Benefit Design Strategies
While many employers view benefits as a critical component of total compensation, they struggle with assessing the value of their employee benefits program.
Value can be assessed in terms of how effectively a benefits plan meets employee and employer needs, as well as how efficiently it concentrates the budget on achieving those results.
Over the past 90 some years, we’ve established a solid process to help take the steps to generate a long-term sustainable solution for your employee benefits program and stabilize your costs.
- Gather preliminary data about your current benefit programs, their cost, their benefit structure, and their performance in order to gain a thorough understanding of what has transpired historically.
- Review your overall business needs and benefit strategy.
- Review financial, administrative, employee satisfaction, growth and retention issues in order to assess where potential for improvement may exist.
- Establish goals to be achieved in the short term as well as the long term planning to include your premium contribution strategies and plan design promoting healthier lifestyle.
- Product recommendations will focus on a benefit cost containment, improved outcomes, administrative efficiency, consumer engagement, member education, and financing structure. The objective at this point is to create a benefit program vision for the future.
Medical Insurance Plans
- Fully insured
- Traditional fully insured
- Self-funded and ASP
- Alternative financing
- Partially self-funded
- Medical stop-loss
- Pharmacy plans
- Mental health carve-out plans
- Employee assistance programs (EAPs)
- Actuarial consulting
- Traditional fully-insured or self-funded plans
- Employer contributory or voluntary plans
- Open access plans
- Preferred provider (PPO) plans
- Prepaid (DHMO plans
- Employer contributory vision plans
- Voluntary vision plans
Life Insurance Plans
- Group term and universal life insurance plans
- Supplemental and voluntary life plans
- Executive life insurance plans
Disability Insurance Plans
- Short-term and long-term disability plans
- Employer contributory and voluntary plans
- Group long-term care plans
- Group legal plans
- Group travel accident plans
Contact us for a personal health insurance quote or to learn more.