- (814) 226 - 6580
- cia@carrierins.com
- 21823 Route 68 Suite 3 Clarion, PA 16214
Employee Benefits
Attract and Retain Talented Employees
Employee Benefits
Carrier Insurance and Notary Services offers comprehensive and reliable coverage options tailored to your employees' needs. With a focus on providing quality insurance and notary services, Carrier Insurance ensures that your workforce receives the protection and support they require. Their commitment to customer satisfaction and expertise in the industry make them a trustworthy choice for delivering valuable benefits that can enhance employee well-being and satisfaction.
Employee Benefits & Retirement Savings
Whether you need guidance or want a hands-off approach, Carrier Insurance and Notary Services has your employees covered.
Simple IRA
A retirement savings plan with employer and employee contributions, straightforward setup, and tax advantages.
Life & Accidental Death
Life and accidental death and dismemberment insurance provides financial protection for employees in case of accidents.
Long Term Care Insurance
Long-term care insurance covers expenses for extended assistance with daily activities in case of illness or aging.
Simple IRA
Benefits for Both Workers and Employers
Simplified Administration: The administrative requirements for SIMPLE IRAs are less complex compared to other retirement plans, making it an attractive option for small businesses with limited resources.
Employee Contributions: Employees can contribute a portion of their salary to their SIMPLE IRA accounts on a pre-tax basis, reducing their taxable income for the year.
Employer Contributions: Employers are required to make contributions to their employees' SIMPLE IRAs. They can choose to either match employee contributions up to a certain percentage or make a non-elective contribution of 2% of each eligible employee's compensation.
Contribution Limits: In 2023, employees can contribute up to $14,000 to their SIMPLE IRA accounts, with a catch-up contribution of $3,000 allowed for those aged 50 or older.
Immediate Vesting: All contributions to a SIMPLE IRA, whether made by the employee or the employer, are immediately vested. This means that employees have full ownership of their contributions and employer-matched funds from day one.
Withdrawals: Withdrawals from a SIMPLE IRA are subject to specific rules. Early withdrawals (before age 59½) may incur a penalty, and withdrawals after age 59½ are generally taxable as ordinary income.
Employee Contributions: Employees can contribute a portion of their salary to their SIMPLE IRA accounts on a pre-tax basis, reducing their taxable income for the year.
Employer Contributions: Employers are required to make contributions to their employees' SIMPLE IRAs. They can choose to either match employee contributions up to a certain percentage or make a non-elective contribution of 2% of each eligible employee's compensation.
Contribution Limits: In 2023, employees can contribute up to $14,000 to their SIMPLE IRA accounts, with a catch-up contribution of $3,000 allowed for those aged 50 or older.
Immediate Vesting: All contributions to a SIMPLE IRA, whether made by the employee or the employer, are immediately vested. This means that employees have full ownership of their contributions and employer-matched funds from day one.
Withdrawals: Withdrawals from a SIMPLE IRA are subject to specific rules. Early withdrawals (before age 59½) may incur a penalty, and withdrawals after age 59½ are generally taxable as ordinary income.
Rollover Limitations: A SIMPLE IRA imposes a stipulated waiting period of two years from the employee's initial plan enrollment before it becomes eligible for a rollover into a traditional IRA.
What is a SIMPLE IRA?
A SIMPLE IRA, or Savings Incentive Match Plan for Employees Individual Retirement Account, is a retirement savings plan designed for small businesses and self-employed individuals. It provides an uncomplicated and cost-effective way for employers to offer retirement benefits to their employees, while also allowing employees to contribute to their own retirement savings.
SIMPLE IRAs offer an accessible and straightforward retirement savings option for both employers and employees, fostering a culture of savings and financial security in the workplace.
SIMPLE IRAs are suitable for businesses with 100 or fewer employees who earned $5,000 or more in the preceding year. Self-employed individuals with net earnings can also establish a SIMPLE IRA.
SIMPLE IRAs offer an accessible and straightforward retirement savings option for both employers and employees, fostering a culture of savings and financial security in the workplace.
SIMPLE IRAs are suitable for businesses with 100 or fewer employees who earned $5,000 or more in the preceding year. Self-employed individuals with net earnings can also establish a SIMPLE IRA.
