Gulden Ophthalmics Inc.

225 Cadwalader Ave
Elkins Park, PA 19027

Talking Points

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is Very Good, in the 6th percentile compared to peers.
  • LCM Increased by more than 75% of peers.
Needs Attention

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 6% of peers have changed carriers since last year.
  • Of those who changed carriers, 36% decreased their LCM vs those who stayed with their current provider who saw a 2.8% increase, a difference of roughly 13x.
  • Current Carrier's market share is in the 99th percentile at 26.5% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.113
2021

1.110
2020

1.500
2019
10-30-2019

1.700
2018

1.631
2018

1.700
2017

1.790
2017
03-01-2017

2.719
2016

1.790
2015

1.790
2014
10-30-2014

-
2013
10-30-2013

-
2012
10-30-2012

-
2011

-
2010

-
2009

-

Contacts

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President
(234) 225-4458
Zhft.Jzmjeei@guxxdifnairzqmmwy.lwr

WQFB KHQFITP
Benefits Admin
(519) 019-5541
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President
(152) 018-0161
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Industry Classification

Retirement Benefits

Financials

2021202020192018201720162015
BOY Assets: $ 2,187,272 $ 7,184,394 $ 1,164,817 $ 1,119,791 $ 2,261,843 $ 568,609 $ 662,473
Liabilities: $ 0 $ 1 $ 471 $ 9 $ 5,885 $ 54
EE Contrib: $ 28,453 $ 94,439 $ 78,031 $ 64,088 $ 30,681 $ 32,853 $ 28,640
Emp Contrib: $ 104,545 $ 42,150 $ 90,272 $ 17,467 $ 96,160 $ 1,555 $ 94,799
Income/Loss: $ 244,232 $ 555,534 $ 435,215($ 83,356) $ 786,377 $ 42,441 $ 2,816
Total Income: $ 377,230 $ 408,608 $ 728,498 $ 35,606 $ 165,575 $ 287,157 $ 713,052
Paid Benefits: $ 14,000 $ 86,409 $ 61,695 $ 386 $ 110 $ 6 $ 79
Expenses: $ 600 $ 916 $ 849 $ 791 $ 151 $ 799 $ 983
  Commission: $ 0 $ 29 $ 1 $ 3 $ 36 $ 40
Net Income: $ 362,630 $ 911,873 $ 921,503 $ 22,610 $ 149,059 $ 152,559 $ 125,157
Net Assets: $ 2,549,902 $ 4,473,015 $ 9,438,209 $ 1,354,459 $ 3,615,667 $ 8,334,340 $ 790,017

Participants

2021202020192018201720162015
Total Participants:1324697709330
Active Part.:8280776
Retired Part.:281e196a6cc
Deceased Part.:07daea65

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.