Simply put: Better Outcomes.
Positive Financial Impact
Annual health care cost increases average between 10-12%. If all your business expenses trended at that rate, you’d probably be out of business.
But health care is not the only health and benefit-related cost impacting your business. Worker productivity and the associated absenteeism and presenteeism reduce your bottom line.
Our differentiated plan analytics, plan design strategies, vendor negotiation approaches and population health management programming combine to provide a lower overall benefit plan cost. We look to lower the baseline plan cost in year one of our engagement and then manage that cost well below market trend moving forward.
Greater Understanding and Appreciation of Benefits
You spend a considerable amount of money on benefits and consider your benefits package part of your employees’ compensation. But do they? And do they understand their value? Benefit programs only realize their true value when employees understand them.
We continually hear from our clients that our employee communication strategies and the innovative tools we provide make a tremendous difference in how well their employees understand and appreciate their benefit offering.
Improved Health and Wellbeing
Healthy employees are more engaged in their work, more productive and happier in their lives. Healthy employees also reduce the burden of healthcare costs for employers. That said, it must be recognized that physical health is only one component of an employee’s overall wellbeing. And wellbeing is what leads to good health and high productivity.
Our population health and wellbeing strategies are integrated and go beyond traditional approaches. This is necessary to assure the very tactics you deploy to try to improve employee health are not negatively impacting overall wellbeing. Although it may seem counterintuitive that programs to encourage health could damage wellbeing, there are ample examples of just that. This is clearly an outcome you do not want to occur and we will assure that it doesn’t.
Reduced Regulatory Compliance Risk
The ever-changing regulatory landscape can be challenging to navigate. This has been exacerbated by the Affordable Care Act (ACA). There are filing deadlines and records to keep. Most company HR departments don’t have the time, staff, or expertise to keep up with it.
Our expert team of compliance specialists takes that worry off your shoulders. We provide you with up-to-date information and expert analysis so you can navigate the complexities of health care reform and avoid unnecessary risk from non-compliance.
Enhanced Administrative Efficiency
You’ve probably heard the complaints from your HR team or uttered them yourself. All this paperwork takes the focus off spending more time on strategic issues. In fact, research by the Forester Group shows that HR departments spend 60-80% of their time purely on administrative activities.
You can save both time and money by utilizing technology in the implementation and administration of your employee benefits plan. We help our clients select the right IT tools to match your HR needs. As a result, you can significantly reduce administrative costs and time-consuming paperwork while at the same time improving the overall benefits experience for employees.