Services
At Theriault Financial, we understand the challenges that small businesses face, because we are one too. We all want to attract and retain the best employees while still controlling the rising costs of healthcare benefits. One of our core beliefs is that a group benefits program should be just that, a benefit; that means a benefit to everyone - employees and employers alike. Theriault Financial can help you find the best coverage at the best price. Let us help you choose the solution that fits your needs so you can get back to business.
Depending on your situation, there are different ways that we can offer help. If you have a healthy staff and you’re looking for low cost solutions while still ensuring your employees are taken care of when they need it, an un-pooled program may be best. You pay the rates that you and your employees deserve.
On the other hand, if you’ve been met with high increases and large fluctuations in your rates at renewal time you might just benefit from the stability of the pooled Chambers of Commerce Group Insurance Program, where your claims are shared with those of 28,000 other business. With this option, you won’t have the hassle of finding a new carrier every year and instead you can relax and be confident that your best assets, your employees, are protected.
Executive Benefits
Sometimes the benefits within a group benefits program are just not inclusive enough to attract and retain the best employees your industry has to offer, or to protect your company into the future.
Executive benefits for owners and upper management can include private disability programs, executive critical illness plans, and more. These benefits, among others, can be tailored to fit each candidate to pay out in addition to the company’s regular group benefits plan and can also act as an incentive for your key employees.
Aside from protecting yourself and your employees, we also ask you to consider protecting your company. As business owners, we invest a great deal both financially and emotionally in our companies. Buy/sell agreements and key man policies (often funded by the company itself), protect your company in the event of an injury or death of a vital employee. In such a case, the insurance company would inject your business with the required benefit amount to keep the business afloat while you devise a plan for recovery and search for proper replacements.
For those companies that are incorporated or limited, Cost plus may also be available within your group plan. Cost plus is a tax effective method of having the company pay for items that may not be covered through traditional programs such as laser eye surgery or more complicated dental work. Be sure to ask how cost plus can be added to your group benefits program to assist in future claims.
Group Benefits
Once we’ve helped you determine the right program for your business, you'll have to choose what types of employee benefits you’d like to offer.
Healthcare Benefits
As we’re all well aware, healthcare costs are on the rise, services are shrinking, and there seems to be no end in sight. As a result, if you don’t have an ample drug and healthcare plan, employees are not interested in working for you. At Theriault Financial, we recommend a comprehensive benefits plan that typically offers 70% - 100% coverage for your employees and their families. Knowing their families are taken care of provides your employees with a peace of mind that allows them to concentrate on the work at hand – your business.
Dental Benefits
More than just a cosmetic luxury, dental health is a critical part of overall body health. Poor oral health has now been linked to more serious conditions such as heart disease, stroke, diabetes and cancer. An important part of a good group benefits package, Theriault Financial can offer a variety of dental programs for employees and their families that range from simple coverage of regular cleanings to braces and orthodontic services as well as more comprehensive procedures.
Disability Benefits
As small business owners, we’ve all worried about the consequences if for some reason we weren’t able to work and earn a living for our families. It’s a thought that has probably caused us all to have a sleepless night. Fortunately, today’s group benefits programs cover short and long term disability situations. Whether it’s a broken leg that keeps you off your feet for a couple of months or a stroke that requires years of recovery, a properly designed disability benefit will ensure that you and your family continue to live the lifestyle you’ve provided for them.
Critical Illness Benefits
Critical illness happens without warning and can have devastating results. While disability insurance can be of benefit for a more immediate and short term injury or illness, critical illness coverage ensures that you are looked after if you or your employees are diagnosed with a more serious, long term condition. It can help you in your treatment plan to get better as well as keep your finances healthy.
Life Insurance Benefits
Many carriers provide a mandatory level of life and accidental death insurance for each of your employees. While we believe that employees should have their own private coverage based on individual family needs, we can recommend various levels of insurance to help you feel comfortable that you’ve provided assistance should a tragedy ever occur.
Employee Assistance Program (EAP)
The emotional well-being of your employees is as important to the success of your business as their physical health. An EAP can help you and your employees deal with difficult family or relationship problems before they lead to missed time, lost productivity, or even a long term disability claim.
Business Health
We are pleased to provide businesshealth to our clients. Their website helps clients identify issues and opportunities in health benefits and healthier workplaces. The site contains an Articles button that gives you access to all previous issues of businesshealth and with the Search box, you can search a topic of interest to you. Topics are explored by experts, and include executive, financial,and occupational health perspectives. The dedicated focus of businesshealth on workplace health issues will complement your other information sources, and will encourage "big picture" thinking by integrating and prioritizing your total spending on health benefits, Workers' Comp, occupational health and safety, and EAP. We hope you enjoy reading and exploring the businesshealth website.
