With a medical reimbursement account you will no longer be caught short-handed when it comes to out-of-pocket expenses as deductibles, copays, coinsurance, eye care, hearing devices and more.
Dependent care accounts provide for the reimbursement of qualified expenses such as daycare, summer day camp and more.
By providing the peace of mind that comes with knowing that your loved ones are taken care of, the program truly lends to the well-being, as well as productivity, of each employee.
Our programs enable you and your family to save money by using pre-tax dollars to pay for your healthcare. Employers financially benefit from our programs through reduced payroll taxes, even after factoring in our fees. Under our FSA, HRA and HSA programs, employees or employers contribute funds to pay for qualified out-of-pocket healthcare expenses not fully covered by insurance, such as co-pays, deductibles, and over-the-counter medical products or for commuting costs.
Our benefits card technology allows employees to spend on the go, with no hassle of submitting paper forms.
We offer a wide range of affordable health insurance plans.
The Affordable Care Act states that all individuals must have health benefits and all employers with 50 or more full-time employees must provide coverage to all eligible employees or they are subject to fines and penalties. This can be known as “pay or play” or employer shared responsibility.
Universal offers minimum essential coverage plans, which satisfy the penalty for both the employer and the employee. Our plans are substantially less expensive than traditional medical insurance and serve as a low-cost solution. Minimum essential coverage plans allow companies to cost-effectively provide employees with health plan coverage required under the Affordable Care Act.
Employees get access to preventive care and other programs that encourage wellness, while companies avoid paying costly tax penalties for non-compliance. Implementing a low-cost plan and combining it with other consumer driven plans such as an FSA is a great way to help employees save additional dollars on out of pocket medical expenses.
Let Universal consult with you to put a plan in place that complies with the ACA and works for both your company and your employees.
The Public Health Law 3614-c and latest amendment of the Home Care Worker Parity Law in New York, home care providers are looking at ways to meet the new requirements and help improve the lives of their employees. The law establishes a minimum wage and supplemental benefit for home care aides who perform Medicaid reimbursed work for certified home health agencies, long term home healthcare programs and managed care organizations within New York City and the counties of Nassau, Suffolk and Westchester.
Universal works to provide the most cost effective benefits packages so that home health care employees can make the most out of their tax-free benefit dollars.
Our team of experts is knowledgable in all the current laws and regulations regarding employer offered benefits. Whether it be wage parity benefits, health insurance, flexible spending accounts, health reimbursement accounts, dependent care, or commuter benefits, our team will ensure that your benefit plans are up to date and compliant with all the latest governmental regulations.
We provide reporting required by the Internal Revenue Service and Affordable Care Act, as well resources for tax preparation.
Take the burden off your back and let Universal worry about governmental compliance.