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Employee Benefits

You Care About Your Employees

Show them how much you value them by building a competitive employee benefits solution

Would you want to risk losing a qualified and passionate employee because they discovered your company doesn’t offer something as seemingly simple as health insurance? Of course not. Yet, many people weigh the employee benefits a business offers as high or higher than salary when looking for work. As an employer, you likely want to show your current employees and new hires that you care about them outside of work, too!

That’s why building an employee benefits plan (one that doesn’t break the bank) matters. And at Dean & Draper, we know that it can be costly if you don’t understand your options. Let our team work closely with you to help build a customized employee benefits program that goes beyond just a piece of paper!

Explore our different insurance offerings below.

Overview of Group Health Insurance

Your employees don’t want to have to worry about getting sick. Likewise, they probably don’t want to stress about coverage if they do. There are numerous group health plans available to businesses in Texas and across the country that the team at Dean & Draper can dive into with you.

We can help you determine which of the following plans is best for you:


  • Preferred Provider Organization Plan (PPO) - A PPO gives your employees a network of healthcare providers from which to choose. They can see a doctor outside your network but choosing a doctor within their network will save your employees more money. 
  • Health Maintenance Organization (HMO) Plan - An HMO differs from a PPO in that employees must only see physicians within their network.
  • Point of service (POS) Plan - An HMO differs from a PPO in that employees must only see physicians within their network.

  • Health Savings Account (HSA) Plan - With an HSA plan, your employees deduct a tax-free portion of their paychecks to a savings account, whose funds roll over from year to year if not used. These funds can be used for almost any medical care services they require.
  • Cafeteria Plans - A cafeteria plan allows individual employees to decide exactly where they'd like their healthcare benefits to go. An employee whose child has braces may opt for dental while one who is prone to accidents may choose accident insurance. 

Overview of Individual Life Insurance

Help your employees safeguard their financial assets against the uncertainties of life, so they can protect their family's future by providing individual life insurance policies. As an experienced life insurance company, Dean & Draper can help companies and individuals decide which policies reflect their lives the best.

We can help with:


  • Term Life Insurance - Term life insurance provides insurance protection at a low, fixed cost for a specified period of time (e.g. 1, 10, or 20 years). Individuals must re-apply once the time period has expired. 
  • Whole Life Insurance - An individual whole life insurance policy covers someone’s entire life. To avoid the hassle of re-applying for term life insurance, whole life insurance requires the policyholder pay a higher premium.

 


  • Universal Life Insurance - Universal life insurance protects someone their whole life and offers flexibility to adjust premiums and death benefits. 
  • Variable Universal Life (VUL) Insurance - VUL allows people the opportunity to invest funds into stocks and bonds with the goal of growing for beneficiaries.

Overview of Dental & Vision Insurance

Medical insurance doesn’t include dental and vision - but you and your employees want to keep your teeth clean and your vision clear. There are several dental and vision policies that can help make your employee benefits coverage complete. Our team can narrow down the one that’s suitable for your business or individual care.

Different types of employee dental insurance and vision to choose from:


  • Dental Maintenance Organization (DMO) - A DMO plan requires you to select a primary care dentist as well as receive all dental care within the plan's network.
  • Preferred Provider Organization (PPO) / Participating Dental Network (PDN)- A PPO or PDN plan lets you choose dentists in or not in your network, but selecting one within your plan is cheaper.

 


  • Dental Indemnity - Dental Indemnity allows you to visit any dentist in the United States without referral, but most plans only cover up to a specified amount. 
  • Employee Vision Insurance - Most Texas employee vision insurance plans cover items like prescription glasses and contact lenses, general eye exams, and even laser eye surgery.

Overview of Disability Insurance

Suffering a disability can make it difficult for an employee to work and make money. By offering disability insurance, you can help take care of your employees in their time of need and set their family's minds at ease. Basic disability plan covers up to 60% of an employee’s salary. Our team will work with you to determine what packages work best for your employees.

Please note: Disability insurance and worker’s compensation are not exactly the same. 

