Health & Welfare

If you are currently utilizing a portion of the prevailing wage fringe for health insurance and/or ancillary benefits, you are probably already aware of the tax savings for your company and your employees.

The Beneco Choice™ Plan

The Beneco Choice™ Plan is a bona fide Health & Welfare plan that allows the contractor to:

  • Save labor burden on prevailing wage projects.
  • Customize health plan benefits.
  • Choose from a variety of nationwide health insurance carriers.
  • Attract and retain employees.

Beneco works with multiple carriers to provide the most competitive benefit rates and options available. The prevailing wage fringe can be used to establish the following options for your employees.

  • Major Medical
  • Basic Life Insurance
  • Long Term and Short Term Disability
  • Vision
  • Accidental Death and Dismemberment
  • Dental
  • SRA
  • SSA

Benefits Include:

  • The ability to "bank" additional dollars to provide medical coverage for employees who are terminated or laid off due to breaks in service.
  • Vacation Fund Reporting*.
  • Discharge Cobra Administration.
  • Monthly plan reporting detailing eligibility, hour bank reserves, and Cobra.
The Beneco Choice Plan

*Vacation/Holiday disbursements are subject to employer labor burden costs and employee federal, state, FICA, taxes when distributed.