Since 1966, the professionals at Gus Bates Insurance & Investments have helped guide clients to make smart choices in an increasingly complicated world. Our clients look to us for guidance and resources to help navigate the cumbersome world of insurance and investments. We are not a cookie-cutter insurance firm. Our expertise and personal relationships combined with our creativity – enables us to craft solutions that fit your specific circumstances. Our team invests the time to walk you through every decision, giving you the attention you deserve. Our clients gain the benefit of experienced professionals, the most advanced technology and tools, and a genuine concern for you.
Health and Welfare
At Gus Bates, creating customized Employee Benefits programs is our specialty. Our consultants will provide you with a myriad of options, then help you understand all of the plans and products on the market. We make it a point to show not only the most cost-competitive options, but also how to create value within an employee benefits package.
Group medical insurance usually comes with a wide variety of options. Gus Bates helps employers minimize costs while simultaneously crafting a valuable benefit plan for employees. We have extensive knowledge and experience with group health plans and maintain strong relationships with insurance carriers. As a result, we can customize a solution that fits each client’s unique needs and keeps the cost/benefit scale balanced.
GROUP DENTAL & VISION
Group dental and vision plans can help complete your employee benefits package, and both markets offer a variety of options. We’ll help evaluate the benefit levels, networks and contracts so you can pick the option that provides the greatest value to your employees.
Group life and accidental death & dismemberment insurance is a low-cost, low-maintenance benefit and a valuable component to an employee benefits package. We can advise you on which option is the better fit for your comprehensive benefits package.
We believe that group long-term disability is one of the most important and affordable benefits an employer can offer. We can help navigate the maze of contractual payment guidelines, elimination periods, carve-out options and other decisions to keep disability insurance affordable.
GROUP LONG TERM CARE
As the population ages, there is a great need for elder care. Long-term care insurance will only become more valuable as a benefit to employees in the future. Due to increasing awareness, it’s rapidly becoming one of the most popular employee benefits.
One of the most cost-effective and creative methods of completing a benefits package is to offer voluntary supplemental products. The Supplemental Benefits Division at Gus Bates will evaluate a client’s needs and compare the numerous plans available. Supplemental policies are often individually owned and funded, which means introducing such plans isn’t so much a financial decision as an employee exposure and enhancement decision. Some positive features of supplemental plans include portability and potential tax savings for both employees and employers.
In addition, we’ll help you successfully implement consumer-driven plans and creative options that provide value to all employees.
Plan designs and administrative setup options include:
- Health Savings Accounts (HSAs)
- Health Reimbursement Arrangements (HRAs)
- Fully Insured Plans
- Self-funded Plans
- Captive Arrangements
- Professional Employer Organizations (PEOs)
If you wish to create a more robust benefits package without increasing cost, we can help you set up voluntary, employee-paid dental and vision programs. We also have extensive experience creating successful ASO (self-insured) dental and vision programs for larger group plans.
To make the benefit even richer, we like to encourage employers to offer voluntary life insurance over and above the amount the company provides with guarantee-issue features. This allows employees to purchase additional life insurance with no physical exam or health questions required.
We help employers evaluate the decision to offer disability coverage on an employer-paid or voluntary basis. We can even design management carve-out plans that are geared toward attracting and retaining key employees.
We have a lot of experience with contract design and funding options for long term care plans, and we’re here to assist you if you decide to offer it to your employees.
We offer a full range of supplemental insurance policies that appeal to employees of all income and age ranges. These are some of the most popular types of policies:
- Provide benefits for hospitalization, emergency treatment, specific-sum injury, accidental death, follow up and physical therapy and ambulance
– Provide benefits for first occurrence, radiation, chemotherapy, hospital confinement, surgery/anesthesia, travel expenses, hospice and home healthcare
– Pay lump sum benefits for heart attacks, stroke, end-stage renal failure, major organ transplants, coma and paralysis
– Provide benefits for hospital confinement, ICU confinement, ambulance and surgery (inpatient and outpatient) Permanent Life Insurance Plans– Provide employees with an affordable cash-value life insurance option without the term limits of traditional term insurance
Property and Casualty
For companies looking to protect the value of their assets, we provide risk management and insurance services that are personally customized to meet your specific needs. From the beginning, our main concern has always been building lifetime relationships. And for more than 45 years, we’ve done this by putting the client first and by delivering on promises to meet their expectations. We welcome the opportunity to discuss your insurance and risk management needs, and we look forward to becoming a part of your team. After all, our business is about protecting your business.
At Gus Bates Insurance & Investments, we help our clients plan for the unforeseen. And in the event of the loss of your company’s physical assets, property insurance offers financial protection. By analyzing clients’ specific needs, we insure indemnification for the loss.
Just like fingerprints, every liability is different and warrants careful attention to detail. At Gus Bates, one of our fundamental services is providing clients with casualty coverage.
