T. Mann Financial Helps Oregon Small Businesses with Group Benefits
T. Mann Financial works with Oregon small businesses to design, implement, and manage employee benefits packages. Whether you are considering a traditional group health insurance plan, a level-funded plan, or an Individual Coverage HRA, we can walk through the trade-offs and help you choose the structure that fits your workforce, your budget, and your business goals.
This page is intended for business owners, HR managers, and others who make group benefit decisions.
Group Benefit Packages Basics in Oregon
T. Mann Financial can help you understand why and how Oregon businesses can provide group benefits.
5 Reasons Many Oregon Companies Offer Group Benefits
1. Attracting and retaining Oregon's talent
​Group benefits such as health insurance, retirement plans, and life insurance can be meaningful components of a compensation package for Oregon employers looking to hire and retain employees.
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Research by MetLife in 2023 found that 42% of employees "...don’t feel cared for by their employers".
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According to Glassdoor’s Q3 2015 Employment Confidence Survey 80% of employees said they would choose additional benefits over a pay raise. Competitive group benefits packages can help companies attract and hire high-quality candidates.
2. Managing turnover and training costs
Employers often cite reduced turnover as a reason to offer benefits. Replacing and retraining employees carries direct and indirect costs that can be meaningful for small businesses. The size of that impact varies by industry, role, and local labor market.
3. Company image and culture
The 2020 Edelman Trust Barometer found that 65% of employees expect their employer to play a role in societal issues.
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4. Employee well-being and engagement
Access to health and wellness benefits is associated in employer surveys with higher reported engagement and reduced absenteeism. Actual results vary by employer, plan design, and workforce.
5. Oregon tax treatment and legal requirements
Certain benefits, such as qualified retirement plans, can offer tax advantages to both employer and employee. Some Oregon employers are also subject to programs such as the Oregon Saves Program (oregonsaves.com) and Paid Leave Oregon. Offering certain benefits can help satisfy these requirements. Consult a qualified tax or legal professional for your specific situation.
Offering group benefits also comes with trade-offs: monthly premium costs, employer contribution requirements, participation minimums set by carriers, ongoing administrative work, and compliance obligations that vary by the size of your workforce. For many small businesses these costs are meaningful, which is why we start every engagement with a needs assessment before recommending a path forward.
What Benefits Can be offered in Oregon?
Oregon employers can offer a wide range of group benefits to their employees, depending on their budget, industry, and the needs of their workforce.
9 Types of Group Benefits T. Mann Financial can provide to your Oregon Businesses.
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Health Insurance
Coverage for medical expenses, including doctor visits, hospitalization, prescription drugs, and preventive care. See T. Mann Financial's Health Insurance page.
Retirement Plans
Employer-sponsored retirement savings plans, such as 401(k) or pension plans, to help employees save for their future. See T. Mann Financial's Retirement page.
HSAs & FSAs
Tax-advantaged accounts that allow employees to set aside pre-tax dollars for qualified medical expenses.* See T. Mann Financial's Saving for Healthcare page.
Dental & Vision Insurance
Coverage for dental services, such as check-ups, cleanings, and major dental procedures along with vision services like eye exams and contacts and glasses. See T. Mann Financial's Dental Insurance page.
Life Insurance
Provides financial protection to the beneficiaries of employees in case of their death. See T. Mann Financial's Life Insurance page.
Employee Stock Options
Opportunities for employees to own a stake in the company through stock options or equity grants.** See T. Mann Financial's Employee Stock Options page.
Paid Family Leave
Paid Family Insurance leave provides eligible employees with paid time off to care for their health and family needs, promoting work-life balance and financial security. See T. Mann Financial's PFML Insurance page.
Disability Insurance
Offers income replacement in the event that an employee becomes disabled and unable to work. See T. Mann Financial's Disability Insurance page.
Financial Education
Provides financial literacy classes and financial counseling services to employees and their families. See T. Mann Financial's Financial Education Classes page.
*HSAs require pairing with a qualified High Deductible Health Plan, and FSA funds are generally "use it or lose it" within plan year rules.
**Stock options involve market risk, vesting schedules, and tax complexity, and their value can decline.
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Traditional vs Level-Funded vs ICHRA Comparison
Other Group Benefits Offered by Oregon Businesses
Paid Time Off (PTO) or Vacation Days: Allowing employees to take time off for holidays, vacations, or personal reasons while still being paid.
Sick Leave: Paid leave for employees who are ill or need to take care of sick family members.
Maternity and Paternity Leave: Paid time off for new mothers and fathers to care for their newborn or newly adopted child.
Parental Leave: Paid time off for employees to care for their children, including childcare and school-related activities.
Wellness Programs: Initiatives to promote employees' physical and mental health, such as gym memberships, health screenings, or stress management workshops.
Employee Assistance Programs (EAPs): Confidential counseling and support services to help employees with personal or work-related issues.
Commuter Benefits: Pre-tax deductions or employer-provided subsidies for commuting expenses, like public transportation or parking.