Read about worker’s compensation here.

You can offer your staff both short-term and long-term disability plans:


  • Short-term -This policy is similar to sick leave in that it covers an illness, injury, or other medical condition that is a temporary situation (maternity leave and pregnancy-related issues fall under this category).

 


  • Long-term - These policies can last years depending on the situation. Issues related to joint and muscle disorders, back problems, and diseases like cancer are some of the leading causes of long-term disability, and insurance policies can cover them for specified amounts of time.

Overview of Cafeteria Plans

Give your employees the flexibility to build a benefit package designed by them. A cafeteria plan takes funds from an employee’s paycheck so they can enjoy benefits to pay for expenses related to a number of areas of his or her choosing, from health care to child care to disability insurance. Because the funds are non-taxable, your employee’s taxable income is reduced and they’ll save money on anything covered by the plan. You’ll also save too by reducing employer FICA taxes!

Our team can help build a cafeteria plan that offers coverage for:


  • Hospitalization premiums
  • Term Life Insurance (group or 5-year term)
  • Disability premium & sick leave
  • Supplemental Medical Premium

 


  • Dependent Care Expenses
  • Employee Paid Medical & Dental Expenses
  • Flexible spending accounts

Overview of 401(K)

401(k) plans are one of the most attractive benefits to applicants and current employees. Dean & Draper offers a full line of cost-effective plans that can help you stand out and enable your internal team to save for their retirement. We’ll sort through all the legalese to locate the ideal 401(k) plan for your company!

A 401(k) plan benefits your employees by:


  • Letting them deduct a portion of their paychecks to retirement, which they will not have to pay taxes on until they withdraw from their accounts 
  • Helping them save more through employer matching (optional)

 


  • Use some of their plan to make investments

Overview of Key Employee Life Insurance

The loss of a director, shareholder, founder, or other vital employee could be disastrous for your business. A Dean & Draper key employee life insurance policy is designed to help your company recover from the financial loss resulting from a vital employee's death.

With Key Employee Life Insurance:


  • Your company pays all the premiums and is the beneficiary of the life insurance policy on the key employee's life

 


  • Your company can use it to hire and train a replacement or to pay other business expenses

Overview of Annuities

Offering annuities to your employees can help them supplement their retirement through investments. A guaranteed annuity is a contract between a person and an insurance company that allows them to accumulate money on a tax-deferred basis and arrange for regular income payments when they retire. A life annuity is designed to allow employees to continue receiving income after retirement. The retirement team at Dean & Draper can help you choose the best annuity option!

Our team can help you pick an annuity from three categories:


  • Fixed - A fixed annuity is a type of insurance contract that promises to pay the buyer a specific, guaranteed interest rate on their contributions to the account.
  • Variable - A variable annuity allows the flexibility to pay interest that can fluctuate based on the performance of an investment portfolio chosen by the account's owner.

 


  • Index - An index annuity offers investors solid but varying growth with a low risk.

 

Want to discuss your options? Fill out the form below!

Frequently Asked Questions

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Our specialties include commercial insurance, personal insurance, employee benefits, and risk management.

The service and knowledge you have access to when you work with our company is invaluable. Our team is dedicated to working with our clients and personalizing their insurance to best fit their needs. Our clients are able to speak with a real person, someone who lives and works in the area, who has a desire to serve their community.

We are not looking to be a quoting machine.  We want to build partnerships and long term relationships with all our clients. This involves getting to know you in a series of personalized meetings, where we focus on developing a solution that will meet your needs and works with your timeframe. We’ll engage in meaningful conversation, ask the right questions, cultivate a partnership, empower you to make strategic decisions and execute your solution.

We have developed strong relationships with large and diverse groups of insurance companies, enabling us to negotiate the best terms and insurance coverage for our clients. With more than 200 insurance companies represented, we are able to offer you an unparalleled level of choice and customization!

Ready to wow your employees and applicants?

Dean & Draper Insurance Agency represents some of the best insurance companies in the country, and we can provide an employee benefits solution that will fit your unique needs at a competitive price.