A Custom Approach
The increasingly disrupted, confusing, and complex health care system in the United States has created challenges to employers to manage costs as well as compliance. GoodWorks Financial Group will collaborate with you to deliver consistent outcomes on your employee benefits programs. With our team standing next to you, we will help you streamline administration and boost employee engagement, all while focusing on cost savings.
We believe in taking a custom approach to your program rather than using a one-size-fits-all solution. We also understand the current insurance market and the suite of insurance products and services associated with your risks. Moreover, because of our deep industry knowledge, we have a handle on your pain points, which allows us to develop a tailored strategy to meet all of your benefits needs.
Delivering positive financial impacts and creative benefits solutions that exceed your expectations is what we do.
+ Benefit Communication Platform
Benefit Communication Platform GoodWorks Insurance Solutions is uniquely designed to provide full-time, highly trained Benefit Communication Specialists (BCSs) who permanently integrate with your HR team. Our specialists are dedicated to educating your employees about the benefits you offer through:
- Benefit Concierge
- Orientation Sessions
- Reorientation Sessions
- Open Enrollment
- Quality Assurance
+ Benefit Plan Services
Turn to GoodWorks Insurance Solutions to help identify risk, develop plan designs and funding strategies. We can help you secure the coverage to recruit, retain, and reward your most valuable assets. Ask us about opportunities with:
- Nonqualified and Supplemental Retirement Plans
- Benefits Restoration
- Key Employee Protection
- Insurance Company Owned Life Insurance (ICOLI)
- Corporate Owned Life Insurance (COLI)
+ COBRA Administration
COBRA (Consolidated Omnibus Budget Reconciliation Act) is a benefit plan that provides continuing coverage of group health benefits to employees and their families upon the occurrence of certain qualifying events where such coverage would otherwise be terminated. At GoodWorks Insurance Solutions, we know the intricacies of the program can be complicated—we are here to help our clients navigate and better understand plan details, triggering events and options.
- All required notices for your total COBRA administration
- An ERISA attorney
- Answers to your COBRA questions
- Deal directly with COBRA participants
- Carrier reporting and billing management
- HIPAA Certificate
+ Human Resources Library
Allows unlimited access to an extensive database of Human Resources related topics, including the ability to download and print documents. In tandem with the vast library access, you can call and speak with a dedicated consultant at no additional cost.
+ EAP Services
The employee assistance program (EAP) is a work-based intervention program designed to identify and assist employees in resolving personal problems (e.g., marital, financial or emotional problems, family issues, substance/alcohol abuse) that may be adversely affecting employee performance. EAP IS offered through GoodWorks Insurance Solutions at no cost to our clients.
+ Enrollment/Employee Communication Services
Whether on line or on paper, putting employee benefits information into the hands of employees is an important part of any benefits strategy. Employees can only appreciate benefits when they fully understand them. GoodWorks Insurance Solutions gives you an array of options to communicate the benefits you design and maintain, including enrollment information, benefit statements, and ongoing training and communications.
+ Executive Benefits
Significant risk may hide in your executive benefit plans:
- Standard group coverage for long-term disability often won’t replace bonus income which makes up a significant portion of executive compensation.
- Standard group coverage for life insurance is based on salary, not bonus, and often has a cap of $500,000.
- A target retirement income replacement rate can’t be reached for many executives based on contribution limits.
+ FSA/HSA Administration
FSA/FHA plans can be complicated for both the employer and employee. Our dedicated professionals are here to help clients better understand the intricacies of this program.
- Debit card availability
- Health care and dependent care accounting
- Online account management
- Dedicated customer service team
- Direct deposit capability
- Quarterly statements
+ Healthcare Reform and Legal Compliance
While both the Patient Protection and Affordable Care Act have now been fully implemented, we anticipate there will be continual modifications. In the future, our team of professionals will be here to guide clients through the complexity of changes as they occur.
Our advisors will help you make the right decisions by assessing your business and providing you with:
- A full in-depth audit of your current plans in relation to new laws/regulations
- Controlled Group Determination and Exposure
- Applicable Large Employer Determination
- Affordability Calculator (Employee Portion of Premium ≤ 9.5%)
- Metal Level Equivalency/ Minimum Value/ Actuarial Value of Current Medical Plan(s)
- Wellness Strategies and minimizing exposure under ACA
- Plan funding arrangement exploration and strategies
+ Loss Mitigation Services
Data analytics is essential to measuring your employees' health. With MyWave Connect©, we can help you identify the risks faced by your employee population. We can also use pharmacy analytics to assist you in driving down the costs of your pharmacy program.
Personalized employer solutions, focused on outcomes, can lead to cost savings on medical and pharmacy spending. Employees held responsible for healthy lifestyles and ongoing care choices share accountability with their employers for the expense of healthcare. GoodWorks Insurance Solutions measures performance for employers along the way, delivering solutions, oversight, and results. Working together we will implement a customized approach to long-term healthcare and pharmacy cost reduction that fits your company's business goals and culture.
+ Self-Funded and Fully-Insured Health Plans
Fully-insured plans are more traditional than self-funded plans. However, fully-insured plans are generally more expensive for employers, as the name implies. GoodWorks Insurance Solutions is here to help our clients better understand the complexities of both.
- Access to participant web site regarding their claims and balances
- Quality control on all claims to prevent eligibility issues
- Full subrogation and cost of benefit administration
- Bundling and unbundling capabilities and full code review
- HIPAA policies and privacy standards
- Flexible and fully programmable claim system
- Forms 834, 835, and 837 fill transmission and acceptance capabilities
+ Voluntary Benefits (Offered Through Employer)
Our GoodWorks Insurance Solutions team will develop plans based on employer and employee needs, including but not limited to:
- Permanent (Whole and Universal) and Term Life Insurance
- Critical Illness Insurance
- Hospital Indemnity Insurance
- Accident Insurance
- Short and Long-Term and Supplemental Disability
- Pre-Paid Legal, Identify Theft, Auto and Home and Pet Insurance
- Group Purchasing Programs
+ Wellness and Health Management
Health and well-being are tightly linked. That’s why many employers are finding it helpful to look beyond traditional medical benefits to address some of the challenges that affect their employees’ well-being. At GoodWorks Insurance Solutions, we help companies like yours create personalized programs that focus on:
- Physical well-being, such as managing or avoiding chronic conditions
- Mental health concerns, such as depression or stress
- Social issues, such as childcare and work-life balance
- Environmental factors, such as occupational safety
- Economic worries, such as personal debt