Employee Group Benefits
As an experienced, proven and full-service resource for dealership benefit packages, CADA’s Employee Group Benefits brokerage can develop and create solutions for any dealership, saving dealer principals, general managers and HR staff time and money while providing employees with competitive and valuable benefits packages.
Our brokers have access to all carriers who are licensed, insured (either fully or self-insured) and authorized to sell insurance products in Colorado, and we provide all employee benefit programs to Colorado’s auto dealers.
We’re unique in that our insurance and benefits professionals represent you, our member dealers — not the insurance or brokerage companies. The result? Solutions that make the most business and financial sense for you, our members.
CADA’s brokers research and shop the market to find the best carrier, benefit structure and funding methods to meet your and your employees’ needs. To identify your competitive rates and packages we negotiates with carriers at the plan’s inception, as well as at each renewal.
Sometimes our rates match other providers and sometimes we can get better pricing. The bottom line is your investment goes much further when you choose to get your benefits through CADA, because sales revenue is reinvested into the many services CADA provides. Your choice not only protects your dealership, but helps it thrive.
What’s more, along with getting competitive and comprehensive benefits packages for your dealership, your investment gives CADA a stronger voice through legislative, regulatory, compliance, grassroots and educational efforts.
CADA’s Employee Group Benefit products include:
- PPO (Preferred Provider Organization) These plans are designed to give employees greater flexibility within a network program. They include in-network benefits that provide higher levels of coverage and out-of-network coverage with less coverage. No referrals are needed to see specialists or other facilities.
- HMO (Health Maintenance Organization) These plans offer employees more managed care. They generally require primary care physician (PCP) selection and referrals to see specialists. Networks are often smaller than PPOs and there are no out-of-network benefits. With these caveats, they can be less expensive than a PPO or Point of Service.
- POS (Point of Service) These plans are similar to a PPO, with an in-network list of providers that are often smaller, yet provides an open choice at time of service. Some POS plans may require Primary Care Physician (PCP) and referrals may apply for in-network benefits to be covered.
- HDHP (High Deductible Health Plans) with HSA (Health Savings Account) High Deductible Health Plans (HDHP) are gaining popularity. They include higher deductibles and more out-of-pocket costs than PPOs, POSs and HMOs. They also help employees make informed decisions about medical conditions at a much lower premium. Health Savings Accounts (HSA) are contributions made on a pre-tax basis to help pay for all medical expenses incurred. These funds can be used for all related medical expenses (including pharmacy costs).
- PPO (Preferred Provider Plans) Similar to medical plans, these plans offer in-network and out-of-network benefits. Deductibles are commonly set at $50 per person/$150 max for families and unlike medical coverage, have calendar maximum benefits. Plans can be designed to pay benefits on an indemnity basis where in-network and out-of-network claims pay the same.
- DMP (Dental Maintenance Program) Similar to an HMO plan, a Dental Maintenance Program (DMP) requires a network of dentists for claims to be paid. The plan designs often include a preset schedule of benefits; however, they do not have calendar maximum benefits. DMP plans can be very inexpensive and offered with a PPO. Sometimes, they are not even considered “insurance.”
Vison plans often require employees to use certain providers for exams and materials. They provide coverage for exams and most eye care needs during a calendar year, yet often include limits on most materials. Vision plans can be inexpensive and many employees value this coverage.
- STD (Short Term Disability) Short-term disability (STD) insurance pays a percentage of your salary if you become temporarily disabled (meaning that you are not able to work for a short period of time, due to sickness or injury). STD excludes on-the-job injuries, which are covered by workers compensation.
- LTD (Long Term Disability) Long-term disability is the same, and normally will coordinate with short-term disability, however, the benefits are for a longer period of time.