Consulting Services & Specialty Benefits

Consulting Services & Specialty Benefits: Creative Benefits has partnered with top local Consulting firms that have a proven history of helping clients improve the performance of their businesses. They take a strategic approach, develop practical recommendations and deliver hard results.

Benefits Administration

Pain-Free Management: Our user-friendly platform makes enrollment easy and helps employees see the value of the plans you offer. Give them the power to manage their own elections, and run reports to see the most popular benefits, contribution amounts, and more.

Business Succession Strategies & Valuation Services*:

Business Owners face unique Estate planning Challenges, such as: Distributing ownership in the business to the next generation fairly. However, when it comes to the business, fair doesn’t always mean equal.

Estate Equalization involves making some tough decisions:

  • Should the business be divided equally between children working in the business and those not involved in the business?
  • If the children not involved in the business don’t receive ownership, what other assets can they receive that are equal in value?
  • Are you comfortable with children outside the business receiving liquid assets versus those working in the business receiving an illiquid asset?
  • Those working in the business may begin receiving their inheritance today in the form of ownership, whereas those not involved must wait until death to receive theirs.

Maybe you want to begin to transfer business ownership interests while you are still alive by utilizing:

  • Lifetime Gifting Strategies
  • Family Limited Partnerships
  • Valuation Discount Strategies

Our consultants can help guide your Estate Planning process.

Additional key areas of estate planning for business owners include:

  • Estate Reduction
  • Estate Liquidity
  • Estate Equalization
  • Business Valuations

Business Valuation Services*: We work with several professional firms to help provide & customize comprehensive business valuations to our client’s specific needs and the purpose of the engagement. The valuation reports typically provide an overview of the company, industry, economy; discusses value drivers; outlines the analysis performed, along with the inputs and assumptions; and incorporates detailed exhibits that support the valuation.

Business valuation requires a solid grasp of both how value has been created prior to the valuation date, and how it will continue to be created in the future. Our team can help facilitate these discussions with your company. Hear a few points to consider:

  • What is the “Fair Market Value” of your business?
  • How did you arrive at that value?
  • Are all of your owners (and their spouses) in agreement on the value?
  • If you don’t value it, the IRS might!
  • Does your Buy / Sell Agreement have a formula clause?

Premium Financing Consulting Services: Life insurance premium financing is a sophisticated strategy involves taking out a third-party loan to pay for a policy’s premiums. As with other loans, the lender charges interest, and the borrower (the insured, in this case) repays the loan in regular installments until the debt is satisfied or the insured passes away, in which case the balance is typically paid off with insurance proceeds.

 This strategy may be useful to business owners & high net worth individuals (HNWIs) who don’t want to liquidate assets to pay for costly life insurance premiums outright.  Our insurance experts can help you determine if premium financing is right for you.

Estate Planning Strategies: A proper estate plan should do the following things:

  • Determine who will get what, how they will get it, and when they will get it.
  • Enable the maximize amount of wealth and assets as possible to pass on to your intended beneficiaries.
  • Minimize estate taxes and administrative expenses required to settle your estate by using any exemptions or credits allowed by the state and federal government.
  • Provide the required liquidity to pay any remaining taxes and expenses.

In other words, a proper estate plan generally allows you to control your future. It assists you in maintaining maximum control over your wealth, allowing you to pass the maximum inheritance on to your heirs with the most protection possible. However, there is a twist for you and that is the fact that your estate includes a different type of asset—the business. And it will most likely be the largest asset in your estate.

Charitable Planning:  Everyone has their own motives for making charitable gifts. It could be generosity, religious belief, gratitude or to benefit your alma mater. Regardless of the cause, the true meaning of your gift is to make the lives of others better. Benefiting your favorite cause can offer more than just self-fulfillment and aid to others; by carefully crafting your charitable giving plan, you can protect those who depend on you and achieve your philanthropic goals. Our experts can help you explore a wide array of charitable and estate planning strategies.

NJ Temporary Disability Private Coverage Programs: Beginning in 2020 New Jersey Employers have the option to obtain coverage from private insurance carriers. Creative Benefits takes pride in reviewing your options with multiple insurance companies, comparing programs and prices to find the best value for your business. To talk with one of our helpful team members about your insurance needs, contact us today.

Compliance & Regulatory Guidance: Insurance marketplace conditions and health care reform are constantly changing, and our firm continually monitors any health, prescription drug, dental, vision, and other insurance industry legislative activity that could affect our clients’ current and future employee benefit programs.

Guidance on State and Federal regulations such as FMLA, COBRA, HIPAA, ERISA, NJ Family Leave Act, W2 Reporting support, and other required compliance filing support services are also available to our clients. Our firm provides a variety of resources to assist clients in complying with federal legislation and state mandates.

Guidance, consultation, and updates on pertinent legislative activity – With the continually changing health care reform and legislative landscape, our firm provides timely updates on topics that impact a client’s employee benefits program now and, in the future,, as well as prepare templates for required annual employer notices. Our internal dedicated service teams provides regulatory and compliance guidance updates on PPACA (Patient Protection and Affordability Care Act) and implications to private and public sectors, as well as state mandates – Our teams are well versed in the provisions that will affect your employee benefits program, and their knowledge of Health Care Reform’s continually changing landscape is timely and accurate at both state and federal levels.

Cost & Expense Analysis via Strategic Purchasing and Consulting Services*:  Our Professional Network of Consultants, Project Managers, Engineers, Intellectual Property Attorneys, and Expense Auditors work together seamlessly to uncover Expense Reductions & Specialized Tax Incentives.

We focus on saving you money so you can focus on growing your company.

Savings Solutions for Virtually Every Industry

Our partners have helped hundreds of companies reduce expenses and obtain large federal tax incentives that often otherwise go uncaptured.  Our services are not limited to any single industry focus.

Over 90% of all businesses can benefit from one or more of our services.

Learn How Your Company Can Save Money On:

Corporate Expense Reductions

Our 11-point expense analysis identifies and searches for potential overcharges and billing errors in key expense areas such as: Credit Card Merchant Processing, Parcel Shipping, Payroll Tax Incentives, Waste & Recycling, Property Tax Incentives, and Workers Compensation Premiums.

Our Strategic Purchasing Services Include:

  • Strategic Sourcing
  • Telecom Expense Analysis
  • Procurement Counsel
  • Expense Reduction
  • Wireless Negotiation
  • Cost Reduction Consulting Services
  • Contract Negotiations
  • Vendor Negotiations

Contact us today to begin working with one of our consultants.

Specialized Tax Incentives

We partner with professional tax consultants who use proprietary software to help identify local, state, and federal tax incentives available for your business.  On average, for a small to mid-size company, our partners are able to identify over $200K of recoverable expenses.

Contact us today to start saving!

Payroll & Human Resource Consulting Services*:

Benefits Made to Order: Administer third-party benefit services like FSAs, HSAs, and COBRA with ease, and supplement your standard plans with complementary programs, giving your employees the benefits options, they need.

Prepaid Legal Services*:

Business Credit Consulting*: We can help you setup your business to setup & meet lender and credit issuer credibility standards to get automated approvals. Build Credit for your business that’s actually linked to your business E.I.N., not your S.S.N.. Obtain business loans to start and grow your business.

*Offered in connection with qualified 3rd party experts.