Become an Employer of Choice
At Marvel HR, we recognize that every business has unique benefits needs. That's why we conduct a thorough analysis of your employee census to determine the best benefits package for your organization. By leveraging seamless benefit workflows, we implement and administer ACA compliant health benefits plans so our clients can focus more on their business.
For small to mid-sized businesses, creating a competitive benefits package can be a challenge. Marvel HR makes it easier by assisting with the education and enrollment of employees into their preferred plan. Our professionals stay on top of everything from eligibility for new hires to COBRA administration. With Marvel HR, you can rest assured that your employees will be taken care of with the best benefits plans, without the hassle of open enrollment and benefits administration.
Integrating employee benefits administration with payroll can offer numerous advantages for your company, streamlining processes and enhancing overall efficiency. One key benefit is the reduction of administrative burdens, as combining these functions eliminates the need for separate systems and duplicate data entry. This not only saves our clients time but also minimizes the risk of errors associated with manual input. Moreover, integrating benefits administration with payroll facilitates better accuracy in tracking employee data, ensuring that deductions, contributions, and withholdings align seamlessly with benefit programs. This integration can also lead to improved compliance with regulatory requirements, as the system can automatically adjust to changes in tax laws or benefits regulations. From an employee perspective, the synergy between payroll and benefits administration allows for a more cohesive and transparent experience, with easy access to comprehensive information on earnings, deductions, and benefits. Overall, the integration of these crucial HR functions promotes operational efficiency, reduces the likelihood of errors, and ultimately contributes to a more streamlined and employee-friendly workplace.
Marvel HR, as a forward-thinking insurance brokerage, excels in conducting meticulous benefits analyses to tailor custom and affordable group medical coverage for its clients. The process begins with a thorough understanding of the client's workforce demographics, health needs, and budget constraints. Marvel HR employs skilled analysts who evaluate various insurance options available in the market, considering the specific requirements of the group. Through careful data analysis and market research, Marvel HR identifies the optimal balance between cost and benefit, ensuring that the group medical coverage meets the diverse healthcare needs of the employees while remaining financially feasible for the client. By negotiating with insurance providers and leveraging industry expertise, Marvel HR goes beyond a one-size-fits-all approach, crafting personalized plans that address the unique dynamics of each client's workforce. This commitment to a tailored benefits analysis allows Marvel HR to offer group medical coverage that not only promotes employee well-being but also enhances overall cost-effectiveness for the client.
Health Savings Account (HSA): An HSA is a tax-advantaged savings account that individuals can use to contribute pre-tax money for qualified medical expenses. HSAs are typically paired with high-deductible health plans (HDHPs). Contributions to an HSA are tax-deductible, and withdrawals for qualified medical expenses are tax-free. HSA funds can roll over from year to year, and the account is portable, meaning individuals can take it with them if they change jobs.
Flexible Spending Account (FSA): An FSA is another tax-advantaged account that allows employees to contribute pre-tax dollars to cover eligible healthcare expenses. Unlike HSAs, FSAs are typically "use it or lose it," meaning funds not used within the plan year may be forfeited. However, some plans offer a grace period or a carryover amount. FSAs can cover a wide range of medical expenses, including copayments, deductibles, and eligible over-the-counter medications.
Dependent Care FSA: A Dependent Care FSA allows employees to set aside pre-tax dollars to cover qualified childcare expenses for dependents, such as day care, preschool, or after-school care. This benefit helps individuals save on eligible expenses related to the care of dependent children or disabled adults while allowing them to work.
Transportation Benefits: Transportation benefits, often provided through a program like a Commuter Benefits Plan, allow employees to use pre-tax dollars to cover qualified commuting expenses. This can include public transportation costs (such as bus or train passes) or qualified parking expenses near the workplace. By using pre-tax dollars, employees can save on commuting costs, providing a financial incentive for using public transportation or carpooling.Each of these benefits plays a role in supporting employees' financial well-being by providing tax advantages and helping to manage various expenses related to healthcare, dependent care, and transportation. It's important for individuals to understand the specific details and rules associated with each benefit to maximize their savings and take advantage of the offerings provided by their employer.
Our approach to providing dental coverage begins with a detailed assessment of the employer's requirements and the dental health needs of their employees. Marvel HR collaborates with a network of reputable dental insurance providers to secure cost-effective plans with a range of coverage options. We understand that one size does not fit all, so our skilled team works closely with employers to customize dental plans that align with their budget constraints while offering valuable benefits to their employees. Our group dental plans typically cover preventive services, basic and major dental procedures, and orthodontic care. Marvel HR's commitment to providing flexible, affordable, and comprehensive dental coverage sets us apart, ensuring that employers can offer a valuable employee benefit that promotes oral health and overall well-being within the workplace.
