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How to Control Benefit Costs

Controlling Benefit Costs are Mostly Your Brokers Responsibility

The main key to your benefit package cost is in the hands of the Broker you are using to help you with your benefit package.  Whether you are looking at putting in your first benefit package or renewing your existing package, consider the answers to these questions:

  • Does your Broker accept the first price offered by insurers or do they go back and discuss a cost reduction?  The Benefit Guys never accept a new quote or renewal quote from any benefits company without questioning the pricing. It may not seen like much when we get even a 2% price reduction, but that reduction is in place forever.  The Benefit Guys have received reductions in cost as much as 30% from a first offer.  This represents real money in the companys' pocket.
  • The only things that can really be negotiated for costs are paramedicals, prescriptions, dental and other non pooled benefits.  Has your broker suggested caps on all or some items, or co-insurance alternatives such as cost sharing with employees?
  • Have you ever looked at the application of a "hybrid" benefit package, which would allow a fixed amount of "money reimbursement" to employees for most medical/dental requirements, yet have a maximum annual amount?  This is tied together with any other traditional type of benefits.
  • Should you be considering an ASO Plan (Administration Services Only)? Call, we'll explain.
  • Have you thought about how the Trillium Drug Plan can tie into your plan and maybe where the new coming National Pharma Care program will fit with your business and staff?
  • How does your current or proposed Broker decide when it is time to take your plan to market?

The Benefit Guys will be happy to have a no obligation, confidential discussion by phone or in person about any concerns you may have.  Call or text John at 519-622-3347, and let over 30 years of experience work for you.

The Benefit Guys offer affordable, meaningful options.   We have access to the best plans and the best advice available today. 

          "No matter how many employees you have - it's perfect.  And it starts with one!"

Our Best Practices Annual Review is available for download.  You need to reduce your benefits liability exposure. The content in this document will help you.