Employee Benefits

A comprehensive benefits program is key to retaining and attracting great employees.

Foy & Associates works closely with you to customize and support your employee benefits program so that you can achieve your goals and maintain a leadership position within your industry. Every recommendation made by our team is based on a thorough analysis of your company, the markets in which you compete and the financial parameters you are seeking to achieve.

Foy & Associates offers an array of medical insurance options for all large or small group employers regardless of industry, both nationally and globally.

We work closely with each of our clients on:

  • Custom plan design that addresses single or multi-site needs
  • Analysis and recommendations based on specific financial parameters
  • Utilization analysis to assist in the decision-making process related to plan changes or enhancements

Our integrated servicing and administration model allows us to effectively tie your entire benefits program together, resulting in:

  • Rapid claims adjudication
  • An HR resource that can save you time and money
  • Enhanced employee satisfaction
  • Vendor and carrier accountability

The ability to offer dental insurance to your employees creates a distinct advantage for your company in the marketplace. Foy & Associates can help you tailor a dental offering that works well within your overall benefits program.

As a licensed, qualified Third-Party Administrator (TPA) in partnership with Discovery Benefits, we are able to customize a program that meets the needs of your business and your employees, with features such as:

  • Premium Only Plans (POP)
  • Health Care Spending Accounts (HCSA)
  • Dependent Care Spending Accounts (DCSA)
  • Full Flex Dollar Allocation Plans (Cafeteria Plans)

COBRA Administration

Foy & Associates provides complete COBRA administration, removing the liability and burden of notifications, eligibility tracking, enrollments, premium collections, carrier payments, terminations and conversions from the employer.

In addition, we ensure that the specific requirements of each state is met, as well as, the various Federal mandates such as FMLA, HIPAA, and the Pregnancy Act. All information and records are kept and updated as required by the Department of Labor, which ensures a positive response from any random audit that may occur.

Consolidated Billing & Reconciliation

Foy & Associates can eliminate hours of your time and reduce your corporate overhead by creating and systemizing an easy-to-read and accurate consolidated premium billing statement, which absorbs the monthly work associated with reconciling your premium billing process.

The consolidated premium billing statements are structured as follows:

  • Line of coverage
  • Employee/dependent participation
  • Up to date eligibility reconciliation’s
  • Employee changes
  • Billing audits
  • Premium calculations
  • Employer/employee costs
  • Plan totals

Group Life Insurance is a relatively inexpensive way for employers to help their employees plan for the future. Foy & Associates has access to a variety of options through our extensive carrier network that will enhance your overall benefits program.

Short and Long-Term Group Disability policies allow employers to help employees protect themselves in cases of non-work related disabilities, which are not covered by workers’ compensation.

While employee success is always the number one goal in any retirement program, we pay equal attention to the employer's fiduciary responsibility for the protection of the plan sponsor. More and more employees are looking to their employer to offer a competitive, comprehensive yet simple to use 401k Retirement Savings program. Working in cooperation with you, your participants and the plan provider, Foy & Associates will ensure that each employee has the opportunity to save and invest at the level that will meet their long-term goals.

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