HBCU Student Health Insurance
Meeting the Needs of the Clients
An in–depth initial analysis of all existing benefit plans with timely recommendations relative to enhancements and revisions.
- Annual review and marketing of all plans to ensure placement of the most competitive products, services, and rates/ factors.
- Annual on-site employee meetings for purposes of open enrollment. New employees orientation/enrollment meetings are scheduled upon request. Employee meetings conducted when new plans are introduced or when there is a mid-year change in existing plans and/or benefits.
- Assist where needed in the coordination of Section 125 Cafeteria Plan with multiple Flexible Spending Accounts. Multiple plans include pre-taxation (exempt from all State, Federal and FICA withholdings). Strict compliance is maintained with State and Federal mandates for Cafeteria Plans — annual testing, disclosure, and ongoing procedure compliance.
- Annual Employee Benefit Statements for the benefits handled by B & M Financial Services personalized for each employee and customized to plan specifications of the client’s employee benefits plan following open enrollment.
- Completion of annual 5500 for all plans handled by B & M Financial Services (those with an excess of 100 employee lives except for Cafeteria Plans requiring all size employees to file) as wells as preparation of required Summary Annual Report for distribution to plan participants (over 100 employee lives).