Employees are one of a business’ most important assets. Crafting the proper workers compensation policy is key to providing coverage in the event of a work related injury. We work with carriers and our risk manager to craft policies and procedures to insure that both your employees and your company are protected.
For companies that are out on the road working on behalf of their clients, business auto insurance is essential. Auto insurance policies, whether for one car or a fleet of vehicles, provide the platform necessary to cover a business against bodily injury and property damage liability associated with the risks of operating vehicles.
It sure seems like a company can be sued for just about anything these days. And when a company needs professional liability insurance, having the right policy can ensure that damages & legal expenses are covered by the policy. Professional liability protects practitioners against potential negligence (errors & omissions) claims made by patients or clients.
Specialty Coverage Options
Through business interruption coverage, we can also help you find protection for expenses associated with a loss, such as loss of income, extra expenses, contingent loss of income, and contingent extra expense. We’ll craft meaningful solutions to maximize the protection provided in your policies.
Our team has the experience to analyze the hazards associated with a client’s operations and provides solutions, implementation and daily support to the liability issues that keep you up at night.
Each industry has different risk management tools that need to be analyzed and put into place. Whether you’re a small firm looking for standard workers compensation or a large firm looking to take on a large deductible, we have the expertise to assemble the right solution to keep employees covered, losses to a minimum and your company well protected.
Our solutions to potential auto liabilities can help keep your mind at ease.
The primary reason for professional liability coverage is that a general liability policy only protects against bodily injury, property damage, personal injury or an advertising injury claim. If you’re not sure about your coverage, let us help put your mind at ease.
- Plan & Vendor Evaluation
- Investment Platform
- Plan Sponsor, Trustee & Investment Committee
- Services For Participants
Retirement and Investment
Gus Bates Insurance & Investments provides a broad range of secure, comprehensive retirement options that will help give you and your employees a sense of confidence about their future. Our investment team will strive to design and implement the optimal solution for your firm. To help ensure a worry-free experience, we provide employee education, counseling and enrollment services. We continually monitor the plan’s performance, keeping you updated on compliance and legislative changes.
Below are some of the retirement plans we can help you with:
Deferred Compensation Plans
Defined Benefit Plans
Individual Investments (IRAs, Annuities, 529 Plans)
PLAN & VENDOR EVALUATION
Assessing plan design and vendor selection is an important first step. Gus Bates Insurance & Investments begins working with clients by reviewing their current plan design and investment platform. We help clients handle the complexities of complying with ERISA requirements to ensure that they satisfy duties under the law that pertains to employee pension and benefit plans.
An Investment Policy Statement is the roadmap to navigating investment decisions. Gus Bates Insurance & Investments formalizes an Investment Policy Statement for clients by creating one or updating existing policies.
PLAN SPONSOR, TRUSTEE & INVESTMENT COMMITTEE
Gus Bates Insurance & Investments provides many services to keep clients abreast of change and to ease the administration burden of plan administration. Our investments team performs continual investment performance monitoring and delivers due diligence reports to clients. We also provide fiduciary reviews and recommendations.
SERVICES FOR PARTICIPANTS
Gus Bates Insurance & Investments is committed to employee education. Whether conducting classroom investment education or providing risk and time based asset allocation models, we provide the tools and individualized attention required to ensure that employees are able to make well-informed investment decisions. Gus Bates provides in-person and telephonic individual investment counsel.
We also guide clients through the different plans in the marketplace by reviewing plan expenses and negotiating vendor fees to arrange fair pricing for the value they receive. Gus Bates works with clients through the RFP and candidate selection process by preparing due diligence reports for vendor comparison.
Using the Investment Policy Statement, we select the appropriate investment platform and document all due diligence. Gus Bates also coordinates with clients to establish an investment review process that is aimed to keep the plan in compliance and competitive in comparison to industry standards.
Gus Bates analyzes plan documents and educates clients about tax law changes, legislative changes and other guidelines issued by the Department of Labor. In addition, we keep detailed records of meeting minutes for all of our clients.
We also schedule enrollment meetings for new plan participants that can be conducted on a one-to-one or group basis. If participants are terminated or retire, our teamoffers consulting services to ensure that their financial planning needs are still met.
Keeping your employee population at its healthiest is a win-win for all. Employees become healthier and employers experience increased productivity, decreased absenteeism, and an overall reduction in health care costs – in recent studies up to 30% reductions in health care costs have been experienced. With the livewell wellness program, we provide wellness tools and resources for your entire employee population. Powered by advanced data analytic tools, livewell enables employees to become healthier by evaluating their personal health risks and teaching them how to manage those risks.
Starting with the Health Risk Assessment and continuing through customized digital health coaching programs, wellness activities and interactive tools like the step-by-step tracker, the livewell program leads individuals through the steps necessary to change their lifestyle. Wellness programs like livewell have been proven to generate annual costs savings of up to $1000 per employee. Click here to visit our website for more information. If you would like more information in how we can create a wellness program for you, please email us here.