How To Make Your Employee Benefit Plan Go Further

Make Your Employee Benefit Plan Go Further

To understand cost containment for your employee benefit plan, you need to understand the cost breakdown of a typical plan.  The average cost of employee benefits is about $3,000 per employee per year.  Approximately 15% of that is made up of administration fees, and the rest (85%) comes from benefit claims costs.  Most insurance companies say they will save you … Read More

Why is the EP3 Drug Pool Pushing Companies Back To Insured Benefit Plans?

EP3 Drug Pool

Many companies have been introduced to ASO plans over the last few years by brokers and carriers.  ASO plans can greatly reduce administrative costs, and if a company sets up its benefits plan design can minimize a client’s exposure to unnecessary cost and abuse.  But are insurance companies deliberately trying to push clients back to insured benefit plans with the EP3 Drug … Read More

Can We Talk About Benefit Advisor Fee Transparency for a Minute?

Benefit Advisor Fee Transparency

I get it that doing the right thing doesn’t always yield you the largest compensation, but it will yield you dividends for years down the road.  In the benefits industry, the income of brokers comes largely from annuity business.  Keeping your customer happy doesn’t always mean making your windfall today.  That’s why it’s important to understand about doing the right … Read More

10 Questions to Determine if Your Employee Benefits Plan is Exposed

exposed benefit plan

Is there ever a perfect solution? Probably not in a realistic world where employers want to keep costs contained, and employees want unlimited benefits. There are ways of managing your company’s exposure, yet ensuring quality benefits are available for employees that require them.  You will want to ensure that you don’t have an exposed benefit plan. The following is a … Read More