Business Benefits Group (BBG) provides businesses in Washington, DC with Benefits Consulting services. Our Benefits Consultants can collaborate with employers in Washington, DC to develop and maintain competitive benefits packages. Drawing the right employee to fill each role requires a company to make an investment in an attractive benefits package. BBG’s Benefits Consultants are capable of assisting Washington, DC businesses through the total benefits planning process, including its administration, implementation, and its re-enrollment.
Understanding Employee Needs
Each and every person that a company employs has their own personal set of needs and desires. Oftentimes, some help will be needed for employees to fully comprehend which options are available to them. Employees want peace of mind with believing that personal goals can be met through employment. Knowing that an employee can continue along with their current lifestyle for now, as well as after they retire, is very important to most. This manner in which employee benefits allow financial and health care security allows employees to feel confidant in work and in life so they can better focus on doing their jobs productively.
Our Washington, D.C. Benefits Consulting Services
Paying close attention to the wants and needs of the average employee is essential, not only in which benefits to include, but also how to structure the plans themselves. Starting with the planning, and continuing on to implementation, our team can help businesses to generate and maintain an employee benefits program that is cost effective. Offerings that comes as a part of our consulting services include:
Benefits Administration Technology
Our Benefits Administration Technology solutions have advantages for both employees and employers alike in Washington, DC. By creating access to comprehensive benefits information, compliance documentation, online benefits enrollment, warehousing of data, as well as policies and procedures, businesses can lower operating costs by making vital operations run more smoothly and efficiently through our mobile technology platforms. Additionally, our technology-backed solutions can create a more effective communication strategy that helps benefits plans to be clearly understood and utilized by employees.
Our Benefits Consultants have the experience and knowledge businesses need with finding the perfect plan for a business and its employees. We can help employers to grasp the intricacies of employee benefit plans. Our knowledgeable Benefits Consultants can provide employers with valuable guidance on which plan makes the most for their business. We help to alleviate the stress felt by employers by communicating the considerations and implications of each plan option. BBG strives to make benefit decision-making easier than ever.
Custom Open-Enrollment Communication
The open-enrollment process often includes plenty of head scratching and confusion for business who do not utilize more modern and effective approaches. An organization’s administration and HR will have a ton of paperwork to sort through when it is time to explain every option to employees as well as trying to correctly track and store all of the accompanying documentation. BBG specializes in simplifying the open-enrollment communication process, accomplished by giving clients assistance with a benefits marketing strategy using custom-tailored communications for everything a business needs to explain to its employees concerning benefits enrollment.
A key driver of the success of any organization is benchmarking. A thorough benchmarking analysis makes it possible for companies to understand what kinds of benefits their competition have found are attractive to their employees. A better understanding can give businesses a competitive edge in the marketplace when pursuing new opportunities, or bidding on valuable contracts.
Benchmarking analysis can also be used to help steer businesses in the right direction by identifying any overages or deficiencies in an existing plan. We can provide the access to important trends dealing with: Dental Plans, Paid-Time off, Outsourcing, Health Care Plans, Vision Plans, Human Resource policies, Retirement Plans, and many more.
Build Your Benefits Package
Professional research agrees that employees have a much better response to packages that have a variety of extra benefits, such as vision and dental. When employers offer a better benefits package, workers understand that they are valued and appreciated. In the long term, this translates into a much happier and productive workforce. Our expert Benefits Consultants are able to provide valuable analysis on a business’ current benefits package. BBG can perform a discerning review to make sure that a business is fully aware of any options that would enhance a package’s overall impression to employees. This is done all while keeping administration costs as low as possible.
Flexible Spending Accounts
In addition to our other services, we also can advise businesses on how to implement Flexible Spending Accounts (FSA), with both general advice, as well as how to implement them. An FSA, also know as “flexible spending arrangement,” is a type of account used to store money for out-of-pocket medical costs. When compared to some accounts, the process for reimbursement is simplified as much as possible. Many businesses incorporate FSAs into their overall benefits package, because of the flexibility they provide to employers
Important Pre-Renewal Planning
BBG can provide support with a benefits package pre-renewal planning. A Benefits Consultant will reach out to a business about renewal conveniently ahead of schedule. businesses will be asked if there are any enhancements to a package a business would like to make when renewal arrives, as well as a thorough and complete review of the entire package. Especially important are any relevant changes to a business that have happened in the previous year, which may prompt the need for to modify the existing package.
We also take this time to listen to any feedback pertaining to the benefits package, which is one of the fundamental elements of providing businesses with the quality benefits consulting services BBG is known for.
Medicare, established by Congress in the mid-1960s, is the program that governs our entire federal health care system. While costs dealing with long-term care, and other similar expenditures, are usually not covered, basic protection is given. Those eligible for Medicare include people over 65 years old and those with some ongoing disabilities that can be any age.
The benefits provided by Medicare are split into two parts. Part A mostly covers serious incidents, such as a nursing home, hospital stay or assistance in the home. Once an application for Part A is approved, an individual is then able to try for Part B, which handles things like doctor’s visits and some medical supplies and services.
Our experienced team of benefits consultants will help businesses and employees to understand and navigate the many intricacies involved with the Medicare program.
Does a business accurately understand when the guidelines are for late payment statements, early termination notices, event election notices, COBRA notices, plan change statements, and underpayment statements?
If a company is staffed by an excess of 20 employees, COBRA can be put on the table for discussion. BBG can manage COBRA administration for businesses. We ensure businesses remain in compliance with each regulation, give consulting and keep an eye out for all former and current employees’ information and paperwork. BBG’s Benefits Consultants also ensure that employees are fully educated on procedures to will help avoid fines issued for noncompliance.
Consumer Purchasing Guidelines
One of the first things we are proud to offer is a complete breakdown of any plan that catches the eye. As the size of a business increases, there is the need to evaluate which plan is right for the business, accomplished by understanding use of the various ratings systems, and question of, “who pays for what?” The Business Benefits Group will provide assistance in the decision-making and analysis process to be exceptionally helpful in helping businesses grow in the right direction.
Advantages of Our Washington, D.C. Benefits Consulting Services
The capacity for a business to retain effective employees, without undue financial strain, is something that can make all the difference in regards to a business’ success. This makes it extremely important to select the ideal benefits package to offer them.
BBG’s Benefits Consultants are adept at making the benefits selection and administration processes easy and straightforward. A prospective employee is looking to see if a company has a satisfying work environment and an attractive compensation package. By offering an excellent benefits package, businesses can enhance morale, and increase employee retention rates while inspiring commitment, loyalty, and productivity.
Licensed, Qualified, and Experienced Consultants
The professional Benefits Consultants of BBG work with our clients to unravel the guesswork and misinformation often associated with benefit packages. BBG’s Benefits Consulting services allow our clients to free up resources they would much rather utilize on other operational details—such as remaining competitive in the market.
BBG has advised companies on how to develop and maintain strategic benefits packages for over 20 years. A combination of our proven track record and our extensive industry experience displays BBG’s confidence in our ability to successfully support clients with each of their benefit planning decisions.