Flexible Spending Accounts | Medical/Dental Plans | HSA Accounts | 401k | Direct Deposit

Overview
All eligible employees have the option, subject to eligibility, to participate in various Hicks Consulting Group benefits at his/her own expense.  These include an employee contributed 401K Plan, and a Section 125 (cafeteria) Benefits Plan that includes health options, and flexible medical and dependent care spending.

Each eligible employee has 30 days from their start date to enroll in our plans. If human resources does not receive your paperwork within 30 days, you will not be eligible to enroll until our next open enrollment period, which is January 1st of each year.

Flexible Spending Accounts
Under the Flexible Spending Account, employees may enroll in any of the three options, which include: Insurance Premium Spending, Medical Care Reimbursement, and Dependent Care Reimbursement.  Tax savings under these plans will vary based on your individual salary and personal income tax level.  Tax savings include:  Federal, State and Social Security Taxes.  The benefit premiums and/or deposits into the flexible spending accounts are withheld from the gross amount of your semi-monthly paycheck.  Payroll taxes are then assessed on the remaining amount of gross income, which can result in a savings to you.
  • Insurance Premium Spending: If you have an individual medical or dental insurance policy (premiums are not paid to, or through, your spouse’s employer or any other employer), or you have COBRA coverage, you may choose to set up a FSA for these premiums.  A pre-tax premium plans allows you to use pre-tax dollars to pay monthly medical, dental and vision premiums for yourself and your dependents.

  • Medical Reimbursement: A medical reimbursement plan enables you to allocate up to $2,000 on a pre-tax basis for medical, dental and vision expenses during the plan year for you, your spouse or dependents which are not reimbursed by your insurance or any other source. Eligible medical expenses may include, but are not limited to deductibles, co payments, dental and orthodontia expenses, prescription drugs, eye care and hearing care.

  • Dependent Care Reimbursement: A dependent care reimbursement plan enables you to make pre-tax contributions of up to $5,000 annually or $2,500 if you are married and filing separately, which are necessary to enable you and your spouse to work. Eligible dependent care includes: day care for a child under age 13, adult care for an incapacitated spouse or parent, or care for a child of any age who is physically or mentally unable to care for him/herself.

Medical and Dental Plans
HCG currently offers the plans listed below. Attached are the plan summaries, rates and enrollment forms.

  • Kaiser $0/$1,500.00 Deductible Plan with HSA (includes Chiropractic) – California Only
  • Kaiser $30 Co payment Plan (includes Chiropractic) – California Only
  • Select Dent PPO Dental Plan

If you would like to enroll in one of our Medical Plans or our Dental Plan, please complete the appropriate enrollment forms and return them to Human Resources.  If you enroll in the Kaiser HSA plan, you must also complete the HSA Funding Authorization Form and the Wells Fargo Health Savings Account Enrollment Form.

HSA Accounts
Health Savings Accounts (HSAs) are tax-exempt accounts where funds grow to pay for medical expenses. They were created to help give control back to consumers and lower healthcare costs. In order to enroll in an HSA, you must be covered by a qualified plan that meets IRS specifications.  Through the HSA, money can be set aside on a pre-tax basis to pay for your qualified medical expenses.  If you do not use the money you have set aside during the year, it rolls over every year.  You do not lose it.  The money sits in an interest bearing account for you to use when you need it for qualified medical expenses.  The HSA is your account. If you switch jobs, the HSA goes with you.  Please see the attached guides for additional information.  The 2009 HSA contribution limits are:  Single $3,000; Family $5,950.

Employees enrolled in an HSA and Flexible Benefits Plan must use up the yearly HSA cap for health expenses FIRST before dipping in to an elected Medical Flexible Spending component.

401(k) Retirement Plan
HCG’s employees are eligible to participate in our 401(k) plan 90 days following their hire date. Under this plan, you may contribute pre-tax dollars up to the IRS limits.  The IRS limit for 2009 is $16,500.  Once you join the plan, you may direct your money into a variety of investment choices. 

Direct Deposit
HGC's employees are offered direct deposit, paid on the 10th and 25th of each month. Please work with Human Resources for enrollment instructions.