Solutions

Benefit solutions to fit your needs.

Fringe benefit solutions designed with the competitive government contractor in mind. We offer compliant healthcare benefits, designed for contractors working under the Service Contract Act (SCA), Davis-Bacon Act (DBA), and state prevailing wage and local living wage laws.

Boon builds better fringe benefit solutions for government contractors with our 3Cs approach to benefits: 

Compliance. Competitiveness and Cost Savings.

Solutions

Major Medical Solution

Affordable, hourly-cost, fully insured and self-funded healthcare plans designed to be compliant with the Affordable Care Act and the designated fringe rate for part-time and full-time employees. Competitive medical fringe benefit solutions specifically designed for the unique needs of the government contractor.

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major medical

MEC/MVP and Fixed Indemnity Solution

Offer employees options that are efficient, affordable and sustainable. Minimum essential coverage plans offer the minimum amount of essential coverage required by individuals. If you’re looking to bring value to your employees, but remain cost-conscious, this is your benefit solution.

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Administrative Services Only (ASO) and Trust Management Solutions

Boon’s robust in-house services are a cornerstone of our reputation as an industry innovator. Some of the services that come with our expertise and capabilities include:
 
• Individual [or average] cost accounting
• Hour bank administration
• Paid leave accounting
• Consolidated billing and reconciliation 
• Allocation of premium
• Trust accounting and financials
• COBRA administration services*
• Comprehensive enrollment services*
• Eligibility determination, maintenance and transmission*
• Collection of fringe contributions and payment to benefit provider and vendors*
 
*These services are not included in the base contract,  but can be added for an additional fee.
 

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administrative services

Retirement Solution

Our retirement plans are uniquely designed as a fringe benefit solution for companies working on projects subject to the Davis-Bacon Act (DBA}, Service Contract Act (SCA), and state prevailing wage laws. Boon is dedicated to providing transparent, effective and professional investment management services to 401(a) and 401(k) plans.

Serving as a single point of contact, Boon delivers:

  • ERISA, investment and compliance reviews
  • Ongoing performance monitoring
  • Fund selection
  • Day to day technical support to both plan sponsors and employees
  • Facilitate the 5500 filing, and compliance testing and audit support
  • Subject matter expertise on 401(a) and 401(k) plans
  • Lead educational enrollment meetings and optional participant level advice
  • Ensure accurate and timely processing and reconciliation of contributions

Our team employees a three-phase approach to your retirement plan.

  1. Consult: We do an extensive review of your compliance, plan design, ERISA issues, and investments. We delve into the needs of your company to create a win-win situation for you and your employees.
  2. Implement: During our implementation phase our team provides streamlined plan design optimization with options for customized allocation.
  3. Service: Coordinate all ERISA compliance, help with day to day participant issues, serve as co-fiduciary for the investment selection and ongoing monitoring.
  4. From annual plan reviews to technical questions regarding plan documents, mergers and acquisitions, we’re right there with you.

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retirement

Ancillary Benefits Solution

Boon’s ancillary benefits are designed to provide affordable coverage for all employees and eligible dependents, regardless of the number of hours worked in a month. 

Ancillary benefits include
• Dental
• Vision
• Short-term disability
• Life insurance
• AD&D
• Critical Illness
• Health reimbursement arrangement (HRA)
• 24/7 Telemedicine
ancillary benefits

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