At Wood Street Partners, Inc, we are experienced in providing employee benefits solutions and insurance programs to businesses of all sizes. Our professionals work closely with each client, drawing upon our experience and expertise to help you make the best choices, and to ensure that you have the right kind of insurance coverage to meet yours and your employees' needs. We provide a full range of services at each step of the process:

Proposals & Renewals

• Review and analyze current coverage
• Review loss activity and past services provided
• Assist with negotiating renewal rates
• Prepare proposal, highlighting comparisons of benefits, coverage and costs.

Implementation

• Liaise with Insurance carrier to obtain benefits and enrollment information
• Conduct meetings with employees to review new plan details

Administration

• Assist with claims

Group Benefits - Companies With Up To 50 Employees

The professional staff at Wood Street Partners can assist you with obtaining the following benefits to meet your needs:

• Health
• Dental
• Life
• Vision
• Short & Long Term Disability
• Long Term Care
• Section 105 & 125
• Other Supplemental Benefit Products

We are experienced in providing health benefits solutions to businesses of all sizes Our satisfied clients attest to our success in helping their businesses save on the cost of their health benefits.

• Flexible Spending Accounts (FSA's)
• Medical Savings Accounts (MSA's)
• COBRA - Rate Calculation and Administration
• HIPPA Compliance
• Enrollment and Eligibility Maintenance

A self-funded health plan is one in which the employer assumes direct responsibility for providing health care benefits to its employees; that is, the employer pays for employee medical costs as they are incurred rather than paying a fixed premium to an insurance carrier for “fully insured coverage.” Self-funded plans are subject to the Employee Retirement Income Security Act (ERISA), which requires that each benefit transaction follow the coverage provisions outlined in the plan document. These plans are also protected by HIPAA Privacy, Security, and Portability rules.

Employers are choosing self-funded plans because of the economic advantage, the high level of control, and flexibility. Self-funded plans allow them to actively participate in their company's employee health care coverage, allowing them control over both the design and financing of the plan. Employers can customize the plan benefits to suit the needs of employees in line with the company’s financial goals. In a self-funded plan, the employer can either fund expenses as they come due or deposit expected or maximum costs into an account each month.

For protection against catastrophic claims, the employer may choose to purchase stop-loss or excess-loss insurance. There are two types of coverage for catastrophic claims:

• Specific Coverage - covers catastrophic claims on one covered person
  
• Coverage - covers claims that significantly exceed the expected level for the group of covered persons.

Wood Street Partners can help you determine whether self-funding is right for your company. We will start by reviewing and analyzing your current benefits plan, premium rate history and your employee census. We will then will make recommendations, and help you design a plan that will meet the needs of your employees. We will also assist you with obtaining adequate stop-loss coverage. Once the new plan is in place, we will administer all claims on behalf of your group, and issue claims payments on your behalf.

Self-funding plans are flexible - the plan design can be changed from year to year to reflect your company’s financial goals, as well as your employee’s changing needs. Wood Street Partners will work with you on an ongoing basis to always ensure that your self-funded plan focuses on providing the benefits your employees need while maintaining a profitable bottom line.