Marvel HR collaborates with reputable vision insurance providers to curate cost-effective plans that encompass a spectrum of eye care services. Recognizing the importance of vision health, our skilled team works closely with employers to customize plans that align with their budget while providing valuable benefits to employees. Our group vision plans typically cover routine eye exams, prescription eyewear, and even discounts on corrective procedures. By offering flexible, affordable, and comprehensive vision coverage, Marvel HR ensures that employers can provide a valuable employee benefit that supports eye health and enhances overall well-being in the workplace.
The average cost of a funeral today is roughly $7,700. The cost to cover a life insurance policy of $15,000 for your employees is around $8 an employee per month. Employers who prioritize the well-being and financial security of their employees often choose to offer group term life insurance as a valuable benefit. This type of insurance provides a cost-effective and straightforward way for employers to extend financial protection to their workforce. Group term life insurance typically covers a specified period, offering a lump-sum benefit to the employee's beneficiaries in the event of their death. One of the key advantages is that the premiums for group term life insurance are often more affordable than individual policies due to the risk being spread across the entire group. Employers can contribute to fostering a sense of security among their employees by providing this valuable benefit, helping to alleviate financial burdens during challenging times. Group term life insurance serves as a testament to an employer's commitment to the holistic well-being of their workforce, offering peace of mind and financial support to employees and their families.
Term life insurance and whole life insurance are two distinct types of life insurance policies, each with its own features and benefits.
Term Life Insurance:
Duration: Term life insurance provides coverage for a specific term or period, typically ranging from 10 to 30 years.
Premiums: Generally, term life insurance premiums are lower compared to whole life insurance. The policyholder pays for coverage during the term, and if they survive the term, the policy typically expires without a payout.
Death Benefit: If the insured passes away during the term, the beneficiaries receive the death benefit. However, once the term expires, there is no payout, and the policy may be renewed at a higher premium.
Cash Value: Term life insurance usually does not accumulate cash value over time.
Whole Life Insurance:Lifetime Coverage: Whole life insurance provides coverage for the entire lifetime of the insured, as long as premiums are paid.
Premiums: Premiums for whole life insurance are generally higher than those for term life insurance but remain level throughout the policyholder's life.
Cash Value: Unlike term life, whole life insurance policies accumulate a cash value over time. This cash value can be accessed by the policyholder through withdrawals or loans.
Death Benefit: Whole life insurance guarantees a death benefit payout to beneficiaries whenever the insured passes away, not just during a specific term.In summary, term life insurance offers coverage for a specified term at lower premiums but lacks cash value, while whole life insurance provides lifetime coverage with higher premiums, a cash value component, and a guaranteed death benefit. The choice between the two depends on individual financial goals, budget considerations, and the need for temporary or lifelong coverage.
Group Short-Term Disability Insurance is a type of insurance coverage provided by employers to protect employees against the financial impact of temporary disabilities. This insurance offers income replacement for employees who are unable to work due to a covered disability, illness, or injury, and it typically covers a short period, ranging from a few weeks to a few months. During the covered disability period, employees receive a percentage of their salary as regular benefit payments, helping them meet financial obligations and maintain their standard of living while they are unable to work. Group Short-Term Disability Insurance is a valuable component of employee benefits packages, demonstrating an employer's commitment to supporting the well-being of their workforce during times of temporary incapacity. Employers often contribute to the premiums for this coverage, making it an important aspect of their overall employee benefits offering.
Group long-term disability insurance is a type of insurance coverage provided by employers to offer financial protection for employees in the event of a prolonged disability that prevents them from working. This insurance is designed to replace a portion of the employee's income if they experience a qualifying disability, typically lasting for an extended period, such as several months or years. The coverage helps employees maintain their financial stability by providing regular disability income payments during the specified disability period. Group long-term disability insurance is an essential component of employee benefits packages, offering peace of mind and financial security to workers facing extended periods of incapacity due to illness or injury. Employers often contribute to the premiums, making it a valuable part of their commitment to the overall well-being of their workforce.
Group critical illness insurance is a type of insurance coverage that provides financial protection to a group of individuals, typically employees within an organization, in the event of a serious medical condition or critical illness. This insurance is designed to offer a lump-sum benefit to the insured individual upon the diagnosis of a covered critical illness, such as cancer, heart attack, stroke, or other specified conditions. The lump-sum payout can be used by the policyholder to cover medical expenses, treatment costs, living expenses, or any other financial needs that may arise during the course of the illness. Group critical illness insurance helps individuals and their families cope with the financial challenges associated with a severe health condition, providing a financial safety net when it is needed most. Employers often offer this insurance as part of their employee benefits package to demonstrate a commitment to the well-being and financial security of their workforce.
