The Business Benefits Group (BBG) provides insightful and impactful benefits consulting services to organizations of all sizes. An important component of any successful business is employing the right personnel. Attracting and maintaining top talent requires an investment from the business, which BBG will help you to stretch the farthest. Offering an enticing employee benefits program will help to make employees feel more motivated and secure. A stable workforce will help your company to grow while also ensuring its longevity.
Who Needs Benefits Consulting?
Keeping the right employees on your team without breaking the bank can make all the difference for your business. This means careful selection of the benefits you offer to your workforce is critically important. New businesses, growing businesses, or established business who want to ensure they are making smart financial decisions when it comes to employee benefits should consider working with a professional benefits consultant. BBG has a reputation of excellence as a benefits consulting firm and offers reliable services that are geared toward helping your business to succeed.
BBG’s Employee Benefits Consulting Services
Considering the full-range of employee needs and wants is an essential part in determining which benefits to offer, in addition to how these benefits plans will be structured. From planning to implementation, BBG’s highly experienced benefits consultants can assist businesses to set up and maintain a cost-effective employee benefits program. Our full benefits consulting service offerings include:
- Plan Comparisons
- Benefits Administration Technology
- Benchmarking Analysis
- Custom Open-Enrollment Communication
- Build Your Benefits Package
- Important Pre-Renewal Planning
- Flexible Spending Accounts
- Cobra Administration
- Consumer Purchasing Guidelines
Our professional benefits consultants have the expertise to provide clear advice on which plans will best serve the needs of your company and employees. We will educate you on the distinctions between Self-Funded and Fully-Funded plans and the seemingly endless acronyms such as PPO, HMO, POS, HSA, HRA, etc. We will explain the unique benefits and considerations of each type of plan so you can make well informed decisions.
Benefits Administration Technology
Communication is a vital element in maintaining an employee benefit programs across the organization. Our Benefits Administration Technology solutions benefit employers and employees alike. It can be used to bridge the communication gap by reinforcing procedures, and creating easy access to benefits information. Additionally, it can help to reduce unnecessary costs by making operations more efficient while providing useful data to employers for decision making. Please visit our page on Benefits Administration Technology.
Benchmarking is key to the ongoing success of an organization. It allows for businesses to analyze employee benefits and other aspects of their competitors. Understanding what other organizations are offering allows for businesses to remain competitive. We help you to bid more competitively on a contract, by illustrating the types of programs your competition is offering.
We also use our benchmarking analysis to assist in recognizing any deficiencies and overages in your current Employee Benefits Planning to ensure you are on target. You will have access to comparisons about trends in: Health Care Plans, Dental Plans, Vision Plans, Part-Time off, Human Resource policies, Outsourcing, Retirement Plans, and much more. Please take a look at our page on Benchmarking Analysis.
Custom Open-Enrollment Communication
The open-enrollment process can entail a maze of paperwork and a lot of head-scratching when it comes time to explain each benefit to employees. BBG can greatly simplify this process by providing customized open-enrollment communication to clients. This packet includes highly valuable data concerning:
- Key Issues to factor into your planning
- Medical Benefit Highlights
- Dental Benefit Highlights
- Vision Benefit Highlights
- Income Replacement
- Build Your Benefits Package
Research has shown that employees respond positively to more comprehensive plans that include medical, vision, dental, disability and a wide variety of other benefits. By offering more a comprehensive benefits plan, they will feel appreciated and in the long run will become happier and more productive employees. BBG’s knowledgeable benefits consultants will analyze your current benefits program to see if there are additional options that would enhance the overall impression of your benefits package, while continuing to keep your costs low. For more, please visit our page on Custom Open-Enrollment Communication
Important Pre-Renewal Planning
Staying on top of renewal is something we take very seriously. BBG’s benefits consultants will contact your organization months before its time for renewal. They will review your benefits package and inquire if you would like to enhance or modify your existing plan upon renewal. Our benefits consultants will also find out if there have been any major changes to your company within the last 12 months that could require modifications to your existing benefits package.
We also use this opportunity to gather feedback about your current benefits package so that we can continue to provide you with the best customer service. If you would like to learn more, please go to our Important Pre-Renewal Planning page.
Flexible Spending Accounts
BBG offers advice and implementation of Flexible Spending Accounts (FSA) to clients. A Flexible Spending Account (also known as a flexible spending arrangement) is a special account used to set aside money to pay for certain out-of-pocket healthcare costs. These accounts simplify the process of reimbursement, and deposits made into these accounts are made with pre-tax dollars. Many organizations utilize FSA in their overall benefits strategy because of the flexibility it offers.
Employers may wish to make make contributions to employee FSA accounts as a part of their benefits package, but are not required to. Every business has different needs, but our employee benefits consultants can help employers to understand the in’s and out’s of FSA accounts and if they are a good option. Please visit our page on Flexible Spending Accounts.
Do you know the timelines for providing COBRA notices, late payment statements, plan change statements, early termination notices, underpayment statements, event election notices, and more?
If your business has over 20 employees, we can discuss COBRA Administration. BBG will provide consulting, ensure COBRA compliance, and keep track of COBRA information for each employee or former employee. BBG’s qualified employee benefits consultants can also assist you in educating your employees and lowering risk for noncompliance fines. For more information, please proceed to our COBRA Administration page.
Medicare is a federal health insurance program established by Congress in 1965. While it gives basic protection against health care costs, it won’t cover all your medical expenses and usually will not cover the costs associated with long-term care. It provides health care benefits for people 65 or older, people younger than 65 who have certain disabilities, and people of any age who have certain permanent medical afflictions.
Medicare benefits are divided into two parts. Part A primarily covers inpatient hospital, nursing facility care, and in-home health care. When you apply for Part A, you can then enroll into Part B. This second part covers most doctors’ bills, as well as some medical services and supplies. BBG’s professional benefits consultants can help you to navigate and comprehend the issues associated with medicare, because a large part of preparing for your retirement is planning for – and understanding – your health insurance coverage at age 65 and beyond. If you would like additional information, please visit our Medicare page.
Consumer Purchasing Guidelines
BBG offers guidance with the breakdowns of each benefit plan you’re interested in. As your company grows, it will need to figure out who is paying for each benefit and how different rating systems function so that you can evaluate which plan is ideal for your business. The Business Benefits Group is ready to assist with analysis and decision making to ensure that you’re heading in the right direction. For more information, please visit our Consumer Purchasing Guidelines page
Advantages of BBG’s Benefits Consulting Services
From the employee perspective, a potential candidate needs to determine if your organization is a desirable business to work for. Offering a quality employee benefits package enhances morale, results in more committed/productive employees, and increases employee retention rate. Investing into the wellbeing of your employees is never wrong. Happier employees means a more productive workplace.
Understanding the Needs of Employees
Your team of employees all have needs for financial resources and health care – and they need some help understanding the options they have available. Employees also want to know that they can manage a vacation once or twice a year without sacrificing their career, and that they are capable of maintaining the lifestyle they are used to when they are ready for retirement.
Licensed, Qualified, and Experienced Consultants
Becoming acquainted with the full spectrum of employee benefits plans and everything involved in the process can seem impossible, but BBG’s experienced benefits consultants will make navigating any employee benefits project straightforward and easy. We can support your organization’s employee benefits initiatives every step of the way including planning, implementation, and ongoing support
The Business Benefits Group has been advising businesses on the most effective practices for decades and our proven track record of success allows for our clients to feel confident in their decisions regarding employee benefits.