Benefits
On an annual basis, BalancePoint reviews the market and compares our salaries and benefits to those of other companies similar in size. We have found that BalancePoint is very competitive in the local and national marketplace.
We work closely with our benefit providers to evaluate the plans to see how we can keep costs to a minimum without compromising the plan design, deductibles, co-pays and service. For the past two years, BalancePoint minimally increased premium rates, less than 1%, and in some cases individuals saw a decrease (the national yearly renewal increase for companies our size is 12-17%).
Summary of Benefits
Medical
BalancePoint offers a comprehensive medical plan with an HMO and PPO (high and low deductibles) option. BalancePoint pays a percentage of the premium for employees and their dependents.
Dental
BalancePoint employees are offered a dental plan through Delta Dental. It covers a wide variety of dentists nationwide. BalancePoint pays a percentage of the premium for employees and their dependents.
Vision
BalancePoint partners with VSP to offer employees with vision care (including eye exams, contact lenses, frames and lenses).
Life Insurance
BalancePoint provides each employee with life insurance at no cost to the employee. An employee also has the option to purchase additional life insurance.
Accidental Death & Dismemberment
BalancePoint pays for Accidental Death and Dismemberment insurance for all employees.
Long-Term Disability
All fulltime Employees receive Long Term Disability coverage that would pay 60% of their base salary if an employee were to become permanently disabled.
Worker’s Compensation
Employees receive assistance if injured or disabled while performing their job duties. Coverage for this benefit is fully paid by the employer.
401k
All employees who have completed 6 months of continuous employment with BalancePoint are eligible to participate in the 401k program. Employees are eligible to enroll for 401k during the open enrollment period following their completion of 6 months. Employees can defer up to 20% of their annual salary to the IRS pre-defined maximum.
529 Education savings Plan
We have chosen to partner with Learning Quest (for Kansas residents) and the MOST program (for Missouri residents). These programs offer our employees the option to open state sponsored 529 savings plans for their children or family members. The state sponsored 529 plans provide a tax-advantaged way to invest for college.
Holiday Pay
All full-time BalancePoint employees are eligible for holiday pay upon commencement of the first day of employment. BalancePoint holidays are as follows:
- New Year’s Day
- Memorial Day
- 4th of July
- Labor Day
- Thanksgiving
- Day after Thanksgiving
- Christmas Day
Paid Time Off (PTO)
PTO is available for those who have chosen PTO as part of their hiring package. Those employees are eligible to request the use of accrued Paid Time Off upon the completion of the Introductory Period (60 days).
Payroll
BalancePoint employees are paid on a bi-weekly basis, every other Friday, one week in arrears.
Direct Deposit
Employees may have their pay electronically deposited into a maximum of three (3) personal accounts at a financial institution. If direct deposit is elected, employees will be given a passcode and will have 24/7 access to their pay checks via an online payroll website. If direct deposit is not elected, the employee will receive a regular paycheck.
Referral Program
BalancePoint offers referral bonuses ranging from $250 - $1000.