Employers that want to control rising health insurance costs often consider making design changes to their employee benefit plans. Typically, these plan design changes are effective at the beginning of the plan year, and communicated to employees during an open enrollment period that precedes the start of the plan year. However, depending on a number of factors, employers may […]

Can Employers Make Mid-Year Changes to Benefits Plans

June 6, 2020

Candace Arvin

Can Employers Make Mid-Year Changes to Employee Benefits Plans?

Competitive employee benefits packages are essential for attracting and retaining quality employees, but continuing to offer them can be tough with the rising cost of health care squeezing an already tight budget. Cutting benefits may seem like a necessary reality for some companies, but could have serious long-term consequences.   Retaining top talent is crucial for your company to remain […]

What is a Strategic Employee Benefits Plan

May 28, 2020

Candace Arvin

What is a Strategic Employee Benefits Plan?

An attractive benefits program is vital for your recruiting and retention efforts, but it is also a significant expense. To ensure you are providing a package that is both competitive and economical, you need to know how your offerings compare to those of other employers in your industry. Benchmark data can provide valuable insight for […]

The Importance of Benefits Benchmarking

June 11, 2019

Eric Gibson

The Importance of Benefits Benchmarking

Employers and employees both know the critical role that the workplace plays in offering a better quality of life through a robust employee benefits plan. What employees may not know, however, is how to capitalize on benefit offerings, or how to select the right benefit options for themselves or their families. And employers may not […]

How to Maximize Your Employee Benefits Plan

April 16, 2019

Eric Gibson

How to Maximize Your Employee Benefits Plan

As prescription drug costs continue to increase, it is important for employers to understand the trends behind prescription drug costs and what they can do to better manage their health care expenses. In 2019, the United States is projected to spend over $500 billion on prescription drugs, by some estimates—12 times more than the $40.3 […]

What's the Trend with Prescription Drugs

March 27, 2019

Eric Gibson

What’s the Trend with Prescription Drugs?

With rising health insurance costs, many employers have asked us about alternatives to traditional health insurance plans.  High prices are driven by a number of converging factors, including higher costs for pharmaceuticals, increasingly sophisticated technologies, reduced supplies of care providers and an aging population—and no end to the upward trend is in sight. There are […]

7 Options to Combat Rising Health Insurance Costs

March 21, 2019

Eric Gibson

7 Options to Consider to Combat Rising Health Insurance Costs

Think your company is too small to self-fund your health insurance plan? Well think again. I actually have a client that self-funds with only six employees. Granted, the process is somewhat different than it would be for the big guns, like General Electric or American Airlines. But for most companies, it’s a path to better controlling your […]

Small Companies Can Self-Fund Too

April 17, 2018

Eric Gibson

Small Companies Can Self-Fund Too