When is it Time to Kick Your Employee Benefits Provider to the Curb?

When To Change Benefit Carriers

  When to change benefit carriers?  The quick answer is only after you’ve exhausted all other avenues with your existing carrier. Many brokers will paint this portrait of changing to their carrier will be less expensive, better service, greater satisfaction levels for employees and a vast improvement over your previous supplier.  Reality is often a much different scenario.  In fact, … Read More

9 Best Practices to Setting Up a Successful Employee Benefit Plan

employee benefit plan

All Employee Benefit Plans Should Not Be Created Equal When setting up an employee benefit plan, not enough attention is paid to future sustainability and the important considerations that need to be taken into account setting up an employee benefit plan or changing benefit providers. Weigh these tips very carefully when going through the set-up process and you can avoid … Read More

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

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