Employers who partner with The Contractors Plan can offer their employees a full suite of group insurance benefits specifically designed to meet the unique requirements of the prevailing wage industry.
Offering a complete menu of quality benefits helps to attract and retain good workers. Your competitors may already be offering dental and vision insurance for employees and their families. Providing these options helps workers protect their families and puts you on the same level as other employers.
Irrevocable contributions made to a fringe benefit plan on behalf of an employee are calculated on a pre-tax basis, which reduces tax liability on Social Security, Medicare (FICA), and State and Federal Unemployment Taxes (SUTA and FUTA). In most states, this reduction in taxable payroll may also reduce Workers' Compensation Insurance premiums.
Learn how to reduce job costs by offering specialty benefits for your prevailing wage workers.
Learn more about The Contractors Plan:
Request a proposal today or call (800) 328-1519 to learn more.