Employee Benefits | HIA Financial

A Healthier Workforce for Your Business

A successful business requires a healthy, talented employee workforce. By offering benefits packages to your employees, you are ensuring the health of your business is managed and maintained. We now offer more HR services than any other brokerage firm. We’ll help you design a cost-effective package to retain talent and reduce turnover.

Tools for Success

We’ll provide you with the tools you need, and even do the main of the legwork for you, to set up and administer your health plan. Benefit communication, reporting, and all of your HR essentials provided on your own custom employee benefit portal website.

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Compliance Services

We provide all the tools and resources possible to ensure your employer-sponsored benefits are up-to-date with the ever changing regulations. We’ll provide compliance auditing, analysis, and solutions to improve the quality of your benefits and keep you in the clear.

External HR

Ever feel like you need someone on the outside to handle your Human Resource functions? Sometimes personal health information can come too close at work, leaving employees feeling uncomfortable to discuss an insurance issue when things go wrong. That’s where we come in. Offering more HR services than any other firm, we’re your employees’ external and confidential channel for resolving claims and benefit inquiries.

Forms and Information

Get Started

Small group rates (under 50 lives) are based on the location of the business and age of the employees at time of enrollment.

Get started by downloading our Small Group Census Form to collect the basic employee and employer information used to quote.

Benefit Notice Requirements

Employee Benefit Notice Requirements for 1-19 Employees

Employee Benefit Notice Requirements for 20-49 Employees

Employee Benefit Notice Requirements for 50+ Large Group

Insurance Company Forms

Blue Cross Blue Shield of Michigan (BCBSM)
General Forms and Information
Change of Status Form

Delta Dental of Michigan
Delta Dental of Michigan Billing Calendar
Delta Dental Claim Form
Eligibility Enrollment Form

VSP
Find a doctor
Manage

Quickly update member eligibility. Add, Reinstate, Terminate, Edit, Transfer.

Online Billing

View and manage your bills online.

Reporting

View and download customized reports of your organization’s benefit utilization and claim information.

Enhance Your Plan

Optimize your plan with custom features and supplemental plans designed to: increase utilization, lower employee out-of-pocket costs, and promote a healthy and safe workforce.

Types of Health Plans

Preferred Provider Networks (PPO)
This plan encourages you to use in-network providers and gives you discounts when you do. It allows you to choose any in-network provider without requiring referrals. It covers out-of-network providers with higher co-payments and deductibles.

Health Maintenance Organization (HMO)
With HMO plans, you build relationships with doctors in the network. These plans have lower out-of-pocket costs, pay benefits only for in-network providers, and out-of-network coverage is provided only for emergencies.

Point of Service (POS)
Choice is the centerpiece of these flexible plans, which allow you to go in-network or out. While out-of-pocket costs are reduced by choosing in-network providers, out-of-network coverage is also available at a higher price.

High Deductible Health Plans
This plan helps you balance your health and financial well-being. It features low premiums and an integrated deductible for both medical and pharmacy costs. Typically compatible with the Health Savings Account (HSA), it gives you solid healthcare coverage and greater control over healthcare spending.

Worksite Plans

Offer voluntary benefits to complete your benefit packets. This could include life insurance, short-term and long-term disability insurance, dental insurance plans, and vision insurance plans.

Health Reimbursement Arrangment (HRA)

Employer-funded plans that reimburse employees for incurred medical expenses that are not covered by the company’s standard insurance plan. Because the employer funds the plan, any distributions are considered tax deductible (to the employer). Reimbursement dollars received by the employee are generally tax free. As a benefit, an employee may be reimbursed for qualified medical expenses from his or her employer. The funds received are tax-free, but because the plan is employer funded, the employer has the right to cancel or alter the distributions at any time. In spite of this, many employees consider HRAs as a valuable benefit given the rising cost of health care.

Health Savings Account (HSA)

HSA plans have two primary components – health insurance coverage and a tax-advantaged savings account. You can use the money in the savings account to pay for your current health expenses, but you also own the money in the account regardless of whether your health coverage changes or you move to another city. These plans offer an opportunity to build tax-advantaged savings for both current and future health expenses.

