Companies across the marketplace are now choosing to work with a qualified Sonoma County employee benefits consultant to ensure their team has the support they need in selecting benefits packages. There is a great financial imperative in collaborating with a consultant and so within this latest post, we’ll explore the financial benefits companies achieve in working with their employee benefits consultant.
Estimating projected costs
A Sonoma County employee benefits consultant can help companies save money by providing projections based on their current benefits and based on potential healthcare reform changes in the short-term future. This can help companies mitigate potentially expensive mistakes in their benefits programs and ensure firms are ready for upcoming insurance market changes that will impact their industry.
Streamlining the enrollment process
Reducing the time involved in the enrollment process can help ensure employees are provided with their required benefits in a consolidated timeframe. There is a significant financial advantage to this process because it ensures that talented individuals are immediately integrated within the company’s program, helping companies retain their skilled workforce for the long-term.
Minimize out of pocket expenses
In cases where the healthcare marketplace evolves to integrate new laws that relate to the company and its workforce, a consultant can help to mitigate the cost of these changes to the firm. They can help the firm set out a strategy that ensures their workforce is covered by the required insurance while limiting the potential for financial penalties such as those set out within the ACA (Affordable Care Act).
Reducing unnecessary programs
Waste has a significant cost to the small business when operating their employee benefits. A broker can help a business owner analyze their programs, determine how employees are using these programs, and then cut out any wasted services not being utilized. It’s a process that can have immediate financial benefits in the early weeks of working with a Sonoma County employee benefits consultant.