FAQ’s for employers
Q: What is the Washington State Auto Dealers Insurance Trust (WSADIT)?
A: The Washington State Auto Dealers Insurance Trust Fund was first created in 1948 and provides a unique benefit package for new/used franchise dealers throughout Washington State. Since inception, the WSADIT has proven to give access to competitive rates, streamlined benefits administration, long-term rate stability, and excellent customer service for dealership owners, human resource staff, and employees. The WSADIT is Washington State Auto Dealers Association’s preferred provider of medical and related benefits, however the Association does not administer the Trust.
Q: Who manages the WSADIT?
A: PayneWest Insurance was named the broker of the WSADIT in 2008. Since then, PayneWest has worked alongside our third-party administrator, Benefit Solutions, Inc. and a Trustee Board of dealer/owners to provide superior customer service and rate stability to member dealers and their employees.
Q: What benefit plans are offered through the Washington State Auto Dealers Insurance Trust?
A: The WSADIT offers employee medical, dental, vision, life and disability insurance. There are various medical plan designs available including a base/buy-up option, HMO plan, HRA benefit design, and H.S.A. option. Each employer has a web portal to enroll new employees, terminate employee coverage, run reports, and pay premium. Employee self-service web enrollment is also available. We strive to make the WSADIT a “one stop shop” for employee benefits administration.
Q: Why should dealers consider purchasing their benefit package through the WSADIT?
A: When a dealership is part of the WSADIT, their group medical claims experience is shared with the other participating dealerships. Sharing the risk among a large pool of employers provides participating dealerships with long-term rate stability – protection against unexpectedly high claims costs and catastrophic renewal increases. Additionally, the Trust handles various filings and compliance tasks on behalf of participating employers, eliminating the need for dealers to perform these functions on their own. Finally, PayneWest Insurance provides employers with customized benefit booklets for each participating employee and will perform “face-to -face” employee meetings to educate members and their families about the benefit package available through their employer.
Q: Does the WSADIT assist dealerships with ACA compliance (1094/1095 reporting)?
A: The WSADIT, PayneWest Insurance, and Benefit Solutions have several tools available to help your dealership with 1094/1095 reporting. Contact us for more details.
Q: If I am a small dealership, can I participate in the WSADIT?
A: Yes, the WSADIT can provide a benefit package for groups down to 10 enrolled employees. To receive a proposal, the WSADIT requires a census of your employees, current rates, and benefit summaries.