Tuition Assistance: Financial support for employees pursuing further education or professional development.
Employee Discounts: Discounts on products or services offered by the company or partnering businesses.
Legal Assistance: Access to legal services for personal or work-related matters.
Employee Recognition Programs: Incentives and rewards for outstanding performance or achievements.
Childcare Facilities or Subsidies: Support for employees with childcare needs, including on-site facilities or financial assistance.
What's unique about group benefits in Oregon?
Oregon offers a comprehensive set of unique group benefits, including state-sponsored paid family leave, family-friendly initiatives, required sick leave, sustainable transportation benefits, and protections for pregnant employees and victims of domestic violence, enhancing work-life balance and employee well-being.
9 Uniquely Oregon Group Benefit Facts
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Oregon Paid Family Leave: Oregon offers a state-sponsored paid family leave program, providing employees with paid time off to care for their own or a family member's health needs, bond with a new child, or handle situations related to domestic violence, harassment, or stalking.
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Family Forward Oregon: This unique initiative encourages employers to offer family-friendly benefits such as flexible work schedules, paid family leave, and on-site childcare support.
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Sick Leave: Oregon requires employers to provide sick leave to their employees, ensuring that they can take paid time off when they or their family members are ill.
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OregonSaves: A state-mandated retirement savings program that offers employees access to a Roth IRA retirement account through their employer, helping them save for their future.
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Sustainable Transportation Benefits: Some cities in Oregon, like Portland, require employers to provide sustainable transportation benefits, such as transit passes or bicycle commuting reimbursements, promoting eco-friendly commuting options for employees.
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Pregnancy Accommodations: Oregon state law ensures that pregnant employees are entitled to reasonable accommodations at work, safeguarding their health and well-being during pregnancy.
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Health Insurance Marketplace: Oregon operates its own health insurance exchange via "HealthCare.gov," offering residents a platform to shop for and purchase health insurance plans. See T. Mann Financial's Healthcare Marketplace Page
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Domestic Partnership Benefits: Oregon has recognized domestic partnerships since 2008, allowing certain benefits to be extended to registered domestic partners, similar to married couples.
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Protections for Victims of Domestic Violence, Harassment, and Stalking: Oregon law mandates employers to provide reasonable accommodations for employees who are victims of domestic violence, harassment, or stalking, including time off for court appearances and related matters.
How T. Mann Financial Can Help Oregon Business Owners with Group Benefits
T. Mann Financial works with Oregon small businesses to help them evaluate and implement a benefits package that fits their workforce and budget.
T. Mann Financial Starts with a Conversation About Your Unique Business Needs
Needs Assessment
T. Mann Financial will start by conducting a thorough assessment of the small business's needs. This involves understanding the company's size, budget, employee demographics, and specific requirements.
Market Research
T. Mann Financial will leverage our licenses and access to various insurance providers to research and identify suitable benefit options available in the Oregon market.
T. Mann Financial can help your Oregon business choose the right group benefits.
Customization
Based on the needs assessment and market research, T. Mann Financial will work closely with the small business to tailor a benefits package that aligns with their requirements. We will consider factors like employee preferences, budget constraints, and legal compliance to create a customized solution.
Comparing Policies
T. Mann Financial will present the small business with a range of insurance providers and plans that meet their needs. We will provide comparative analysis, helping the business understand the coverage, costs, and benefits associated with each option.
T. Mann Financial can apply for, implement, and support Group Benefit Packages
5 Step Group Benefit Implementation, Enrollment, and Ongoing Support
1. Once you have selected your group benefits T. Mann Financial will request quotes from private insurance companies.
2. We help you narrow down the list and then to run a side-by side comparison of your top benefit choices.
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3. Once you decide which specific policies to purchase we help you complete your benefit applications.
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4. T. Mann Financial works as an intermediary between you and the insurance companies to help move policy applications through the carrier's underwriting and enrollment process. Timelines are set by the carrier.
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5. If the policies are approved and paid for, T. Mann Financial will provide ongoing support throughout the life of the group benefits including policy maintenance, premium payments, any necessary updates or changes, and support during claims.
Group Benefits Integrations & Payroll
Using an integrated payroll solution can help streamline HR processes, reduce duplicate data entry, and consolidate payroll, benefits, and tax tasks in one platform. Results will vary by platform and how it is configured.
T. Mann Financial partners with PayChex and Employee Navigator
Paychex
Paychex is a payroll, HR, and benefits administration platform. T. Mann Financial can help set up benefits integrations with Paychex for clients already using the service or evaluating it.
Employee Navigator
Employee Navigator is an HR and benefits administration platform used by many brokers for online enrollment and compliance tracking. T. Mann Financial is set up to work with Employee Navigator for clients whose plans support it.
T. Mann Financial's Role
T. Mann Financial helps to facilitate the implementation and management of these integrated payroll and administrative solutions by offering expertise in selecting appropriate plans, providing guidance on compliance, and ensuring seamless integration with existing HR and benefits systems.
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