Hour Banking Solution


The Employer Advantage

As a bona fide benefit trust, the Hour Bank Solution allows you to reduce your payroll burden while complying with all federal and state prevailing wage laws.

Our dollar banking solution provides simplified recordkeeping for your certified payroll. You maintain control over your health insurance plan while outsourcing the complicated eligibility and recordkeeping tasks to the Hour Bank Solution.

The Employee Benefit

With banked dollars your employees health benefit coverage gap is bridged. This may allow for continued coverage so your employees can focus on the work at hand and not worry about a lapse in coverage during slow-downs. Our Prevailing Wage Experts understand the stress a coverage gap or COBRA event can cause and are there to answer your employees' questions.

Why Choose the Hour Bank Solution?

  • Flexibility to work with your trusted Insurance Broker
  • Maintain control over your health insurance benefits
  • Be more competitive
  • Improve employee retention
  • Maintain a healthy workforce
  • Work with Prevailing Wage Experts

Employers Enjoy the Benefits of:

  • Establish and maintain system of accounting
  • Provide financial statements required for all parties, auditors, DOL and IRS
  • Peace of mind that comes with an experienced TPA
  • Reduce your employer payroll burden

Reporting

  • Monthly reporting
  • COBRA Administration
  • Dedicated Service Team
  • Minimal involvement in plan maintenance
  • People who will talk to your participants and understand the ins and outs of working in the construction trades

Connect with Polycomp today

Get your questions answered and explore options for your Benefit Trust. We can review your current plan and offer our opinion at no cost to you.