With the economic recovery continuing to be slow and companies under pressure to overcome a number of challenges, the employee benefits landscape is continuing to change. Rising healthcare costs, new mandates of reform and economic influences are just some of the reasons employees are looking for solutions for the highest potential return on investment. Here are some tips from our benefit professionals on how to maximize your investments.
1. Work with a benefits consultant / advisor who can help you design a “healthcare reform” strategy that includes a consumer directed approach with financial protection.
2. Get the best overall value and experience by partnering with those who can provide expertise and experience in delivering both self funded and employer funded benefits as well as voluntary benefits.
3. Engage your consultant to maximize the value of your benefits by meeting the financial protection needs of your various workforce diversities. Offer a range of benefit choices and include effective benefits education for your employees.
4. Optimize your ROI with helpful services such as employee assistance programs, helpful management of absences from FMLA and various state laws to streamlining HR time with benefits administration and technology solutions. Consider outsourcing services to our sister company, Employee Resource Administration, to help with all of your non-revenue producing functions.