Life and Accidental Death & Dismemberment Insurance
Life and Accidental Death and Dismemberment (AD&D) insurance for businesses is the cornerstone of a full employee benefits package that provides financial protection and peace of mind to both employees and employers. This type of insurance policy adds on to a typical life insurance policy, offering a comprehensive safety net in the event of unexpected tragedies.
Benefits for Businesses
AD&D insurance complements life insurance by providing coverage for accidents that result in dismemberment or loss of life. This type of insurance pays out a benefit if an employee experiences a covered accident that results in loss of limb(s), eyesight, or death. While it doesn't replace the value of a life, AD&D insurance provides financial support to employees or their beneficiaries in the event of serious injuries or fatalities resulting from accidents. Businesses can customize AD&D insurance policies to suit their employees' needs, providing peace of mind and additional financial security.
In summary, offering Life and AD&D insurance to employees is not only a compassionate gesture but also a strategic move for businesses. It enhances employee satisfaction, aids in recruiting and retaining top talent, and demonstrates a commitment to the well-being of the workforce. Moreover, it provides invaluable financial protection to employees and their families during challenging times, promoting a sense of security and stability.
In summary, offering Life and AD&D insurance to employees is not only a compassionate gesture but also a strategic move for businesses. It enhances employee satisfaction, aids in recruiting and retaining top talent, and demonstrates a commitment to the well-being of the workforce. Moreover, it provides invaluable financial protection to employees and their families during challenging times, promoting a sense of security and stability.
Benefits for Beneficiaries
Accidental Injury Coverage: AD&D insurance offers financial compensation in the loss of eyesight, hearing, vision, or limb due to a covered accident, helping the family cope with the additional expenses and challenges that may arise.
Immediate Support: The policy pays a death benefit to the designated beneficiary, providing financial support to cover immediate expenses, such as funeral costs, outstanding debts, and daily living expenses.
Income Replacement: Life insurance ensures that the family continues to receive a source of income after the employee's passing or disability.
Debt Coverage: It can help settle outstanding debts, including mortgages, loans, and credit card balances, preventing the family from facing financial hardship.
Immediate Support: The policy pays a death benefit to the designated beneficiary, providing financial support to cover immediate expenses, such as funeral costs, outstanding debts, and daily living expenses.
Income Replacement: Life insurance ensures that the family continues to receive a source of income after the employee's passing or disability.
Debt Coverage: It can help settle outstanding debts, including mortgages, loans, and credit card balances, preventing the family from facing financial hardship.
Long Term Care Insurance
Long-term care insurance (LTCI), also known as Cancer Insurance stands as a valuable financial tool designed to address the potentially substantial costs associated with extended periods of care needed due to age, chronic illness, or disability. It serves as a safety net, covering expenses related to long-term care services that might not be fully covered by traditional health insurance, Medicare, or Medicaid.
What does Long Term Care Insurance Cover?
- Physical, Occupational, or Speech Therapy
- Medical Equipment and Supplies
- Care Coordination Services
- Personal Care
- Skilled Nursing Care
- Memory Care
- Home Care
- Assisted Living Facility Care
- Nursing Home Care
- Hospice Care
- Respite Care
Benefits for Businesses
Offering long-term care insurance as an employee benefit can provide several advantages for businesses. Firstly, it can be a powerful tool for talent recruitment and retention. In an aging workforce, employees increasingly value benefits that address the potential need for long-term care. By offering this insurance, businesses can attract and retain experienced professionals, which can be particularly important in industries where specialized knowledge and skills are crucial.
Additionally, long-term care insurance can help reduce the financial burden on the business itself. Without this insurance, employees may need to take extended leaves of absence to care for aging family members. Long-term care insurance can alleviate some of these caregiving responsibilities, allowing employees to balance work and family commitments more effectively. This can result in a more engaged and focused workforce, ultimately benefiting the company's bottom line.
Additionally, long-term care insurance can help reduce the financial burden on the business itself. Without this insurance, employees may need to take extended leaves of absence to care for aging family members. Long-term care insurance can alleviate some of these caregiving responsibilities, allowing employees to balance work and family commitments more effectively. This can result in a more engaged and focused workforce, ultimately benefiting the company's bottom line.
Personalized Solutions
Contact Carrier Insurance and Notary Services today to tailor your employee benefit plans to the unique needs of your workforce. Our expertise ensures that your employees receive the best coverage options, promoting financial well-being and job satisfaction. You can team up with us to take proactive steps to enhance your company's benefits offering and attract and retain top talent while safeguarding your employees' financial futures.