Large Business Benefit Packages with 50+ Employees

Businesses with more than 50 employees will probably have a controller and an HR person. More often than not, both are usually involved in the details of the employees’ benefit packages. Some companies review these programs annually, bi-annually or often times the package will coincide with a collective agreement of some sort.
Companies of this size are often subsidiaries of large conglomerates. In many of those cases the benefit packages are already prescribed by a parent organization. So, for the companies that have the independence of benefit package shopping, how can The Benefit Guys help you? Good question.

As Independent Insurance Brokers, The Benefit Guys have access to the widest variety of products and pricing in the marketplace. You may have been using the same insurer in your benefit package program for years, and there is nothing wrong with that. You should ask yourself the last time you checked the market to see if your benefit package is competitively priced and as complete as it could be. Without cost to you, The Benefit Guys will take your current benefit package, review the coverages you have, and then go to the open market of insurance carriers and seek quotes on your particular package of benefits. All you have to do is authorise The Benefit Guys to do the work, and provide us with the information we need to obtain quotes.

Once the quotes are received, The Benefit Guys will provide you with a cost/benefit comparison spreadsheet and sit down with you and review what you currently have, with what is available in the open market. When you have everything in front of you, it is easier to assess what is best for your company and your employees. The Benefit Guys can assist you in upgrading a current program, or in implementing a completely new program.

Perhaps you have heard of Administration Services Only (ASO) as a type of benefit package. The Benefit Guys would be pleased to help you set up an ASO account.  We deal with some very good companies providing those services. Companies can usually save 10% to 15% of their medical and dental benefit costs by implementing an ASO account. If you would rather have that money in your company’s account, then give us a call today.  Or, complete the Client Data page, ask us your specific questions, and one of The Benefit Guys will get back to you with your preferred method of contact.

Health Spending Accounts (HSA) and Health and Welfare Trusts (HWT) have become a lot more popular in the last few years. They will continue to grow. The popularity of Health Spending Accounts is attributed to their complete flexibility. The employer can control costs, as well as give different levels of employees complete flexibility as to the type of coverage they need and want. If your family has a dental expense problem, put the resources of your HSA toward that. Perhaps your focus needs to be on families that have prescription drug costs. And so on. Ask about these great programs that are getting ever more popular.

This large company may in fact be a family owned business, which has its own separate challenges.

Ask The Benefit Guys how we can help your company.