Small Businesses CAN Overcome Administrative Challenges
By Tricia Godin, Employee Benefits Advisor
Small business owners often perform multiple roles within their company, including but not limited to Human Resources, Operations, and Accounting functions. Not to mention that simultaneously they are also growing their bottom line, recruiting, and managing multiple vendor relationships.
Health benefit advisors can significantly assist with relieving the administrative challenges that come with offering a group health plan.
Here are the top 3 ways that your agent should help:
Choosing technology platforms that offer a range of benefit options in one system allows small businesses to provide benefits information and HR resources for their employees in a central location. These tools are available to employees any time throughout the year.
The platform should be easy to use, offer customization for your company, and provide multiple levels of functionality like open enrollment, reporting, and communications.
Automating and simplifying the insurance process helps the employees and saves the employer time, money, and hassle.
Your trusted benefits advisor must offer easy to understand education materials, during open enrollment and throughout the year. A recent study by Aflac shows that 67% of employees find that reading about their benefits is complicated and stressful, making education critical.
Holding annual, in person open enrollment meetings with your advisor, accompanied by customized enrollment materials ensures that your employees have the opportunity to ask question and hear about what’s new with their plans.
Education should include materials that enhance the health plan, such as telemedicine and transparency tools that help employees compare costs and become better consumers of their own insurance. Ongoing support and information from your advisor assists the small business decision makers and helps employees better utilize their benefits.
Voluntary Insurance Offerings
Benefits today need to help protect the lifestyle of your employees, no matter what unexpected events occur. Offering employees a range of products like disability insurance, accident insurance, and critical illness insurance helps to fill gaps that may exist with high deductible plans. With choices, employees can elect the coverages that suit their lifestyle, and group underwriting provides low cost benefits.
Employers who offer voluntary benefits see more productive, less stressed out team members. Benefit offerings are often a differentiator when attempting to attract and retain employees, and voluntary products provide highly desirable benefits with little or no effect on the small business owner’s bottom line.
To learn more about how a Brown & Brown of Detroit benefit advisor can relieve your company of many administrative burdens, please call 586-977-6300.