Employee Benefits Packages and Solutions
We offer a variety of solutions to maximize benefits plans, while also focusing on compliance and controlling costs for our clients.
AssuredPartners employee benefits department is comprised of a national team of dedicated, highly experienced insurance brokers and professionals who always have your best interests in mind and are passionate about protecting your assets and helping you grow. Our team approach combines local and national professionals to ensure you realize the maximum return on your healthcare investment. In partnering with us, our clients can expect us to:
- Examine population health indicators
- Use advanced data analytics to enhance results and reduce expenses
- Develop and execute modern plans for higher cost savings
- Boost departmental productivity
- Improve efficiency
- Provide employee education
- Enhance employee perception value
- Improve talent retention and recruitment for organizations
- Implement exclusive bundled payment programs
Our mission is to ensure that your company’s employee benefits services support your corporate goals. We achieve this by collaborating with clients to develop, implement and monitor tailored strategies and solutions. We believe that leading the way with experience-based recommendations and offering the latest technology is the way to stay ahead.
We utilize data from all aspects of your employee benefits programs to analyze the status and identify trends impacting the effectiveness. We align your strategic objectives with our current program analysis to develop integrated customized solutions. We will explore solutions including contribution strategies, consumer-driven health care, renewal strategies, wellness initiatives, disease management, plan pricing, plan design, and pharmacy management.
We believe we have the industry knowledge and expertise to offer your employees the highest level of health and welfare benefits that align with your company's culture. This means that we do not blindly throw blanket plans over your employees to make sure they are covered. Rather, we take an analytical approach to all employee benefits services to make sure the benefits we offer add the highest level of value to your employees as well as the company. We believe every decision we make should include an ROI.
Our benefits clients range in size from groups of 2 to over 10,000. Recognizing the diverse needs of different size organizations, we deploy distinct teams and services aligned with the business challenges and objectives of small, medium, and larger employers. We have industry-wide relationships with various top-rated insurance carriers. This allows us to provide a wide range of products and services and gives us a competitive advantage over other agencies.
Benefit Strategy & Plan Design
In developing a benefits strategy for our clients, we will analyze the following items in detail:
- Culture & wellness activities
- Intervention level
- Claim analytics & domestic claim metrics
- Plan design
- Consumerism/HDHP/HSA
- Employee communications
- Contribution strategy & funding
- Income protection
- Compliance
Benefit plan design is one of many factors we analyze in detail when developing a benefits strategy for our clients. We conduct real-time plan modeling to determine ideal plan designs, payroll deductions, plan funding structures, and more.
We also have expertise in evaluating your current funding mechanism and guiding you through the process of transitioning from fully insured to level funded and or self-funded. This process includes captives and non-captive options, as well as evaluating the structure and performance of your stop loss coverage, recommending alternatives as appropriate.
We engage our clients in a series of in-person planning sessions to model benefit plan designs and quantify the impact those changes may have on employee behavior and the bottom line. During these sessions, our experts share an executive summary of their findings from retrospective, concurrent, and predictive analytics. We also discuss the data in real-time, addressing any questions or concerns as they arise.
Case Studies
Analyzing Claims Data Leads to Millions in Savings
PEPM Rx cost took a huge jump in September of 2015, and after a few months, it was clear that this was not an aberration, but the new “normal”. The spike was so profound that year over year Rx costs more than doubled - to the tune of an additional $2.8M dollars. The claims revealed that one drug, being used by three members of one family, was accounting for the entirety of the additional spend.
Ease of Billing and Reporting Saves Immense Time and Effort
Head Start is the primary service the group provides to the public. Because it is a teaching program, a large population of employees (between 200-300) are laid off during the summer. The process of suspending benefits for this group of employees was done manually by the group within the payroll/benefit admin system, which took the group weeks to complete. The ACA reporting done by the payroll carrier was filled with errors, and incredibly time consuming for the HR department. The group manually reconciled billings from several different carriers. During Open Enrollment, when the employees had questions about the benefits admin system or the benefits offered, they called the HR department directly, increasing the workload tremendously.
Employee Benefits Blog
According to a recent report from Fortune Business Insights, the corporate wellness market was valued at $61 billion in 2023 and is expected to grow to over $82 billion by 2030. A thoughtfully...
The enhanced use of healthcare analytics is revolutionizing how employers are able to interpret data about their population that can aid in the successful evaluation and development of their employee...
For many employees, workplace-related stress doesn’t clock out when they do, and the impact of that stress can have an impact on the employee in more places than work. The reach of impact can...
