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Employee Benefits

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What is Professional Liability insurance?

Our access to underwriters, experience and expertise will help ensure that your employees are provided with the most appropriate and cost efficient employee benefits.

First Underwriters has employee benefits experts who can consult with you to craft an employee benefits program that meets the objectives of your organization.

Our consulting services include plan design, funding analysis, marketing to underwriters, plan implementation support and all related administrative services.

We serve businesses of all sizes and offer access to quotes from the federal and state run exchanges of the Affordable Care Act. In addition, we are prepared to advise clients who are interested in self-insurance or the implementation of a voluntary employee paid benefits offering to their employees.

First Underwriters is licensed to do employee benefits business and has strong working relationships with all of America’s leading employee benefit underwriters.

Please contact us to receive a complimentary, no obligation review of your current employee benefits plan with a competitive quote from our underwriters.

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Frequently Asked Insurance Questions

Employer-sponsored health insurance coverage for employees and often their dependents. Employers and employees can share costs, and there are tax incentives to businesses that provide group health coverage. Plans can be fully-funded by a health insurance carrier, which are state-regulated, or self-funded by the employer, which are federally regulated. Carriers offer a number of group plans with varying options for deductibles, co-pays, annual limits, eligibility and provider networks.

Employer-sponsored insurance that pays a portion of the costs associated with dental care, such as preventative cleanings, orthodontia and restorative services. Insurance carriers offer plans with varying options for deductibles co-pays, annual limits and provider networks.

Employer-sponsored insurance covering a portion of an employee’s earned income when that employee becomes unable to work due to a disabling illness or injury. Typically, short-term plans provide up to six months of financial support, and long-term plans provide support until the employee is considered permanently disabled. For both plans, there is usually a waiting period before benefits start.

A tax-advantaged account allowing an employee to set aside a limited portion of earnings to pay for qualified medical and dependent care expenses. An FSA is commonly offered with a traditional group health insurance plan to pay for out-of-pocket expenses the plan does not cover. FSA money can be accessed with a debit card, or the employee is reimbursed after filing a claim. Unused money at the end of the plan year does not roll over.

A tax-advantaged savings account available to employees enrolled in a high deductible health plan and used to pay for qualified medical expenses. Unused funds roll over and accumulate year to year because the account is owned by the employee. HSAs can be funded by the employee, the employer or both, and there is an individual and family annual limit to the amount that can be deposited.

Life insurance is an insurance policy that provides, in exchange for monthly, quarterly, or annual premium payments, a lump sum of money to the designated beneficiary of an employee who dies.

Employer-sponsored insurance that pays a portion of the costs associated with vision care, such as eye exams. Insurance carriers offer plans with varying options for deductibles co-pays, annual limits and provider networks.

For small businesses, there are a number of key benefits when you purchase long-term care insurance on a ‘group’ basis. There can be significant tax benefits. There can be savings benefits since you may be able to qualify for a group discount on the very same policy you would purchase on an individual basis. If your group meets certain criteria, you may be eligible for more simplified health underwriting.

For larger businesses, offering long-term care insurance as a workplace benefit can be an integral part of your strategy to recruit and retain the best talent, contain costs, and enhance employee productivity. Offered as a voluntary benefit, this protection can provide significant and potentially life-changing benefits for your employees without cost to the company.

A section 125 plan is part of the IRS code that enables and allows employees to take taxable benefits, such as a cash salary, and convert them into nontaxable benefits. These benefits may be deducted from an employee’s paycheck before taxes are paid. Cafeteria plans are particularly good for participants who have regular expenses related to medical issues and child care.

Our Voluntary Benefits Team manages the marketing, enrollment, education and ongoing program administration of voluntary plans so employers can offer competitive and diverse benefit options. Our consultants offer expert analysis and market solutions that help in building quality plans and programs.

Our team provides guidance on ACA compliance, along with an Affordable Care Act tookit.