers in their nationwide network. Our partner contracts with optometrists, ophthalmologist and vision retail centers and currently covers over 5 million members through insurance companies, HMO's and thousands of small, medium and large employers.
• Maximum benefit flexibility
• No claim submission, vouchers or pre-authorizations
• Repeatable savings at participating provider
• High quality, affordable vision benefits
Many American workers fail to plan for expenses, such as loss of income and childcare, not covered by health insurance. In fact, unexpected illnesses and injuries cause 350,000 personal bankruptcies each year.
The voluntary benefits can help protect your employees' savings if they can't work due to an illness or injury. By offering these benefits you can help your employees be more financially prepared for the unexpected.
Voluntary Benefits Include
• Critical Illness
• Supplemental Health
Advantages of Supplemental Products
• Expand your benefit options without breaking the budget
• Voluntary benefits are 100 percent employee paid
• Opportunity to possibly reduce your payroll tax for each enrolled employee
• Minimize disruption to business with custom enrollment options
• Provide a range of benefits to help keep employees productive and loyal
• Benefits are portable For additional information, please contact Green Collar Payroll