Maximize your benefits plan,
with trusted employee
benefits consultants in
Scottsdale
We serve a wide range of industries and business sizes!
Employee benefits plans include:
Health insurance
Dental insurance
Vision insurance
Term life insurance
Vacation time
Sick time
Short term disability insurance
Long term disability insurance
Critical illness and accident insurance
Student loan repayment
Tuition reimbursement/529 plans
ID theft protection
Pet insurance
Paid time off
Unlock the best benefits for your team today!
Partner with us to customize employee benefits that attract and retain top talent.
Providing tailored
benefits plans
for your business
At Wise Dollar Insurance, we work with you to design a benefits plan for your needs. And as you grow, we will analyze the market to ensure the benefits grow accordingly. Most insurance brokers do not understand how to construct a benefits program. They will sell you insurance with no consideration for industry standards and trends. We think you deserve better.
Want to know how your benefits stack up against your competitors?
We’ve created a bullet proof 3 step plan to maximizing your employee benefits offerings, so you can maximize the value of great benefits while staying on budget. In our Benefits Solutions Guide you can see a comparison between two companies offering benefits during employee recruitment. See how you stack up.
Why seasoned employee
benefits consultants matter
3 steps to choose the right employee benefits broker
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Employee benefits consulting fees
You might think this is awkward and weird to ask, “how much do you make”? But this needs to be transparent. If your employee benefits broker refuses, it’s time to make a switch. Because it is a lot more than they want you to know. These are a few ways your broker/consultant might get paid:
Flat fee
Per Employee Per Month (PEPM)
Per Member Per Month (PMPM)
Percentage of premium
The other question to ask is if any commissions are baked into the contract. This can be problematic since it will raise premiums or reduce the financial value of the insurance product without your knowledge.
Commissions are not a bad thing. Employee benefits consultants need to make a living too. As long as you know how they get paid.
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Proactively optimize your plan every 1-2 years
Set it and forget it. The more common approach an employee benefits broker will take. Less work means more margin.
However, pricing gets stale. Change occurs rapidly in the insurance market. This is why strategic planning is essential for maintaining a competitive employee benefits package. Your employee benefits broker should evaluate your plan no less than every three years. Medical and health benefits should be reevaluated every 12-24 months.
Just because the insurance plan was the best price, offered the best value, or was cutting-edge at the time it was initiated doesn’t mean it will continue to be so.
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Transparent contracts
Understanding the scope of your agreement should be laid out in the contract with your employee benefits broker. You should have the option to expand or contract services within a reasonable amount of time. Employee benefits programs for small businesses is only part of what you need to have appropriate and well rounded guidance in this field.
Our comprehensive
consulting services
Customized Employee Benefit Plans For Small Businesses
The needs of a small business are different from those of larger employers. Employee benefit packages for small businesses are complex in their own way. Our experts give you more than insurance quotes.
Compliance and Regulatory Guidance
For the most part, insurance is managed at the state level. Employment law changes from state to state and even at the municipal level. There are mandatory benefits required for each employee in that city or state. Whether everyone lives in one state or you have remote workers and offices across the US, you need proper guidance from an employee benefits consulting firm.
Productivity and Cost Savings
Using an employee benefits consulting broker should help you save time and money. You have a business to run. And managing benefits solutions and HR functions is a full time job. Wise Dollar Insurance provides employee benefits consulting that makes your life easier.
Payroll, Employee Handbooks, and Total Compensation Statements
It is impossible to state how important these three items are for all businesses. Whether you have a four employees or have grown to 400 employees, you should carefully consider these assets.
Health, Dental, Vision
This is the keystone of the value propositions in your employee benefits strategies – but are just the basics. If the cost is managed, it will be difficult to maintain the other benefits in your portfolio. Effectively managing costs associated with these essential benefits is crucial; if expenses in this area escalate unchecked, it can become challenging to sustain additional offerings in your benefits portfolio.
Tailored Benefit Packages
Your company has unique values and culture. Your employee benefits plan is an extension of that. Our employee benefits consulting professionals will not tell you what to do. They will teach you how to evaluate your choices and select appropriately.
Retirement and Wellness Programs
A 401k plan is a lot less expensive than you think. In fact it shouldn’t cost you more than $2,000 to $3,000 a year combined if you have 20 employees or less. And it is the most common way the middle class becomes millionaires. As your employee benefits broker, we provide guidance and related insights on best practices to build and maintain this benefits solution.
Improved Employee Satisfaction
Over 70% of employees will stay at a job for their benefits. Your employees are your greatest asset (and also your greatest expense). Turnover is costly. To avoid it, your employee benefits consulting firm must evaluate your employees’ needs and create a plan to show them your care. If employees feel valued, they will work hard for you.
FAQs
Q: Why do we need employee benefits?
Simply put, if you don’t offer them, your competitor will. Employee benefits for your employee wellbeing needs are essential to attract and retain talent. In today’s ultra-competitive job market, can you afford not to?
Q: Can’t we buy insurance without an employee benefits consulting firm?
Absolutely. You are more than welcome to call dozens of carriers and evaluate each plan independently. And after all that work, it still will not save you money. Because all insurance premiums have built in commissions. And that will go to the internal sales representative rather than the broker. Do not spend all of that time researching complex insurance products when you need to focus on your business.
Q: Aren’t benefits too expensive for a small business?
When you pick the wrong broker or consultant… yes they are! But there are very affordable ways for you to provide a benefits plan that aligns with your business goals and budget and supports employee wellness. There are hundreds of insurance plans out there. We will help you find ones that meet your needs. Wise dollar creates employee health benefit packages for small businesses and will help you maintain key employees to help your business grow.
Q: Where do we start?
Health insurance is always first and should include vision and dental. Getting these benefits in place first creates a solid foundation for your business to grow through proper talent acquisition. But offering more benefits programs from the start can set the tone within your corporate culture demonstrating how you care for employee health solutions. It will also attract and retain more applicants for open positions.
Q: No one offers benefits in my industry. Why should I offer them?
If your industry does not offer employee benefits as a part of standard compensation, chances are there is high turnover. And high turnover is expensive. That’s costing you more than the benefits plan would. By offering comprehensive health benefits, you can effectively attract and retain talent, setting yourself apart from the competition and creating stability in your workforce!
Start a no-obligation conversation today
You are the most important part of the insurance equation. Start the conversation and leave us a message. Or if you are ready to speak with us, schedule a meeting with us today. The end goal is to provide you with the best options to protect you and your loved ones.