401(k)'s are implemented to help employees plan for retirement.  They allow you access to investments at lower cost and lower initial investment requirements than could be accessed individually.  These plans are extrememly flexible and can be tailored to your specific needs with features such as pre-tax employee deferrals, tax-deferred growth in the plan, potential for employer match or contributions, and many more benefits.  401(k) plans can be set up to include profit sharing provisions as well.  Return to Term List

Aflac offers a series of supplemental insurance plans that are meant to offset out-of-pocket expenses and gaps in coverage in Health Insurance Plans.  Each plan has a very specific benefit package and they range from plans specific to cancer, accidents, sicknesses, and several others.  In a group setting, all plans are voluntary, meaning that each employee may choose to participate or not, and premiums are paid by the employee and are pre-tax in most cases.  Return to Term List

Buy Sell Planning
When a business owner dies, his interest in the business is passed on to his spouse or heirs and they become owners in the business regardless of their ability to perform the job responsibilities.  A Buy-Sell Plan allows companies to continue business operations at the death of an owner by providing funds to the remaining partners or predetermined sucessor for the purpose of buying out the deceased owner's interest from his heirs.  These plans are usually funded through life insurance and must be set up in advance of an owner's death.  This type of plan is applicable to almost all types of businesses, i.e., sole proprietors, partnerships, and many corporations.  Return to Term List

Coinsurance is the specified percentage the insured and the insurer will pay of incurred medical costs up to a defined stop loss.

A specified amount of money that the insured must pay before an insurance company will pay a claim.

Dental Insurance
Employers usually put a dental plan in place to attract and keep good employees.  Dental bills don't normally cause a huge financial loss and most plans stop paying at a predetermined amount.  We can place you with fully-insured dental plans or discount dental plans.  Return to Term List

Disability Insurance
This is to protect your family in the event you became temporarily or permanently disabled.  This will provide a monthly income to you, the amount of which is based on your pre-disability income.  If set up correctly, the benefit can be tax free.  Return to Term List

Fixed Annuities
Annuities are versatile financial tools that can be used to protect your money, to help grow your money, and to ensure a lifelong income stream.  They are more often used as a person approaches retirement or is in retirement.  Return to Term List

Health Insurance
Health Insurance protects your financial assets that otherwise would be depleted by serious medical conditions.  There are several typs of plans available from the very low out-of-pocket expense HMO style plans, to mid-range out-of-pocket expense PPO style plans, to high deductible HSA and PPO plans.  For an individual, the cost of each plan depends on the level of benefit you wish to purchase.  For an employer, the cost of each plan depends on the level of benefit you with to provide to your employees and the demographics of your company.  Return to Term List

Health Savings Account (HSA)
These are part of the New Consumer Driven Healthcare market  Health Savings Accounts are tied to a High Deductible plan.  They allow you to pay for medical expenses with pre tax dollars and tap into the carrier's contracted rates with its providers.  If properly set up and properly funded, an HSA can provide 100% tax-free medical coverage.  Return to Term List

Life Insurance
The most common use of life insruance is to protect your family in the event of your untimely death.  Life insurance provide a death benefit for surviving family members that allows them to maintain their lifestyle and allows time for the family to replace the income generated by the deceased wage earner.  The death benefit can be tax free if set up corrently.  Life insurance can also be used to protect an estate from high estate taxes and inheritance taxes that can otherwise destroy your ability to pass on to your heirs what you have worked your entire life to achieve.  There are several types of life insurance that can be used depending on your specific situation.  Term insurance has a specific benefit perios after which the death benefit goes away if you live past that period.  Permanent insurance does not have a time period associated with it and builds cash calue as time passes that you can have access to during your lifetime should the need arise.  
Group Life Insurance allows you to have life insurance at group rates.  Some plans are portable and can be taken with you if you lose or leave employment.  Often these plans can have guaranteed issue amounts that have no health questions asked.  Under section 79 of the Internal Revenue Code, benefits of $50,000 or less are non-reportable as income, tax free to the employee's beneficiaries, and the premium is tax deductible to the employer.  Return to Term List

Long-Term Care Insurance
These plans are purchsed to protect a person's assets from being spent down in the event that they could no longer take care of themselves and need assistance.  They cover a variety of services and are not limited to nursing home benefits, but can include home health care, hospice, and other services that allow the claimant to maintain the most freedom and autonomy as possible.  Return to Term List

A government-run system of health insurance for people over 65 years of age and for certain younger individuals with disabilities.

Medicare Supplements
These are purchased to pick up the costs that Medicare Parts A and B do not pay for.  Part A is automatic at age 65.  You have 6 months to elect Part B of Medicare iwthout and medical underwriting.  The 6-month election period begins when you turn 65 or when you are no longer working after age 65.  Return to Term List

Retirement Planning
We provide free consultation and help you plan for retirement.  Taking into account your individual goals and financial resources, we will help you determine how much you need to be saving today and in what type of financial vehicle it should be saved.  Our purpose in this area is to help you achieve your goals.  Return to Term List

Section 125/Cafeteria Plans
These are plans that allow employees to take advantage of various benefits pre-tax.  A section 125 plan allows employees to pay for health insurance premiums pre-tax.  Cafeteria plans allow empoyees to put money in an account that allows them to pay for specific products and services, such as certain over the counter medications and dependent day care costs, with pre-tax money.  Return to Term List

Short Term and Long Term Disability Insurance
These types of policies protect you in the event you become temporarily or permanently disabled.  They will pay you a certain percentage of your monthly income.  If set up corretly, this benefit is paid out tax free.  These types of plans can be bought on a group or individual basis.  Employers often offer this product to attract and keep good employees.  Return to Term List

Term Life Insurance
Term life insurance is the most basic form of life insurance  It provides coverage for a specified period of time (e.g. 1, 5, 10, 15, 20, 25, or 30 years) in exchange for a specified premium.  If the death of the insured individuals occurs within this period of time or term period, the insurance company will pay the death benefit.  If the term period expires while the insured individual is still living, the policy terminates and no death benefit will be paid.

The two main types of term life insuran cepolicies are level premium temr life insurance an d yearly renewable term life insurance.  Return to Term List

Vision Insurance
Vision Insurance allows an employer to provide employees with discounted vision care on eye exams, prescription glasses, lens options, contact evaluations and fittings, and more.  Return to Term List

Click on a term below to learn more:
Garry L. Johnson & Associates, Inc.
3850 E. Baseline Road, Suite 121, Mesa, AZ 85206
phone (480) 892.8826   toll free (800) 892.8826   fax (480) 892.0927