Our product offerings are robust, our complliance services run deep and our value-add service is the reason we’ve maintained the same clients for over twenty years
Small Group
According to recent census figures, small businesses (1-100 employees) account for a significant portion of the health insurance marketplace. While several small businesses are struggling to maintain group health insurance due to the Affordable Care Act (ACA), we are here to help your company to navigate the new healthcare environment.
Beckworth Beneficial can help identify the best coverage options to fit the needs and budget of your company while keeping you in compliance. We are happy to provide you with a range of back-office support services.
Large Group
As you already know, Large Group (101+ lives) has special requirements that are very different from those of Individual/Family and Small Group. Beckworth Beneficial is skilled with in-depth experience in Large Group insurance products and legislation to assist any employer.
We are here to make an employer/and or HR manager’s job easier We can help you find the right product mix for your employees and spend limitations based on premium analysis, market trends, and healthcare reform legislation. Beckworth Beneficial can also assist employers by offering services from beginning to end.
Ancillary
In today’s market, ancillary products are integral to a comprehensive and attractive benefits package that will help your employer clients retain talented employees as well as attract new ones. Beckworth Beneficial can get you quotes from the top carriers for all Ancillary products.
Worksite
Worksite benefits, also known as Voluntary/Supplemental, can help employees to protect their paycheck, assets, and lifestyle, something major medical and state disability generally cannot do alone. Worksite benefits are the key for employers who want a way to offer a comprehensive benefits package while maintaining cost control. With employee-paid benefits, employees have greater flexibility with budgeting and can often keep their benefits even if health or employment changes.
Workers Compensation
In California, employers are required by state law to carry Workers’ Compensation insurance for employees, including part-time, W-2, and most 1099 employees.
Workers’ Compensation insurance protects employers against losses due to work-related accidents and illnesses that provide injured employees with benefits to compensate for lost income due to the inability to work.
Through Beckworth Beneficial’s strategic partnership, we offer a dedicated Workers’ Compensation team with more than 75 years of combined experience.
Our specialized experts include New Business Account Executives, Renewal Account Managers, and Service Administrators, all with extensive training in the complexities of workers’ compensation. We also provide professional guidance for you and work with our carrier partners to secure the most competitive rates available.
Top reasons why Beckworth Beneficial is
your Workers’ Compensation go-to source:
We provide individualized training, both in-person and remotely, catering to your unique needs. We act as your front and/or back office, whichever is needed.
We offer you a choice of AM Best “A” rated carriers, meaning they have the financial capacity to provide necessary coverages when your company needs
it the most.
We have an in-depth knowledge of valuable in-house services offered by the carriers, at no additional cost, including but not limited to expert claims handling with dedicated Fraud Prevention Departments and flexible payment options
When you work with Beckworth Beneficial, we assist with every step, start to finish.
Life Insurance
Within organizations where key employees and valued executives are challenging to attract and retain, life insurance is a powerful and dynamic instrument. Cash-value life insurance (Section 7702, IRC) aids an organization by providing a death benefit to the company and/or loved ones and generates a tax-free stream of income often used for buy-outs, succession planning, and/or retirement strategies for owners.
Companies looking to incentivize executives may offer executive bonus arrangements. In many cases, contribution limits on qualified plans result in income shortfalls for highly compensated executives. By offering bonuses to executives in the form of premium payments, an employer can contribute to key employees a potential source of tax-free supplemental retirement income and financial protection for their beneficiaries. Meanwhile, the bonuses premiums are generally tax-deductible as a business expense.
Your employee benefits legal counsel can tell you whether this is an employee benefit plan under the Employee Retirement Income Act of 1974 and, if so, whether any additional requirements are necessary.
For federal income tax purposes, tax-free income assumes, among other things:
- Withdrawals do not exceed tax basis (generally, premiums paid less prior withdrawals)
- Policy remains in force until death (any outstanding policy debt at the time of lapse or surrender that exceeds the tax basis will be subject to tax)
- Withdrawals taken during the first 15 policy years do not cause, occur at the time of, or during the two years before, any reduction in benefits; and
- The policy does not become a modified endowment contract. See IRC Sec. 72, 7702(f)(7)(B), 7702A. Any policy withdrawals, loans, and loan interest will reduce policy values and may reduce benefits.
The deductibility of the bonus is subject to the reasonable compensation limits established by IRC Sec. 162(a).
Ask Beckworth Beneficial for a personalized illustration for details.
Compliance Services
Beckworth Beneficial partners with third-party administrators (TPA’s) that provide a variety of compliance services, including administration of:
- Premium Only Plans (POPs)
- COBRA
- Employee Retirement Income Security Act (ERISA), Form 5500 Filing and Summary Plan Description (SPD)
- Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs)
- ACA Compliance
- Free client access to ThinkHR with Mammoth, a personalized website offering valuable HR and benefits information, including: current COBRA, FMLA, HIPAA regulations; downloadable forms, legislative guides and FAQs; and more
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Beckworth Beneficial
Beckworth beneficial is an innovative employee benefits and insurance services company. Taking a consultative approach, we apply a blend of expert knowledge, competency, unmatched value-add service and proactive planning to deliver proven solutions for our clients.