Employee Benefits Insurance
As an employer one of your objectives is to retain and attract quality employees, and according to the majority of surveys conducted on the subject, providing a quality employee benefit program is essential to achieving that goal. Sometimes, however, providing the quality program can be prohibitively expensive.
At Pierson & Smith, we combine our broad experience of quality employee benefit plans with strategic financial modeling in order to satisfy employees and employer. We offer a full range of insured and self-insured Medical, Dental, Life, Disability, and other ancillary plans to employees, retirees, and expatriates.
Our work is best defined by one of the following categories but frequently there is a good deal of crossover in terms of the products and services we provide.
Brokerage
- Determine goals and needs
- Analyze current plans and funding methods
- Research market
- Summarize insurance quotes and make recommendations
- Coordinate enrollments
- Conduct on-site meetings
- Intervene in claims and administrative issues
- Negotiate renewals
Consulting
- Prepare benefits and financial benchmarking studies
- Prepare due diligence for M&A; coordinate consolidation/divestiture of plans
- Conduct claim audits and analysis
- Negotiate performance guarantees
- Evaluate available funding methods (fully insured, self-insured, captives)
Administration
- Administer benefit plans: process enrollments, changes, terms
- Audit bills and consolidate monthly vendor invoices
- Provide COBRA and HIPAA administrative services
- Administer Flexible Spending Account plans and pay claims
Communications
- Conduct employee and management focus group surveys
- Prepare customized enrollment materials and SPDs
- Prepare customized on-site presentations
- Produce benefit statements, newsletters, employee communications
For more information, please contact us.
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