For more than forty years, the NFADA has offered a full brokerage service to member dealers, at no cost, to ensure that dealership employees are receiving the very best options at the most competitive prices available in Western New York. Our Benefit Staff includes two full-time enrollment/cobra/premium administrators and three experienced licensed brokers/employee benefit specialists. Collectively, we hold licenses in Life, Health, Accident, Travel, Property & Casualty, and Personal Lines (Homeowners and Auto Insurance). Our five-person benefits staff have experience of fifty, forty, thirty, ten, and under ten years, respectively. Few brokerage firms can offer that kind of experienced and knowledgeable team, and none specialize in benefits for new car franchise dealers. We understand the nuances of your business, and we can provide creative solutions for all your benefit needs.
1) Health Insurance – Our twenty million dollar ($20,000,000) portfolio includes very competitive options for “large group” and “small group” employers, as defined by the New York State Department of Financial Services:
a) Large group – We offer a very successful experience-rated fully insured program under the NFADA Employees Health and Welfare Trust umbrella. We conduct an annual RFP for our trustee board to review and ratify a host of plans from which participating employees may choose. Participating employees are required to complete a free annual Wellness Program to help control claim costs. This large group consortium is very well managed, and has consistently outperformed similar plans, boasting several years without premium increases, and even a premium reduction one year. We are available to assist employees throughout the year with questions regarding benefits, claims, and any benefit-related issues, removing that burden from your HR Manager or Controller. We also administer COBRA at no additional charge.
b) Small group – We review all community-rated options and make plan recommendations to each dealer based on their respective demographics and priorities. We assist each member dealer with their contribution strategy, employee communication, and we conduct both on-premise and virtual open enrollment meetings for all locations. We are available to your employees through the year to assist with questions regarding benefits, claims, and any benefit-related issues. This is particularly valuable in small to mid-size dealerships, where your office manager is already wearing many hats. We also administer COBRA at no additional charge.
2) Dental Insurance – We sponsor and manage a self-funded dental plan administered by The Guardian. This is a very comprehensive dental plan which pays the highest percentage of claims of any plan. The Guardian administers nationally, with no annual limit on children’s orthodontia. Prudent plan management has allowed us to enhance benefits while consistently offering 0% annual premium increases. This is a voluntary benefit, with employees responsible for 100% of premium through their weekly pre-tax payroll deductions.
3) Vision Insurance – At the request of dealership employees, we added a fully insured vision plan, administered by The Guardian to our benefit portfolio. This is a comprehensive, yet very inexpensive plan; allowances include annual eye exams, lenses and/or contact lenses, and frames every other year. This popular program has no minimum participation requirement. This is a voluntary benefit, with participating employees responsible for 100% of premium through their weekly pre-tax payroll deductions.
4) Group Term Life Insurance – For a nominal cost to the dealership, we offer a Guardian group term life insurance plan which provides $15,000 of life insurance and $15,000 of accidental death and dismemberment insurance to all dealership employees who regularly work 30 or more hours.
5) Supplemental Term Life Insurance – Any employee covered by our Guardian Group Term Life Insurance plan may elect to purchase additional supplemental term life insurance for themselves, their legal spouse, and eligible dependent children. This is a voluntary benefit, with employees responsible for 100% of premium through their weekly pre-tax payroll deductions. There are guarantee issue amounts for employees and their eligible spouses, with Evidence of Insurability required for amounts in excess of the guarantee issue amount.
6) Short Term Disability Insurance – We offer a Guardian Short Term Disability policy to provide partial income replacement for employees who are out of work for an extended period due to illness or injury. This is a voluntary benefit, and employees may elect coverage at two different levels, depending on their budget and their family’s needs.
7) Specified Disease Insurance – Employees may elect to participate in a voluntary “Specified Disease Insurance” plan that may help them cover expenses not covered by their health insurance. An employee may purchase “self-only” coverage or may elect to purchase a policy that also covers their dependents. This program is particularly appealing to employees who have a family history of cancer, vascular issues, or organ failure. With so many employees participating in high-deductible health plans today, the amounts paid by a Specified Disease policy when participants are diagnosed with these critical conditions can help them manage the financial burden of their claims so they can focus on their health and recovery.
8) Accident Insurance – Employees may purchase an Accident Insurance policy to cover themselves or their entire families. The Guardian offers a basic plan, or a “value” plan, which pays a slightly higher amount when participants incur certain accident-related expenses. The accident insurance benefit checks can help participants cover the portion of the claim not covered by their health insurance policy, or they can be used for whatever financial needs the participant may have. The benefit checks are payable to the plan participant, regardless of whether they incur any out-of-pocket claim expenses or not.
9) HR Hotline – For all dealers who participate in any of the aforementioned items, we provide a free confidential Human Resource Hotline through PeopleSystems, Inc. This service is particularly valuable in today’s world of increasing regulations. They can assist your HR staff with questions regarding FMLA, PFL, New York State Paid Sick Leave, minimum wage and overtime regulations and much more.
For more information or questions send us an email.