Business Benefits Group (BBG) provides Benefits Consulting services to Reston, VA businesses. Our professional Benefits Consultants can collaborate with businesses in Reston, VA to develop and maintain strategic employee benefits packages. Drawing the right hire to fill each job function requires an organization to make an investment towards a competitively attractive benefits package. BBG’s Benefits Consultants are capable of supporting Reston, VA businesses through the entire employee benefits planning process—from its administration to its implementation, and its yearly re-enrollment.
Understanding Employee Needs
Most employees we have come across need healthcare and the financial resources that will secure their present and future. They also need to understand the various benefits options that are available to them. At the end of their careers, employees also look forward to retiring with enough financial security to enable them continue living the lifestyle they have been used to during the course of their adult lives. Generous employee benefit packages offer employees to feel secure and satisfied, which could lead to improvements in company loyalty and commitment to the goals and objectives of their employer.
Our Reston, VA Employee Benefits Consulting Services
Our Benefits Consultants will consider the full range of employee wants and needs before determining which benefits to should offer them. In the same way, we will structure a comprehensive employee benefits plan in ways that won’t hurt the bottom line of a business. From the planning and strategy stage down through to the implementation and administration of these plans, our professional Benefits Consultants will help a business set up and maintain an affordable and effective employee benefits program. Our Benefits Consulting services include:
Building a Benefits Package
Our Reston, VA benefits consulting firm will help a business with developing a comprehensive benefits package. We will help to set up plans that cover dental, vision, health, along with any of the other benefits our client’s are interested in acquiring.
When a business decides to offer an outstanding benefits packages to its employees, they will be better placed to return the favor by further dedicating themselves to the objectives and goals of the company as a result of feeling more appreciated. BBG’s professional Benefits Consultants will evaluate which benefits a business is currently offering in order to locate any existing options that may enhance the whole benefits package in the most cost-effective approach.
Each of BBG’s Benefits Consultants possesses the expertise necessary to provide clear advice as to which plans will most effectively serve employees and the entire business. BBG’s Benefits Consultant can assist our clients in Reston to understand the distinctions between each of the numerous plans and the distinctions between such as Self-Funded and Fully Funded plans. We help employers understand the features of each health network, such as PPO, HRA, HMO, POS, and HSA. Each of these plans offer various advantages our Benefits Consultants are able to fully explain and advise on.
Benefits Administration Technology
To ensure that an employee benefits program runs smoothly, businesses need highly effective communication. BBG’s Benefits Administration Technology services will bridge this communication gap, reinforce policy and procedures, and allow easy access to benefits information on mobile platforms including: warehousing of data, online benefits enrollment, and documentation required for compliance. Mobile technology platforms and other technology-backed solutions promote a businesses with cutting costs, with improving operations, and with providing both employers and employees alike with useful benefits data through their fingertips.
Through BBG’s Benchmarking Analysis service, a business can analyze what kinds of compensatory benefits are being offered by competitors to attract and retain their high level talent. This way, our clients can be better positioned to meet or exceed what similar competition is using to draw employees in.
Our benchmarking analysis service will also allow businesses to become aware of any overages and deficiencies in an employee benefits plan. Our Benefits Consultants can provide access to comparisons about the current trends in Retirement Plans, Outsourcing, Human Resource policies, Paid-Time off, Vision Plans, Dental Plans, and Health Care Plans, along with many others.
Custom Open-Enrollment Communication
The open enrollment process would normally require heaping amounts of paperwork and loads of stress, especially when an organization needs to explain to employees the benefits options available. By learning more about the specific benefit interests and needs of employees, businesses can strategically target their communications to them. This type of benefits marketing messaging will depend on a business’ size and the budget it allows for the e the size of a business and its budgeting for these custom communications. As professional Benefits Consultants for Reston, VA businesses, BBG can work closely with employers in order to best reach employees through customized open enrollment communications.
Our Benefits Consultants work to ensure that each yearly renewal occurs. To this end, BBG will get in touch with with a business several months before they need to renew a plan. We will also review the current package and find out whether it would be necessary or desired to modify or enhance existing plans during the renewal stage.
Additionally, we will find out whether a business has undergone any major changes within the past 12 months that would warrant any amendments to the current employee benefits package.
Flexible Spending Accounts (FSAs)
BBG can help businesses in Reston, VA setup Flexible Spending Accounts (FSAs) for employees as part of the employee benefits offering. Some businesses choose to implement FSA accounts because of their unique structure. An FSA account may include greater employee flexibility with how to manage out of pocket healthcare costs using pre-tax money.BBG can help employers understand how to structure FSAs and the advantages they could potentially bring to employers. Employers have to option to use FSAs to make or match employee contributions as a compensatory benefit.
Where COBRA is concerned, an organization with 20+ employees must know the timelines for providing notices, plan change statements, late payment statements, underpayment statements, early termination notices, and event election notices that are related to COBRA.
Our clients can count on BBG for managing their COBRA Administration. We will ensure that our clients are fully compliant with COBRA regulations, as we keep track of the COBRA data of every current and former employee.
By working with us, our clients will be able to educate employees and enroll them into Medicare. This federal health care plan will cover certain medical expenses for anyone over the age of 65 and others who fall below this age bracket, but who have permanent medical conditions and certain physical afflictions.
Consumer Purchasing Guidelines
Our Benefits Consultants offer sound guidance with the breakdown of every employee benefit a businesses expresses interested in. We will show our clients how to figure out specifically “who pays what” for each benefit, and how each of the benefit rating systems function. BBG’s Benefits Consultants are able to help our clients through evaluating and deciding upon benefits packages designed to ideally meet a the needs of a business.
Advantages of Our Reston, VA Benefits Consulting
From the perspective of a job applicant, it is common for them to determine whether a company is a good place to work based on factors including their overall compensation package. Businesses working with BBG’s professional Benefits Consultants will be able to offer attractive packages that will draw in the degree of top talent they are looking for. Additionally, employee packages will promote employee retention and motivate new hires to stay with a company well into the future.
We will review our client’s current plans, check their budget, and determine which benefits employees consider to be the most essential to them. Then, we will walk our clients through the different types of benefits they can offer, help to choose the ones which meet their needs, and structure the programs in the most effective way. Through this, a business will be in a better position to minimize its expenditures while maximizing the profound impact these employee benefits will have on employees.
Licensed, Qualified, Experienced Consultants
Our Benefits Consultants are fully licensed, highly experienced, and very qualified to provide the services BBG has specialized in for over 20 years. Our Benefits Consultants are always ready to answer any question our clients might have about employee benefits—including but not limited to how to structure them, why they will prove beneficial to the company, and why it should to offer any particular benefit. Our clients can relax with peace of mind, knowing that the best guidance is being provided regarding their employees’ benefits. Given the excellence of our track record as well as the decades of benefits consulting experience BBG have in the industry, we look forward to helping our new and existing clients to get the most out of their employee benefits packages.