Group accident insurance is a type of insurance coverage provided by employers to protect employees against the financial impact of accidental injuries. This insurance is designed to offer financial benefits in the event that an insured individual suffers covered injuries resulting from accidents, such as fractures, burns, dislocations, or other specified events. The benefits provided by group accident insurance are typically paid as a lump sum directly to the insured or their beneficiaries and can be used to cover medical expenses, out-of-pocket costs, or other financial needs resulting from the accident. This coverage complements other health insurance plans and is particularly valuable for helping individuals manage the unexpected costs associated with accidents. Employers often include group accident insurance as part of their employee benefits package to enhance the overall well-being and financial security of their workforce.
Hospital indemnity insurance is a type of supplemental insurance that provides specific financial benefits to individuals for covered hospital stays and related medical expenses. Unlike comprehensive health insurance, which may cover a range of medical services, hospital indemnity insurance focuses specifically on hospital-related costs. When an insured person is hospitalized, this insurance pays out a fixed daily, weekly, or monthly benefit amount for each day spent in the hospital, up to a specified limit or for a predetermined period. The benefit amount is predetermined in the policy and does not necessarily correlate with the actual expenses incurred during the hospital stay. Hospital indemnity insurance is designed to help individuals offset the out-of-pocket costs associated with a hospitalization, such as deductibles, copayments, and non-medical expenses. It provides financial support that can be used at the policyholder's discretion, whether for medical bills, transportation, or other incidental costs that may arise during a hospital stay.
Marvel HR’s partnership with Norton LifeLock allows employees to protect themselves as well as family members from multiple levels of ID theft. Providing identity theft protection as an employee benefit is a proactive and valuable measure that can significantly enhance the overall well-being of the workforce. In an age of increasing digital transactions and sophisticated cyber threats, employees are vulnerable to identity theft, which can have severe financial and emotional consequences. Offering identity theft protection as part of the employee benefits package demonstrates a commitment to safeguarding the personal and financial interests of the workforce. These programs typically include proactive monitoring, rapid response to potential breaches, and educational resources to empower employees in recognizing and mitigating risks. By integrating identity theft protection into the benefits portfolio, employers not only contribute to the peace of mind of their employees but also foster a culture of trust and security within the workplace. This type of employee benefit goes beyond traditional offerings, acknowledging the evolving nature of personal and financial security concerns in the digital age.
Implementing an Employee Assistance Program (EAP) that encompasses telehealth services, mental health therapy, and prescription benefits is a strategic and holistic approach to employee well-being. In today's fast-paced work environment, providing accessible mental health resources is crucial for fostering a supportive workplace culture. The inclusion of telehealth services facilitates convenient and timely access to healthcare professionals, allowing employees to address both physical and mental health concerns without the constraints of traditional in-person appointments. Mental health therapy as part of the EAP ensures that employees have confidential and expert support, promoting emotional well-being and resilience. Additionally, integrating prescription benefits into the program contributes to a comprehensive healthcare solution, making medications more affordable and accessible. By offering this multifaceted Employee Assistance Program, employers not only prioritize the health of their workforce but also recognize the interconnected nature of physical and mental well-being, ultimately cultivating a more engaged and resilient employee community.
Introducing pet insurance as an employee benefit demonstrates a forward-thinking approach to workforce well-being, recognizing the integral role that pets play in many individuals' lives. As pets are considered cherished members of families, providing insurance coverage for their health and well-being can significantly alleviate financial burdens associated with veterinary care. Pet insurance typically covers a range of medical expenses, from routine check-ups to unexpected emergencies, offering employees peace of mind and financial security. This employee benefit not only supports the physical health of employees' beloved companions but also acknowledges the emotional bond between individuals and their pets. By including pet insurance in the benefits package, employers not only enhance the overall job satisfaction and work-life balance of their staff but also foster a workplace culture that values the diverse needs and interests of its employees.
The Marvel HR Savings Plan is a special type of 401(k) plan called a Multiple Employer Plan (MEP). Rather than sponsoring your own plan, you can become an adopting employer of ours! And as part of our super-sized plan, you’ll get all of the benefits typically enjoyed by only the largest companies, with a lot less work.
Design Options
You can realize all the benefits of being part of a MEP without losing any flexibility. And that is especially true when it comes to the options within your plan. When well designed, your plan can play an integral part of a strategic compensation package for your employees. As your 401k administrator, we will individualize your plan design to meet your company’s objectives and help your employees prepare for retirement.
Marvel HR partners with BlueStar which has two decades of experience servicing Multiple Employer Plans (MEP) for PEOs and ASOs. With proprietary MEP-catered technologies, as well as a PEO-trained team, BlueStar’s commitment to service and technology creates an unrivaled retirement plan experience.
Your employees will benefit from:
• Reporting visibility into retirement plan success
• Robust cyber security protocols
• Service-first attitude of support
• Mobile app for account management
Integrated mobile app enrollment experience and proprietary workflow system significantly reduce your administrative burden and provide an integrated and compliant solution.