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Employee Benefit
Services
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Employee benefits are fast becoming
the single largest employee issue in our country today.
Access1Source has several solutions for this growing concern.
Access 1Source will manage the administrative and payment functions
for all types of benefits. We
can administer your current Health Plan, 401K, Simple IRA,
Workman’s Compensation, Christmas club, or Cafeteria 125 Plan.
Additionally, we can offer any of
these employee benefits through our many provider partners and alliances.
One program we offer is an employee discounts program featuring
medical, dental, optical, and prescription discounts to employees and
their families. As low as $11.95 per month the discount program can be
employer sponsored, payroll deducted or a combination employer and
employee paid.
A
business is only as good as its people. Therefore, Access1Source offers a
complete package of employee benefits that can help you not only attract,
but also retain key employees vital to your success.
Pre-Tax
Plans
Access1Source's Premium Only Plan (POP), Flexible Spending Account and
Section 132 plans allow your employees to pay for specific items with
pre-tax dollars, increasing their take-home pay and reducing your taxable
income.
Section
125 Plans
Also known as Premium Only Plans, POPs reduce employee
taxes as well as employer matching FICA taxes for group insurance
(typically health) premiums. By pre-taxing their share of premium costs, employees save up to 35% depending on their tax bracket. As an employer,
you save on the matching Social Security and Medicare (FICA) and
unemployment taxes for approximate savings of 8%.
Flexible
Spending Account
The FSA principle is the same as the POP. Yet, an FSA allows you to expand
the range of pre-tax deductions to include dependent care, dental, vision
care, as well as out-of-pocket medical expenses such as deductibles and
co-payments.
Dependent
Care Plan
A dependent care plan allows you to pay day-care expenses with pre-tax
dollars. This is big - your employees can save thousands and so can you.
For employees with growing families or senior care responsibilities, a
dependent care plan is a great way to reduce the financial burden on your
employees. The result is a more content and more productive workforce.
Medical
Expense Reimbursement
This plan allows employees to pay for out-of-pocket medical expenses not
covered by insurance like: deductibles, co-payments, prescriptions, dental
expenses, vision care, glasses, contacts, etc. Again, this plan puts more
money in the employee's pocket and reduces your payroll taxes.
Retirement
Plans
From 401(k) s to IRAs, Access1Source can assist you in selecting the right
retirement savings program. We can guide you from enrollment and
administration all the way through the selection of investment options.
Workers'
Compensation Insurance
Simplify your Workers' Compensation headache. Forget about large down
payments, audits, or high rates. Let Access1Source determine your actual
premium cost each pay period with Pay-As-You-Go-Workers’ Compensation
Insurance.
Purchasing
Workers' Compensation insurance is a necessary, but often-painful
experience. Many companies looking for Workers' Compensation coverage are
hit with large up front premium charges.
These "down payments" commonly start at 25% and can be as
much as 100% of the estimated premium.
With Pay-As-You-Go-Workers' Compensation coverage through
Asscess1Source, a business owner pays down payments based upon an actual
payroll volume. You can
forget painful year-end audits, or big finance charges.
Pay-As-You-Go-Workers’ Compensation eliminates the initial outlay
of cash and increases your cash flow.
The premium calculation is based on actual subject wages on a per pay period basis.
The
Pay-As-You-Go-Workers’ Compensation service is linked directly to the
Access1Source payroll system and allows a business owner to budget more
accurately and eliminate the potential for large surprise year-end audits
should your payroll change.
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