Miscellaneous Group Products

Flexible Spending Accounts & Section 125 Cafeteria Plans

Today, many employers choose to offer employee benefit plans with a wide variety of choices and options. These are generally known as Cafeteria Plans, or Section 125 plans. Kevin S. Reid Insurance Services helps employers decide which benefits to offer in these plans and navigate their complex legal and administrative requirements. One common characteristic of Cafeteria Plans is a Flexible Spending Account, or FSA. FSA's are popular with employees because of the significant tax benefits and normally fall into one of three categories:

• Premium Conversion Accounts allow the employee's share of qualifying group insurance premiums to automatically be deducted from their pay with pre-tax dollars.


• Health Care Flexible Spending Accounts allow employees to pay health care expenses for themselves and their families that are not covered by health insurance with pre-tax dollars. Eligible items include dental, vision, orthodontia, etc., and even those deductibles or "co-pays" which are the patient's responsibility.


• Dependent Care Flexible Spending Accounts allow employees to pay for child day care or dependent care expenses up to $5,000 per year with pre-tax dollars.

Health Saving Accounts (HSA)

Health Savings Accounts are a new option for health insurance and they have two parts. The first part is a health insurance policy that covers large hospital bills. The second part of the Health Savings Account is an investment account or retirement account from which you can withdraw money tax-free for medical care. Otherwise, the money accumulates with tax-free interest until retirement, when you can withdraw for any purpose and pay normal income taxes.

Alternative and Chiropractic Care

Modern medicine is finally recognizing the value of alternative health care and many practitioners are accepting alternative/holistic approaches to healthcare. The medical community is evolving, and Kevin S. Reid Insurance Services offers coverage plans that access a variety of alternative modes of medicine.

Plans can include hypnotherapy to help you stop smoking, a chiropractor to alleviate lower back pain, meditation therapy for stress management, or acupuncture to get your energy flowing at peak performance. Many programs include access to savings on alternative for Massage Therapy, Acupuncture, Aromatherapy, Ayuerveda, Biofeedback, Chelation Therapy, Kinesiology, Nutrition Products and Counseling, Qi Gong, Tai Chi, Reiki, Yoga, and numerous other specialties.

Group International Major Medical Plan

This plan offers flexibility in design for the group need of international medical insurance. With a minimum group size of 5 or more, this plan is ideal for business pursuits. Any cluster of people with a common travel plan are considered for this group international medical coverage.

Excess Major Medical Coverage

The Excess Major Medical Coverage Insurance plan was designed to fit a number of different needs situations. A plan for persons or firms who wish to self-insure up to a certain limit and be insured over that limit with catastrophic coverage. Employees whose employers have lowered the group coverage maximum benefit. Such employees can, on a voluntary basis, pick up excess major medical coverage to supplement their lowered maximums.