Health & Welfare

If you are currently utilizing a portion of the Service Contract Act wage fringe benefit 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 trust that allows the contractor to:

  • Save labor burden on Service Contract Act 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 Service Contract Act 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 & 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.
  1. Beneco Choice™ - Service contractors contribute Service Contract Act fringe benefit contributions without having to pay FICA, FUTA, SUTA, Medicare, workers' compensation premiums, general liability premiums* and employee FICA, state and federal income tax.
Service Contract Act Wage Rate

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