Employee Benefits

SourcePointe takes the research and delivery of employee benefits seriously. We know that the value of benefits offered by your company affects the quality of the team you build. It’s our goal to build a selection of programs that enhance your company’s position in attracting the best employees in the market.

ACA Compliance/Affordable Healthcare

SourcePointe offers two ACA compliant master medical plans. The dual plans allow the employees to choose the coverage that best suits their needs. To ensure ACA (Affordable Care Act) compliance, SourcePointe submits all necessary paperwork to the Internal Revenue Service. These reports show compliance for health plans for groups with more than 50 employees and provide information showing financial conditions, investments and operations with the Department of Labor. SourcePointe has the responsibility of ACA compliance. This allows our client to avoid the complexities of ACA’s ever-changing regulations and focus on driving their company’s growth. The Form 6055 and/or 6056 that must be completed and sent to the Internal Revenue Service is completed and signed by SourcePointe.

According to MetLife’s 13th Annual U.S. Employee Benefit Trends, for companies who do not offer benefits to their employees, only 46% of them would recommend their employers as a great place to work.

Employee Benefits Administration

At SourcePointe, we offer and administer many types of benefits products including:

  • Medical Insurance: We offer two plans.
  • Dental Insurance: We offer two plans covering many types of dental needs including orthodontia.
  • Vision Insurance: This coverage is for individuals wearing contacts or glasses.
  • Short Term Disability Insurance: We offer employer paid and employee paid short term disability coverage for up to 26 weeks of coverage.
  • Long Term Disability Insurance: We offer employer and employee paid long term
  • Term Life Insurance: SourcePointe offers employer and employee paid life insurance for employees, their spouses and their children.
  • Critical Illness Insurance: SourcePointe offers Critical Illness insurance which covers certain medical costs for some types of life threatening illnesses such as cancer, stroke or kidney failure.
  • Accident Insurance: SourcePointe offers Accident Insurance to cover certain expenses for accidents such as broken bones.
  • Flexible Spending Account: This is for medical and/or dependent care expenses. According to Wage Works, only 20% of employees offered Flexible Spending actually utilize the benefit. Since 2013, the IRS has loosened rules to minimize risk of losing funds. There is an option to roll over money into a portion of the next year. At SourcePointe, we work with employees to make sure they have accurately projected their medical, dental and vision expenses.
  • 401K: SourcePointe offers a 401K plan to its clients. We handle the administration of the 401K and provide fiduciary responsibility for the plan. Our financial advisors meet quarterly with employees on their 401K investment selections.

Healthcare Administration

SourcePointe is able to provide clients with all of their Healthcare Administration needs by offering a section 125, ACA compliant master medical plan.

Healthcare Compliance

SourcePointe provides confidence to the companies they serve that Healthcare Compliance is being maintained.