If you’re like most employers we work with, you make decisions about your employee benefits each year based on your medical renewal. Instead of having a proactive strategy, you feel like you only have time to be reactive. You may think that’s the only way to manage a benefits program because it’s difficult finding time and resources to plan and strategize for the future.
Our employee benefit strategists can help you predict your healthcare costs by looking at past trends and projecting future expenses.
Benefits Strategy Beyond Medical
Transitioning to a High Deductible Health Plan and Health Savings Account
The transition to a qualified High Deductible Heath Plan (HDHP) with a Health Savings Account (HSA) may be intimidating. Not only do you have to tell your employees that their deductible is going up, but using an HDHP can be a confusing transition for employees.
Our education strategy and insurance products can help make this transition easy for both you and your employees.
Implementing Effective Communication
You spend a lot of effort communicating your benefits package. However, it may feel like your employees don’t understand. Consider these methods that may help:
- Educational videos
- Email campaigns
- Custom benefits sites
- Group meetings
Conducting a Dependent Verification Review
With medical costs continuing to rise, it’s important to ensure dependents covered on your company’s medical, dental, or vision plans are eligible to participate according to your plan design. A tool we use to help decrease your costs and risk is a Dependent Verification Review (DVR).
Moving to an Online Enrollment
Online enrollments are growing in popularity, but your employees can miss out on benefits education. Consider creating a strategy that doesn't leave your employees in the dark, while also providing the convenience of an online experience.
Health Plan Consulting
The benefits world usually revolves around medical insurance. Between determining plan designs, learning compliance requirements, and receiving rates, it’s hard developing a comprehensive benefits strategy. This vicious cycle drives your employees' benefit satisfaction down and may cause increased turnover.
As your strategic partner, we can provide tools to help you create a long-term plan.
Recent Benefits Strategy Articles
You may want to think twice before having your employees enroll themselves in their benefits.
It’s important you consider all your post-retirement health expenses when planning your retirement savings goals.
Social Security benefits aren’t typically enough to cover all expenses after retirement.