Attention CEOs and CFOs:
Are Your Benefit Plans and Your Current Broker Really Ready for the Benefits Challenges of This Century?
Or are you and they living in the 20th century?
If you think a group broker’s job is to get you quotes, find affordable coverage and help settle claims problems … you’re only seeing the tip of the iceberg!
For the longest time that’s what brokers were — good guys or gals that quoted your business every year, suggested plan design alternatives, and helped out when somebody had a claim problem. But that’s not what you ought to expect today.
It’s a different world. Employees are more demanding, carriers are more restrictive, and Obamacare and its bureaucratic minions hide behind every corner and under every desk.
Small Employer Problems.
For example, it’s not that easy to “shop your coverage” anymore. If you’re fully insured and have fewer than 50 employees, you’re probably bumping up against the Massachusetts limits on what you can offer.
Your deductible is probably at or near $2000 single and $4,000 family … which is just about as high a deductible as you can have.
So your traditional broker can’t go any lower, can’t raise the deductible to save you money … he’s fresh out of tricks. And s/he hopes you don’t discover that.
Larger Employer Problems.
If you have more than 50 eligible employees carriers can refuse to quote you. And if you have lousy claims – they’ll know that based on your current carrier’s renewal – they will refuse to quote.
And you’re still stuck with the Massachusetts limits.
You’re Losing Control – Want to Get It Back?
What can you do? Are you willing to sit back and swallow whatever the carriers throw at you?
Is that how you built your business? By waiting to see what your opponents and competitors did and then just slumping down and taking it?
I doubt it. You fought the battle on your own turf, not theirs. You created the opportunities by reshaping the market to fit your needs, not someone else’s.
Shouldn’t you do the same thing for the second largest cost (after salaries themselves) your company faces? Shouldn’t you take charge?
Damn right you should.
So what has your current broker suggested? Do they know how to help you actually CONTROL the health cost growth curve?
We do. We know how to insert yourself into the health decisions employees make and steer them toward more cost effective actions. If you’re a proactive, not a reactive, namby-pamby person, you need US. We’ll show you how to take charge and fight the good fight.
Then There’s the Obamacare/ACA Police.
They are coming for you!
That’s a fact. The IRS (yes, the IRS and its enforcement arm, the Department of Labor, are in charge of Health Care enforcement) has announced that they plan to audit EVERY group plan for compliance. So at some point they WILL get to you.
Will you be ready? With a traditional broker, you probably won’t be. You have to worry about:
1095-C Forms. Over 50 Full-time employees? By January 31, 2016 you have to file one form for each and every single full time employee you have – even if they only started work on December 29 or left you on January 3.
Your broker probably hasn’t told you about them … either because he/she doesn’t know about them or because they don’t know how to help you with them. We can not only help you with them, if you’re a BBI client, we do them for you.
Plan Documents – they can be 60-90 pages long, and they’re required. The fines for non-compliance are staggering. Don’t worry, though … we’ll provide those documents for you.
Summary Plan Descriptions – you must give one to every employee in the plan every year. Equally staggering fines. And again, BBI comes to the rescue … they’re yours for the asking as a BBI client.
Never-ending HR challenges. BBI is more than a benefits consultant. We’re our clients’ benefits and compliance partner. We provide you – no matter how big or small you are – with an every-weekday, live HR-question-answering hot line. Call as often or whenever you want (9AM – 8PM, M-F). Free.
- Benefits Summary Books,
- Lab/X-Ray Directories,
- Free HRA administration,
- Free COBRA administration
Yes, we give them all.
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