Group Benefits and Insurance Solutions

A group benefit plan is an employer-sponsored package of insurance and related benefits offered to eligible employees. It commonly includes medical coverage and may also include dental, vision, life, disability, retirement-related resources, and voluntary products. Employers choose the plan structure, eligibility rules, and contribution approach, while employees generally enroll during onboarding or annual open enrollment periods.

Group benefits often include health insurance, dental, vision, life insurance, short- and long-term disability coverage, and voluntary benefits such as accident, hospital indemnity, cancer, pet, or supplemental life insurance. Employers may also provide health savings accounts, health reimbursement arrangements, employee assistance resources, payroll deductions, enrollment support, and compliance documentation. The exact package is customized to the organization’s needs.

The right plan starts with workforce needs, budget, current utilization, employee demographics, and recruiting goals. Employers should compare carrier networks, prescription coverage, deductibles, out-of-pocket limits, contribution strategies, and administrative requirements. Franklin Benefits Group can evaluate fully insured, level-funded, self-funded, HRA, HSA, and other available approaches, then explain the tradeoffs in clear business terms.

Voluntary benefits are optional products employees may choose in addition to core employer-sponsored coverage. Common options include accident, hospital, cancer, disability, life, vision, and pet insurance. In many voluntary programs, employees pay 100% of premiums through convenient payroll deductions while gaining access to group rates. Some products may allow pre-tax deductions, and many policies are portable when employment ends.

Yes. Small businesses can offer group benefits, and plan options can be structured around workforce size, eligibility, budget, and business objectives. A package may include traditional group medical coverage, voluntary benefits, dental, life, disability, or an ICHRA. Reviewing multiple carrier and funding options helps small employers build a meaningful program without adopting a one-size-fits-all design.

An Individual Coverage Health Reimbursement Arrangement, or ICHRA, allows an employer to reimburse eligible employees for individual health insurance premiums and qualified medical expenses, subject to plan rules. Employers set predictable reimbursement amounts and can vary them among permitted employee classes. ICHRA administration requires careful attention to notices, affordability considerations, class rules, documentation, and employee communication.

Employees typically enroll when they first become eligible, during the employer’s annual open enrollment period, or after a qualifying life event. Qualifying events can include marriage, divorce, birth or adoption of a child, loss of other coverage, or certain employment changes. Enrollment deadlines and documentation requirements vary by plan, so employees should review materials promptly when eligibility changes.

Yes. Franklin Benefits Group provides support for benefits-related administrative and compliance needs, including COBRA administration, ERISA plan documents, Section 125/cafeteria documents, Form 5500 reporting, ACA compliance, employee benefit statements, and HR technology resources. The team also helps employers understand plan administration responsibilities and maintain clearer employee communications throughout the plan year.