Government contractors have unique needs. We provide customized benefit products and unmatched service as a third-party administrator of Davis-Bacon and Service Contract Health and Welfare Plans. The fringe benefit programs we offer provide valuable retirement and medical benefits to Davis-Bacon/Service Contract workers and dependents. Working with your broker, we will design a quality benefit plan that works best for your company and save you money in the process.

Choice + Flexibility + Customisation

Calculate your Savings
 Number of Employees
 Hours worked/Employee/Month
$  Fringe rate/Hour

$   = Contribution per Month
  % Payroll Burden
 (Enter whole number, example 15.3)

$   = Savings per Month!!
$   = Savings per YEAR!!

We know that saving money while keeping employees happy is a balancing act. As your third-party administrator, Akycha can help you achieve both goals at no extra cost.

Here’s what you’ll get from a benefits plan designed uniquely for you that your competitors can’t event touch:

Cost-Savings & Consistent Coverage Via Hour Bank Administration

Hour Bank Administration (HBA) allows an employer engaged in prevailing wage work to take full advantage of the tax savings related to paying their employees’ fringe rate. By paying the entire fringe rate to an employee benefits plan using HBA, the employer reaps the maximum relief from RCA, FUTA, SUTA, etc. The nominal administration fee is paid as part of the fringe rate on a monthly basis.

An hourly system allows the employer to pay an hourly premium based on the number of hours worked by the employees each month. Employees usually work more hours than the minimum necessary to continue benefits coverage. These employees can “bank” additional hours in a reserve account, which provides extended benefits coverage for up to two years in case of any interruption in work. The employee also escapes FICA and Federal Withholding, realizing the savings in increased benefits even when they are no longer employed — two important benefits to employees.

We handle Compliance so you can focus on your business

Our staff of experienced insurance, legal and accounting professionals ensure the fringe benefit programs we offer meet all existing legal requirements while increasing profitability and reducing employers’ payroll burden. Through our customized tracking program, your employees can track their own benefit account activity online. Both you and your employees will always know exactly how benefits are being accrued and used.