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Meet Richard.
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Richard loves numbers. And they love him back. As his company’s Chief Financial Officer, he’s developed a keen sense for how to handle the inflow and the outflow, the give and the take, and he himself is a real asset to his company.But one thing has been particularly troubling to Richard in the last five or six years. He has a specific expense that just seems to keep growing and he’s not really sure how to control it—health insurance.
Usually, Richard doesn’t get involved in HR issues beyond compensation, and he really hasn’t had to bother with health insurance in the past. But the cost of it these days really has him worried. He can spot trends a mile away, and these trends aren’t good.
These are some of the questions Richard is asking. Find out what he’s learning:
- Can anyone get our health plan to support our corporate goals? That would make sense to me.
Beyond acting as a method to attract and retain quality talent, a company’s health plan can act in concert with an overall employee wellness program to support and maintain your human capital asset. A value based health plan designed by Relph Benefit Advisors can moderate health insurance cost trends while impacting the hidden costs of reduced productivity and absenteeism. - Can anyone impress me with the value they have built with their strategic affiliations?
Relph Benefit Advisors has assembled a strategic team including Mayo Clinic, Verisk Health as well as other vendors around the concept of employee health and productivity improvement. This represents true leverage to control health insurance costs and improve your bottom line. - Is there real evidence of ROI on wellness expenditures? If so, I would be willing to become more engaged in our efforts.
Numerous studies show the link between excess health risks such as smoking and obesity and excess costs in medical insurance premiums. Many executives question however, whether employees can be motivated to make positive changes to reduce these risks. Relph Benefit Advisors has a proven track record of employee engagement and steadily reduced health risks within these engaged populations. - Did you know our employees think the benefits we provide are worth less than HALF of what we actually give them?!? How do I change that?
Generating goodwill from employees for your benefits expenditures is very important and a strong focus on employee communication is central to the process at Relph Benefit Advisors. Communication mediums include employee meetings, custom benefit enrollment guides and employee websites. - When the DOL or the IRS come knocking, I don’t want to have to scramble—how can we be prepared for that?
Every year this task becomes more difficult and the implications for non-compliance more severe. With legal experts on retainer focusing solely on ERISA Welfare Benefit Plans, not only do we have a process for clients to remain in compliance with current laws, we proactively advise clients of what they will be facing in the future. - Every time we grow and hire people, we have to hire more benefits admin staff — is there a better way?
Understanding the need in this area, Relph Benefit Advisors designed our 1Point Services to absorb the increasingly complex transactional tasks involved in day-to-day benefit plan administration, saving costs while leveraging your HR professionals' talents and skills into other areas.