Medical Insurance

More options, better choices, and greater flexibility are what Garcia Insurance can offer you with your health care plan. Discover health care that meets the needs now and in the future for you and your employees. We offer the insurance consumer the opportunity to view comprehensive information, reviews, summaries and quotes for insurance products from the top rated carriers.

Dental Insurance Programs

Garcia Insurance has access to the top dental carriers committed to quality care at an affordable price. We can help you decide whether to offer a DMO, PPO or traditional indemnity plan based on your companies needs.

Life Insurance Programs

Garcia Insurance will work closely with you to coordinate all facets of your company’s financial picture. We help to ensure that your employees receive quality group life insurance.

Disability Programs

Garcia Insurance will meet with you to discuss the advantages of offering your employees short term and long term disability coverage. We will also work with you to coordinate buy/sell and key man disability policies to provide uninterrupted operation of your business in the event of a disability.

Supplemental Benefits

Employers may wonder why they should offer supplemental benefits to their employees. One good reason is to provide your employees with choices. People don't like having choices made for them, especially when it comes to the means of providing protection for their family. But, depending on the program your company participates in, you may find that your employees are better informed about how much your company is actually doing to help them.

Through participating in voluntary insurance plans, employees become better informed about the limits of their medical coverage. Many older employees, for example, may be interested in purchasing cancer or critical illness protection because they are moving into the age ranges where their chances of developing life-threatening illnesses increase. Most major medical plans provide only limited protection against cancer and other significant illnesses, which is why these supplemental plans are important.

Garcia Insurance offers these additional supplemental plans:

Disability Insurance
Life Insurance
Accident Insurance
Hospital Confinement Indemnity Insurance

Long Term Care

Garcia Insurance offers many options in long term care programs as well as California Partnerships for those that may need lifetime asset protection. We recognize the financial threat that aging can pose and we can counsel you on the best coverage for your group or on an individual basis this year, about 9 million Americans over the age of 65 will need long term care services.

Cafeteria Plans

Cafeteria plans, or flexible benefits accounts, were created by the Revenue Act of 1978 and provide one way for employers to deliver nontaxable benefits to employees. There are many opportunities to provide an excellent array of these benefits to your employees at minimal expense to the company. The available types of plans including the following, all of which we can handle for you.

Premium Only Plans
Flexible Spending Accounts
Medical Benefit
Dependent Daycare Benefit
Adoption Assistance Benefit

Non-qualified Deferred Compensation - NQDC

Many employees these days are taking a proactive stance on retirement planning – seeking innovative ways to ensure that they will have sufficient retirement income to maintain their standard of living. However, highly compensated employees investing in their future may encounter some obstacles:

Qualified retirement plans have several specific rules concerning highly compensated employees, making it difficult for them to accumulate sufficient savings to maintain their standard of living.
Additionally, employers are restricted on how much they can contribute and deduct to defined contribution plans.

Fortunately, a properly designed executive benefit plan can meet the needs of both the employer and employee.

Non-qualified Deferred Compensation Plans

Non-qualified deferred compensation plans can help provide extra benefits for key executives and employees who are interested in supplementing their retirement income on a tax-deferred basis.

Advantages for Employers:

Recruit, reward and retain skilled executives
Limit a plan to a select group of executives or highly compensated employees
Minimal ERISA reporting
Flexibility in the design of the plan

Advantages for Employees:

Defer more income towards retirement
May be placed in a lower tax bracket later
Assists in obtaining sufficient retirement income
Helps ensure that employees’ heirs will be provided for

How Life Insurance Can Help

Since the inside buildup of life insurance is tax-deferred, use of life insurance in a deferred compensation arrangement allows the employer to invest the plan contributions on a tax-deferred basis. The death benefit payable to the employer is generally income tax-free and can be used to pay any pre-retirement plan benefit or pay any post-retirement benefits. Our life products can be used in conjunction with different types of deferred compensation plans.

A supplemental executive retirement plan (SERP) uses employer dollars to provide select executives with supplemental retirement income.
In a salary deferral plan, the employee agrees to defer a stated amount or percentage of compensation in exchange for benefits starting at retirement or death. The employer receives a tax deduction at payout.
A 401(k) overlay plan allows the employee to put more dollars aside for retirement than would otherwise be possible in a 401(k) plan by contributing the excess available to a nonqualified plan.