Most of us would agree that at the epicenter of every successful
business is client satisfaction. We at Chimienti & Associates have built our
foundation on helping you better serve your clients--Business Owners, Human Resource
Representatives, Benefit Plan Administrators--those responsible for securing the
best Group and Voluntary Benefit plans for their company’s employees.
As a Managing General Agent (MGA), Chimienti & Associates is fully equipped
to communicate and implement work-site benefits, including Core Benefit Enrollment
and Flexible Benefit Plans for clients you have determined appropriate. Currently,
we enjoy over one hundred such broker relationships for two primary reasons:
PRELIMINARY PLANNING
- PLANNING AND SCHEDULING - Chimienti & Associates will be responsible for working with you
in planning and scheduling your enrollment. Our benefits counselors can conduct both management and employee
information meetings.
MANAGEMENT MEETINGS
- PROGRAM OVERVIEW - The benefits counselors will explain the concept of a flexible
benefits plan and will discuss the positive effects the plan can have on the organization.
- PROCEDURES - Counselors will completely explain the enrollment procedures
to the managers, particularly the scheduling requirements for employees.
- QUESTION & ANSWER SESSION - Managers can ask questions and receive information
on all aspects of a flexible benefits plan.
GROUP MEETINGS
- PROGRAM OVERVIEW - The benefits counselors will give a short presentation
of the plan for employees. This overview will also highlight the enrollment process
and insurance companies service capabilities.
- AUDIO-VISUAL PROGRAM -The presentation can feature a flexible
benefits audio-visual program to reinforce the educational process.
- QUESTION & ANSWER SESSION - At the end of "the group meeting",
our benefits counselors will answer questions the employees may have on the plan.
- NEWSLETTERS AND WORKSHEETS - Benefit counselors can
also distribute these materials and your employees may complete the worksheet before
returning for their individual enrollment session.
INDIVIDUAL ENROLLMENT
- REVIEW CURRENT BENEFITS PACKAGE - Our benefits counselors will update
each employee on their existing benefits package. This service can result in favorable
employee relations for the organization by making the employees more aware of the
benefits that are available.
- DISCUSS FLEXIBLE BENEFITS PLAN - Counselors will then inform
and advise employees on all aspects of the flexible benefits plan, and answer any
questions they may have.
- PRESENT PREMIUM CONVERSION - Our benefits counselors will update
each employee on their existing benefits package. This service can result in favorable
employee relations for the organization by making the employees more aware of the
benefits that are available.
- REVIEW SALARY ILLUSTRATION - Counselors will then inform and
advise employees on all aspects of the flexible benefits plan, and answer any questions
they may have.
- PRESENT FLEXIBILE SPENDING ACCOUNTS - Counselors will also discuss
the flexible spending accounts with the employees, and answer any questions they
might have.
- REVIEW WORKSHEET - Counselors will review each employee’s dependent
care and medical reimbursement account worksheets to help the employees determine
which plans will be most beneficial to them.
- PROVIDE CLAIMS PROCEDURES PACKET - For each employee who chooses
to participate in the flexible spending accounts program, our counselors provide
the employees an employee claims procedures packet. This information outlines the
steps employees must take to file a reimbursement claim.
- VOLUNTARY COVERAGES - Counselors will also give the employees
the option to purchase additional coverage. These voluntary products are designed
to enhance, not replace, existing group benefits. Most of our products are eligible
for pre-taxing under a flexible benefits plan based on Section 106 of the IRS Code,
so employees can purchase these benefits with pretax dollars. All benefits selections
are completely voluntary, with no minimum participation requirements.
- COMPLETE ELECTION FORM - At the end of the enrollment, counselors
will ask each employee to sign an election form indicating their choice of whether
or not to participate in the plan. This form documents the employee’s choice of
benefits, along with the salary reduction agreement. Election forms can also serve
as payroll entry documents for your payroll department.
ENROLLMENT SUPPORT MATERIALS
- EMPLOYER ANNOUNCEMENT MEMO - We can provide you with a standardized
memo to introduce the plan to your employees. This memo presents the advantages
of the plan, and may also include the premium conversion program and/or flexible
spending accounts. This memo serves as the employer’s endorsement of the plan, as
well as an announcement of Chimienti & Associates, as the implementers. The
employer may tailor this memo as needed.
- ANNOUNCEMENT POSTERS - Specifies the time and place of the group
meetings.
- PAYROLL INSERT - Promotes the upcoming enrollment.
- BROCHURES - Explains the flexible benefits plan in an easy-to-understand
question and answer format.
- NEWSLETTERS - Three newsletters we provide are: premium conversion,
medical reimbursement, and dependent care assistance. Benefits counselors may distribute
these materials prior to the individual counseling sessions and provide detailed
information on how the flexible benefit plans may impact employees. The newsletters
on medical reimbursement and dependent care assistance contain a worksheet that
employees may use to estimate expenses. The dependent care newsletter also discusses
the advantage of pre-taxing versus taking the child tax credit. Finally, they stress
the importance of selection a proper amount for pre-taxing in order to avoid forfeiting
funds through the "use it or lose it" rule.
- SALARY ILLUSTRATION -One of the most useful tools we provide
each employee is a personalized salary illustration. From existing payroll information,
the counselor will produce an illustration for each employee that shows the impact
that pre-taxing will have on that employee’s income. It also shows how additional
amounts of pre-taxed deductions will affect taxes and net pay. The payroll information
is kept in strictest confidence, and employees see only their own illustration.
By seeing exactly how the informed decision regarding whether or not to participate.
- AUDIO-VISUAL PRESENTATION - Reinforces the educational process
during the group meetings.