Want to Learn About the 9 Biggest Mistakes Made on Benefit Plans?

Biggest Mistakes Made on Benefit Plans

  If you think the benefits industry is child’s play, you’re mistaken.  I’ve listened to a number of benefits brokers “pitches” and if I find their approach confusing then chances are you will too!  It’s not difficult to see that the biggest mistakes made on benefit plans are due to misinformation and the self-serving needs of the benefits consultant. Get … Read More

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

How Can Your Benefits Plan Benefit From a Third Party Administrator?

why use a TPA

A prospective client asked me recently ‘why use a Third Party Administrator?’  I thought this was a blog-worthy item of interest and write about it this week as this is not the first time I’ve been asked this question. First of all, it’s important to understand what a TPA is all about and what role do they fulfil within the … 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