Flexible Spending Account (FSA)

Health Care & Dependent Care FSA
HIA offers Flexible Spending Account administration for all group health plan clients. A Flexible Spending Account lets employees set aside pre-tax money from their paychecks to spend on healthcare expenses not covered by their insurance policy. Money that goes into an FSA is pre-tax, so employees can save as much as 40% of each dollar they put into the account, as long as they spend the money in the account on qualified health costs.

Employers save on reduced FICA tax by the employees’ reduced taxable wages, offering the business an additional 5 to 15% savings.

Profit Sharing Plans with 401(k) Option

These plans give employees a share a chance to share the profits of the company on a flexible basis. Each employee receives a percentage of those profits based on the company’s earnings. This is a great way to give employees a sense of ownership in the company. The company decides what portion of the profit will be shared. There are typically restrictions as to when and how you can withdraw these funds without penalties.

Non-Qualified Retirement Plans - Executive Bonus

Executive Bonus Plans
Reward the employees you want with an Executive Bonus Plan. Under an Executive Bonus Plan, an employer purchases and pays for a life insurance policy for a select group of employees. The employer pays for the policies via a pay raise to the employee(s) equal to the policy premium, and in some cases an additional bonus to cover the income tax on this additional pay. The employer is able to pick and choose specific employees to participate in the plan. Employees have full rights to the policy and its cash value and can take tax-free income from the policy in the future. As a way to increase the plan’s retaining power, a restrictive endorsement and vesting schedule may be added.

Benefits to the employee:

Employee owns the policy and has control over the cash value and naming of the beneficiary;
Tax-free income is available from the policy via partial withdrawals and loans;
Cash values and policy values accumulate tax-deferred;
Employee chooses timing and amount of withdrawals;
Tax due on the bonus can be covered by an additional bonus from the employer;
Contribution limits are flexible

Benefits to the employer:

Rewards key employees in a discretionary manner;
Easy to implement and maintain;
Premiums are immediately tax-deductible; and
Employer is not obligated to make premium payments

Deferred Compensation Plan - Non-Qualified Retirement

Deferred compensation is defined as the amount of earned income that is payable at a later date. Most deferred-compensation plans allow the wage earner to defer tax now so that the funds can be withdrawn and taxed at some point in the future. The most common form of deferred compensation is a retirement plan. Deferring income allows the earner to use the income later in life when they have a lower tax rate. Other examples include pension plans and stock-option plans.

Monthly HR Cast

An HR Support Center Cast will be posted each month providing tips and suggestions on how to improve your HR department. Take a listen!

Four Ways to Improving Workplace Cultures

by the HR Pros

Four Ways to Improving Workplace Cultures

by the HR Pros

Financial Calculators

View our calculators measuring average cost-per-hire, employee turnover, applicable overtime rates, cost of absenteeism, and more.

HR Calculators

Reminder: PCORI fee due by July 31

The Patient-Centered Outcomes Research Institute (PCORI) fee helps fund research that evaluates and compares health outcomes, clinical effectiveness, risks and benefits of medical treatments and services. The fee, which is effective 2012-2019, is treated...

IRS announces family contribution changes for HSAs

Today, the IRS published that contains Revenue Procedure (Rev. Proc.) 2018-19. Effective for calendar year 2018, the family contribution limit for HSAs has been lowered to $6,850 from the previously set amount of $6,900. This change came as a result of the tax reform...

W-2 Reporting

PPACA requires employers to report the cost of coverage under an employer-sponsored group health plan on an employee’s Form W-2, “Wage and Tax Statement.” This reporting is for informational purposes only to show employees the value of their health care benefits...

Distribute those SBC’s!

Summary of Benefits & Coverage A group health plan (and its administrator) must provide a summary of benefits and coverage (SBC) for each benefit package free of charge to entities and individuals for open enrollment periods starting on or after Sept. 23, 2012....

The simple solution for Benefits & HR. Easily manage employee benefits, HR information systems, compliance, payroll integration, and more, all in one organized location.

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Take Our HR Fitness Test

See what your business can do to optimize and maintain your HR department

Employer Resources

Happy Employees Have Telemedicine

This guide gives employers an in-depth look at how they can use telemedicine to their advantage, including the benefits it provides for them, like reducing health costs and increasing employee satisfaction.

Happy Employees Have Telemedicine

This guide gives employers an in-depth look at how they can use telemedicine to their advantage, including the benefits it provides for them, like reducing health costs and increasing employee satisfaction.

Download Guide