DALLAS, Oct. 18, 2024 (GLOBE NEWSWIRE) -- via IBN -- Universal Care Groups LLC (“UCG”) is excited to announce that it is now offering a unique, platinum Section 125 Cafeteria plan (“125”) and a Minimum Essential Coverage (“MEC”) plan that will benefit qualifying employers and employees.
“We are excited that UCG has developed a ‘win/win’ product with better employee health benefits and a robust cafeteria plan,” stated Jason Pratt, one of the three Managing Partners of UCG. “By including these products into their compensation package, employers will attract more qualified employees, increase their retention, and reduce the employers’ health costs.
While cafeteria plans have been available to Americans since November 1978, UCG’s plan is different. It is funded by existing FICA deductions, typically resulting in a net savings for the employer and the employee alike. Some key benefits of UCG’s plan include:
- In qualifying cases, tax savings may offset premiums and administrative fees for the employee and employer, respectively.
- Qualified employees may see an average of up to a 4% increase in take-home pay after completion of health management activities.
- Employers potentially could achieve savings in annual taxes of $600-$750 per employee.
UCG’s Section 125 plan is focused upon businesses with 50 or more employees. 125 will positively affect the lives of employees across the U.S. UCG’s robust plan augments existing health care with benefits in primary care, urgent care, dermatology, dental, vision, fitness and other benefits. Learn more at UCG’s website, https://www.universalcarebenefits.com.
UCG’s MEC plans offer employers Affordable Care Act (ACA)-compliant benefit packages that cover essential health needs at minimal costs, and include vital core attributes:
- Compliance solutions for employers’ peace of mind
- Easily accessible services for all users
- Cost effectiveness for all budgets
These MEC plans are designed to meet ACA requirements by ensuring coverage of key benefits, such as preventive care, mental health services, and prescriptions. By offering minimum essential coverage, employers can avoid potential penalties, which in 2024 have amounted to $2,970 per full-time employee annually ($247.50 per month per employee). UCG also provides solutions that help employers avoid a second penalty of $372 per employee per month ($4,460 per year) if the coverage offered is not affordable or fails to meet minimum value requirements.
UCG’s focus on affordability does not compromise quality. Many of the company’s MEC plans are priced at less than $100 per month, providing 24/7 access to telehealth services, virtual care, and a variety of benefits tailored to the needs of today’s workforce. This approach enables employers to offer comprehensive healthcare options that streamline access to care. This includes making coverage easy to understand, utilize, and significantly more cost-effective than traditional major medical plans.
The Heart Of Universal Care Groups LLC
Headquartered in Dallas, Texas, UCG was founded in the spirit of wanting to strengthen the physical and financial well-being of its clients with their products and services. The company channels resources into health and social issues that are close to the hearts of UCG’s founders. UCG is allied with like-minded organizations to have a positive impact on the health and wellness of our communities in as many ways as possible. For example, UCG has supported The Remnant Ministry, based in Dripping Springs, Texas, which is working to nurture a safer society, especially relating to the well-being of children. Whether supporting the security of the young residents at the Cornerstone Children’s Ranch in Eagle Pass, Texas, or helping to rescue trafficked children and bring them home through Operation Millstone, the Remnant Ministry is making a positive difference in the world. Learn about their valuable work at UCG’s website charity page https://www.universalcaregroups.com/charity.
Cautionary Statement Relating To Forward-looking Statements
Announcements, presentations to investors, or other documents or reports filed with or furnished to the United States Securities and Exchange Commission (“SEC”) and any other written information released, or oral statements made, to the public in the future by or on behalf of Universal Care Groups LLC and its group companies (the “Group”), may contain forward-looking statements.
Forward-looking statements give the Group’s current expectations or forecasts of future events. An investor can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as ‘aim’, ‘ambition’, ‘anticipate’, ‘estimate’, ‘expect’, ‘intend’, ‘will’, ‘project’, ‘plan’, ‘believe’, ‘target’ and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective products or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, dividend payments and financial results. Other than in accordance with its legal or regulatory obligations, the Group undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The reader should, however, consult any additional disclosures that the Group may make in any documents which it publishes and/or files with the United States federal government. All readers, wherever located, should take note of these disclosures. Accordingly, no assurance can be given that any particular expectation will be met, and investors are cautioned not to place undue reliance on the forward-looking statements.
Forward-looking statements are subject to assumptions, inherent risks, and uncertainties, many of which relate to factors that are beyond the Group’s control or precise estimate. The Group cautions investors that a number of important factors, including those referred to in this statement, could cause actual results to differ materially from those expressed or implied in any forward-looking statement.
Any forward-looking statements made by or on behalf of the Group speak only as of the date they are made and are based upon the knowledge and information available to the Directors on the date they are made.
All guidance, outlooks, ambitions, and expectations contained in any report, presentation, announcement, or other information accessible on this website should be read together with any specific guidance, basis of preparation, assumptions and/or cautionary statements contained or referred to therein. The information herein does not constitute an offer to sell or an invitation to buy shares or other securities (whether of equity or debt in nature) in UCG or an invitation or inducement to engage in any other investment activities. Past performance cannot be relied upon as a guide to future performance.
Contact:
Universal Care Groups LLC
Email: marketing@ucgrps.com
Telephone: (877) 841-9779
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