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It’s important for every business owner/operator to understand the rules and regulations governing their business regarding health insurance and employee benefits. Some businesses are required to offer Group Health Insurance under the Affordable Care Act while others are simply encouraged to. All employees/individuals are required to have Health Insurance or pay a fine. The rules and regulations change all of the time—what’s a business owner to do? Krum Insurance & Financial Services, LLC can help you!

The cost of a full-time HR expert is usually outside the company’s budget, let alone the cost of non-compliance. We provide budget friendly solutions that will keep you compliant! Offering a competitive benefits package adds value to your company and is a strong employee retention strategy. Krum Insurance & Financial Services, LLC will help you understand the regulations, navigate the possibilities, identify efficient funding strategies, and handle all of the paperwork.

Some of the most popular employee benefits are:

  • Medical Plans—Health Insurance for you and your employees. We offer plans from Independence Blue Cross, Aetna, United Health Care and others.

  • Ancillary Policies—Dental, Vision, Life, and Accidental Death & Dismemberment policies that can be paid by the employer or the employee.

  • Disability Insurance—Insurance that protects your income. Every business owner should have Disability Insurance. Both long and short term disability insurance options are available.

  • 401(K)—a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. It also permits the employer to contribute to the employees’ account within certain guidelines and is often seen as a successful employee retention strategy due to “vesting” periods.

  • FSA or Flexible Savings Account—a tax-advantaged account for healthcare expenses that is a valuable benefit to your employees by permitting them to use pre-tax earnings for medical expenses. This is usually part of a Cafeteria Plan or Section 125 Plan.

  • HRA or Health Reimbursement Account—a cost saving option that reimburses employees for medical expenses. The money set aside for healthcare use is tax-deductible by the employer.

  • HSA or Health Savings Account—a tax-advantaged option for people with high-deductible health insurance plans; employees can put money into the account which is not subject to Federal Income Tax.

  • Section 125 or Cafeteria Plan—designed to take advantage of the Internal Revenue Code Section 125 which allows Employees to pay health insurance premiums on a pre-tax basis. Employers can deduct 100% of medical, dental, and vision care expenses for eligible employees and their family.

Krum Insurance & Financial Services also offers ACA Compliance services, COBRA Administration and HIPAA Compliance services.

Insurance-related products or services are not offered through H. Beck, Inc. 

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