Contingent Workforce Solutions

Contractor Services

As a contractor, the benefits of being a W-2 employee of Synergy are extensive. Not only do you save from the employer portion of FICA taxes (7.65%), but you also receive the benefit of Social Security, Medicare, Federal and State Unemployment tax and Workers Compensation payments made on your behalf.

The Managed W-2 Offer from Synergy provides exceptional benefits to contractors including:

Assume statutory benefits

A Synergy W-2 employee receives the same statutory benefits as a full-time employee including Workers' Compensation, unemployment insurance, social security, and all other programs at the federal and state level. This offers additional protections to the contractor.

Avoid costs for incorporating and professional insurances

Synergy takes responsibility and assumes the costs associated with establishing articles of incorporation and registering to do business in each state on behalf of its contractors. Synergy also carries a number of business insurances including professional liability, general liability, Workers Compensation and non-owned auto insurances. These are insurances Synergy pays for its contractors that they would otherwise have to assume on their own.

Avoid quarterly reporting requirements

As a 1099 contractor, there are a number of reporting requirements to the IRS and State Workforce Commissions that must be completed on a quarterly basis. As a W-2 employee of Synergy, there is no reporting required and W-2 forms are automatically issued at the end of the year for income tax purposes.

Obtain lower cost benefits and accelerate payments

With Synergy, our contractors can pay for medical expenses, premiums and dependent care services using pre-tax dollars by subscribing to the Synergy Benefits Program. There is no additional cost to the individual for administering the plan. The Synergy Cafeteria Plan is just another of the flexible services offered to contractors at no additional cost to the client or the contractor. Contractors also receive their payments immediately through Synergy’s direct deposit option. This means contractors do not have to wait for invoices to be paid in order to receive income, which improves cash flow and accelerates contractor’s ability to earn additional interest income on their payments.

Contractor Benefits

Synergy offers a variety of additional benefits to contractors who meet specific conditions to promote retention and maximize overall contractor satisfaction. By offering these services, contractors can focus on providing the best service to clients without unnecessary distractions. Contractor benefits for eligible W-2 contractors include:

• Medical
• Dental/Vision
• Voluntary Insurance Programs
• 401(k) Retirement Plan
• Dependent Care Flexible Spending Account
• Direct Deposit

Medical

Now you can afford health insurance to protect you and your family. Select from one of two low cost health alternatives for you and your family. The Synergy medical plan through Starbridge is a limited benefit medical plan which includes the following types of healthcare benefits:

• Doctors visits
• Accidental injury coverage
• Illness coverage
• Accidental death benefit
• Prescriptions
• Care 24 nurse line
• COBRA administration
• Pre-tax premiums

Dental/Vision

Synergy also offers a cost effective dental and vision program through Starbridge Select.

Dental: The Starbridge Dental Plan reimburses each insured person for expenses incurred for the 45 most common preventive and basic dental procedures. After each insured person meets and annual deductible, the plan pays for up to the maximum covered charge for each included procedure. Additional discounts are available for a dentist who is in the CAREINGTON network.

Vision: When employees enroll in the Starbridge Select Dental Plan, they also receive a membership in the Vision One discount network.

Voluntary Insurance Programs

Synergy offers voluntary insurance programs through Aflac including Accident Expense, Premier Cancer, Personal Sickness and Personal Disability Plans. Aflac insurance policies pay cash benefits directly to you for such expenses as expenses outside of major medical coverage, travel-related expenses, everyday living expenses and lost income.

401(k) Retirement Plan

The 401(k) retirement option is available to all Synergy employees. Now you can reduce your taxable income and save for retirement. By participating in the Transamerica Retirement Plan, Synergy employees can select from numerous diversified investment options to invest in your future.

Dependent Care Flexible Spending Account

Synergy offers a flexible spending account for dependent care expenses using pre-tax dollars to reduce your overall taxable income. Participants must work a minimum of 20 hours per week, and you become eligible at the beginning of the month following your first day of employment.

Direct Deposit for W-2 Employees

Direct Deposit Services allows Synergy to transfer funds directly in to the contractors bank account without the delay of sending paychecks through regular mail.

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