Group Benefits

Medical

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Inforte Group is pleased to provide a full range of coverages for you and your employees.
Our carriers affiliation:
• Aetna
• Anthem Blue Cross
• Blue Shield of CA
• California Choice
• Health Net
• Kaiser Permanente
• Kaiser Permanente Choice Solution
• SeeChange Health
• Sharp Health Plan
• United Healthcare / PacifiCare

Dental

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Inforte Group is pleased to provide a full range of coverages for your personal and family medical needs.

Our carriers affiliation:
• Aetna
• AIG
• Anthem Blue Cross
• Blue Shield of CA
• California Choice
• Cigna
• Delta Dental
• Guardian
• Golden West
• Health Net
• Humana Dental
• Kaiser Permanente
• Kaiser Permanente Choice Solution
• MetLife
• Principal
• Genworth
• United Healthcare / PacifiCare

Vision

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Inforte Group is pleased to provide a full range of coverages for your personal and family medical needs.
Our carriers affiliation:
• Anthem Blue Cross
• Blue Shield of CA
• EyeMet thru Delta Dental
• Health Net
• Humana Vision
• Principal
• SafeGuard
• United Healthcare
• VSP Vision Plan

Supplemental Health Benefits

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Group Short Term Disability

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Group Long Term Disability

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Group Term Life

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Group AD & D

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Qualified Pension Plan

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Qualified Pension Plan is a plan that meets the requirements of Internal Revenue Code Section 401(a) and the Employee Retirement Income Security Act of 1974 (ERISA) and is thus eligible for favorable tax treatment. These plans offer several tax benefits:
• they allow employers to deduct annual allowable contributions for each participant;
• contributions and earnings on those contributions are tax-deferred until withdrawn for each participant; and
• some of the taxes can be deferred even further through a transfer into a different type of IRA.

Types of Qualified Pension plans such as:
Defined Benefit
This is a company retirement plan, such as a pension plan, in which a retired employee receives a specific amount based on salary history and years of service, and in which the employer bears the investment risk. Contributions may be made by the employee, the employer, or both.

Defined Contribution
This is a company retirement plan, such as a 401(k) plan or 403(b) plan, in which the employee elects to defer some amount of his/her salary into the plan and bears the investment risk.

401K
This is a defined contribution plan offered by a corporation to its employees, which allows employees to set aside tax-deferred income for retirement purposes, and in some cases employers will match their contribution dollar-for-dollar. Taking a distribution of the funds before a certain specified age will trigger a penalty tax. The name 401(k) comes from the IRS section describing the program.

Roth 401k
This is a contribution-based retirement account, which combines features of the traditional Roth IRA and 401(k) plan accounts. The Roth 401(k) contains many benefits for employees, such as being able to contribute post-tax money, but many companies do not yet offer this as a retirement plan option, due to the increased amount of work it takes to maintain this plan. Companies were given the option to begin offering this plan in 2006.

Simple 401K
This is a retirement plan sponsored by employers which is favorable towards employers, as it avoids some of the administrative fees and paperwork of plans such as a 401(k) plan. Employers benefit from the tax-deductible contributions made to the plan, and employees may elect to have salary deferrals in order to contribute to the plan. The employer has the option of matching a certain portion of the employee’s deferrals or making non-elective contributions to all eligible employees (an annual limit applies in both cases). A minimum compensation eligibility requirement exists for employees who want to join this plan, and employees cannot establish any other qualified retirement plans at the same time.

SEP IRA
This is a retirement program for self-employed people or owners of companies with less than 25 employees, allowing them to defer taxes on investments intended for retirement. This plan allows employers to contribute on behalf of eligible employees, and all contributions are tax-deductible as a business expense and can be integrated with Social Security contributions. In addition, there is no minimum contribution requirement.

Group Long Term Care

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Employers may offer group long term care insurance plans to employees. There are several pros and cons to consider group long term care insurance depending on your needs and qualifications.

If you are young and healthy, it may be cheaper to qualify a policy with your spouse and enjoy the spousal discount offers by most carriers. As many group long term care policies allow retirees, spouses, parents and parent-in-law to apply, so the average premium may be higher for younger employees with good health history.

Key Person Insurance

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Key person insurance, also formerly called key man insurance, is an important form of business insurance. There is no legal definition for “key person insurance”. In general, it can be described as an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of the member of the business specified on the policy. The policy’s term does not extend beyond the period of the key person’s usefulness to the business. The aim is to compensate the business for losses and facilitate business continuity. Key person insurance does not indemnify the actual losses incurred but compensates with a fixed monetary sum as specified on the insurance policy.

An employer may take out a key person insurance policy on the life or health of any employee whose knowledge, work, or overall contribution is considered uniquely valuable to the company. The employer does this to offset the costs (such as hiring temporary help or recruiting a successor) and losses (such as a decreased ability to transact business until successors are trained) which the employer is likely to suffer in the event of the loss of a key person.

Key Person Disability

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Key Person Disability Insurance provides crucial benefits for any functioning business to protect the company from financial hardship that may result from the loss of a key employee due to disability. Key Person coverage provides cash flow to help a company move forward and maintain a profit in the event a key employee becomes disabled. The company could use the disability benefits to hire a temporary employee should the disabled employee’s prognosis appear to be a short-term disability. In the unfortunate circumstance of a permanent disability, benefits would then be used to help defray the costs related to hiring a replacement employee, such as recruitment, training, startup, loss in revenue and unfunded salary continuation costs.

Overhead Expenses Insurance

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Business Overhead Expense (BOE) coverage is designed to reimburse a business for overhead expenses should the owner experience a disability. Eligible benefits include: Rent or mortgage payments, utilities, leasing costs, laundry/maintenance, accounting/billing and collection service fees, business insurance premiums, employee salaries, employee benefits, property tax, and other regular monthly expenses.

Buy Sell Agreement Funding

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A buy-sell agreement, also known as a buyout agreement, is a binding agreement between co-owners of a business that governs what happens if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. It may be thought of as a sort of premarital agreement between business partners/shareholders or is sometimes called a “business will”. An insured buy-sell agreement, (triggered buyout is funded with life insurance on the participating owner’s lives) is often recommended by business succession specialists and financial planners to ensure the buy-sell arrangement is well-funded and to guarantee there will be money when the buy-sell event is triggered.

A buy-sell agreement consists of several legally binding clauses in a business partnership or operating agreement or a separate, freestanding agreement, and controls the following business decisions:
• Who can buy a departing partner’s or shareholder’s share of the business (this may include outsiders or be limited to other partners/shareholders);
• What events will trigger a buyout, (the most common events that trigger a buyout are: death, disability, retirement, or an owner leaving the company) and;
• What price will be paid for a partner’s or shareholder’s interest in the partnership and so on.

Buy-sell agreement can be in the form of a cross-purchase plan or a repurchase (entity or stock-redemption) plan. For greater neutrality and effectiveness of the buy-sell arrangement, the service of a corporate trustee is recommended.

3 Waters Park Drive, Suite 229
San Mateo, CA 94403
650 571 8882 | info@infortegroup.com
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