Your Company’s Services
Does your company provide expert advice to clients? As a small business, do you believe you can offer personalized service that larger firms can’t?
If so, you know what you do well and should focus on doing just that!
It’s easy to see why you would be tempted to buy your health insurance and employee benefits through a payroll service. Or even shopping for it yourself. The service seems convenient and it is an HR fuction.
However, employee benefits aren’t just health insurance. There are several more components to it. And getting it wrong can be costly. Here is what you need to consider:
Cost
As a small business owner, cost will always be a concern… for everything. So, this is where you start. Health insurance is always the biggest expense. But you would be surprised how inexpensive offering a laundry list of other benefits can be if you find the right mix. There is even a way to provide health care to your employees where you can customize the price. Only a broker can offer this.
Choice
Most payroll companies have a limited number of insurance plans. And reviewing all of the policies available on or off the health exchange can be overwhelming. There are hundreds of health insurance options for employers. Obtaining your benefits from a payroll provider or shopping directly with a carrier limits your options. And even worse, they may push higher cost plans without you knowing it.
Comprehensiveness
Benefits are much more than health, dental, and vision insurance. If you are hiring in a highly competitive job market, you need to offer a full suite of benefits such as paid time off, 401k, disability, and term life insurance. Designing a benefits plan requires knowing what the competition offers and exceeding it. A benefits consultant will help you to create and maintain a long term benefits strategy to ensure you hire and retain the best employees.
Creativity
Things change in business, for better or worse. And changes can require a shift in strategy. Whether your business is expanding or contracting, you should be able to offer competitive benefits to your employees. Finding ways to enhance or plan without overwhelming the budget can be tricky. And maintaining similar benefits while reducing expenses without disrupting employees can be virtually impossible without the right advice. This is why you need a trusted advisor and consultant in your corner.
Small Business Benefits Are Complicated
Even if your health insurance and benefits plan are working fine for now, you should work with a specialist to guide you, provide you with options, and work to help you continuously improve.
So let us be your experts. And let you do what you do best.
Contact Us