Many businesses find a way to know the cost and benefits of each of the purchases they make, except when it comes to their healthcare plans.

Colony West goes further by structuring custom-designed plans that will most effectively meet your unique needs and business characteristics. What we most often hear from new customers is, “Really? I didn’t know that was possible”. Our products/coverages run the complete range:

• Medical
• Voluntary
• Dental/Vision/Life
• Wellness implementation
• Technology Integration (for Admin, Enrollment, Compliance)
• Pre-taxed plans

We Service Group Benefits in 3 Distinct Ways

Plan Design: It all starts with gaining a deep understanding of our customers and their staff, then balancing the wants and needs of ownership, staff, the marketplace and the regulatory environment. So much of what we achieve for a client is often accomplished at this starting point. This process continues each year as our customers change, the market changes and of course as the regulatory environment changes. To accomplish a perfectly structured and balanced plan we look at:

• contribution strategy and theory
• strategy and goals with regard to exec comp vs rank & file comp
• unmet wants/needs of current plan
• future growth plans of the company
• is plan in compliance and what is needed to be in compliance
• is plan fully tax advantage
• what is ownership’s appetite for risk and is self-funding a viable option
• perform a network optimization analysis
• defined contribution/private exchange options
• uncovered medical exposure for overseas travelers
• HRA/HSA/FSA options

With this information we most often find that we can provide superior coverage at a reduced cost for our clients. Sometimes we bring in a totally new carrier or plan design with supportive products and services, while other times we can achieve radical results while leaving most of the current plan in place.

Compliance: Whatever the future holds for Health Care Reform, one thing you probably agree on is that regulation of some form or another will continue to exist, and that it will change on a regular basis. We help businesses stay in compliance either with tools they can utilize on their own or proactively managed compliance services. We advise clients to live by the rule that no good deed shall go unpunished, so we help them with matters such as:

• Controlled group determination and exposure
• Applicable large employer determination
• Metal level equivalency/minimum value/actuarial value of current medical plan(s)
• Wellness strategies under ACA minimizing exposure under ACA Education on Affordable Care Act and impact (High-Level) measuring full-time equivalency
• Determination of Shared Responsibility Exposure
• Determination/Measurement Periods for:
• Full-Time Employees
• Variable Hour Employees
• Season Employees
• Affordability Calculator (Employee Portion of Premium ≤ 9.5%)
• ERISA
• Form 5500

Plan Service: Very often we take on new customers who simply need better service and who are impressed with our high level of responsiveness, hands-on service and in particular, the way we help them automate and integrate their benefits administration, payroll functions and even automated employee management & administrative functions. Following is some of what we bring to the table:

• Online Benefits Enrollment
• Benefits Administration
• New Hire & Termination Changes
• Claim Ombudsman
• Integrated Payroll Solutions
• Time & Attendance
• Automated Workforce Solutions
• Annual Plan Review & Remarketing

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