Strategic Benefits Planning
Let’s create a benefits strategy to help you maintain compliance, manage costs and take care of your employees.
Evolve your funding strategies
Your funding strategy for benefits is a key component of your multi-year strategy. As the industry adapts to the Affordable Care Act (ACA), new approaches to the design, delivery and funding of employee benefits have opened up opportunities to enhance your program and manage your costs at the same time. Those opportunities cover:
How smart contribution strategies can reduce costs
How smart contribution strategies can reduce costsYou need to achieve a critical balance with your benefits plan: it must support your cost management objectives and meet your employee needs.
Whatever the right strategic choice might be — defined benefits, outcome-based contributions or defined contribution — your HUB advisor will work with you to get more out of your employee benefits. That’s how you build a multi-year strategic plan.Next :Defined Benefits
Defined BenefitsFor many years, the traditional “defined benefits” approach was the standard contribution strategy. It’s still popular, but with health care costs outpacing employee contributions, there may be a better alternative for your organization.Next :Outcome-Based Contributions
Outcome-Based ContributionsHealth care costs are rising and the Affordable Care Act has changed the rules of the game. Many employers are moving away from defined benefits—instead, they choose outcome-based contribution strategies that set each employee contribution level by their health status. In short, when your employees improve their health, they pay less for their medical benefits.Next :Defined Contributions
When you define your contributions and provide access to a private exchange, you can control costs and expand employees' coverage options. This leads to:
- Improved employee health
- Improved employee engagement
- Improved productivity
- Lower costs