Regardless of how big or small a business is, employee benefits are one of the biggest (and most expensive) decisions they make year after year. Although open enrollment lasts for just a couple of months, businesses begin re-evaluating their employee benefits plans many months to almost a year in advance.
For Choice Benefits Advisors—Dan Fremling and Lucas Wolford—that means they get work with customers year-round to help assess, plan, and execute their benefits plans.
“Whenever we come in to help a customer develop a benefits plan that’s right for them, we want them to know that we’re here to do more than just advise,” said Dan. “We’re committed to understanding their business and their employee base to help them make informed decisions that are both beneficial and cost-effective.”
When coming into a customer relationship, Dan and Lucas usually start their process by looking at the current plan. Is it a high deductible or low deductible plan? What kind of network is it connected to? How much is being paid out for premiums?
After that, the next step is to see how well that plan complements the employees and their needs. Everything from industry to location to employee demographics is considered. And by taking a look at a variety of these factors, Dan and Lucas are able to help businesses determine things like how many plan options should be offered, what benefits to include, and what carrier to go through.
After fully analyzing a business’s existing employee benefits plan, Dan and Lucas can begin redesigning their benefits package. Understanding how much an employee benefits plan can cost businesses, it’s important for them to design a plan that’s viable for the business, but also keeps employees’ best interests at heart. Even making a change as simple as changing a premium payment structure can help businesses and employees save a lot on costs.
What happens once they’re finished?
“Honestly, that’s just the beginning!” said Lucas. “Even after a plan is in place, we make a point to check-in on our customers on a regular basis throughout the year to gauge where things are at and to start thinking about what we can improve on the next year. Our job is never done and that’s the way we like it.”
Meet the Choice Benefits Team
Products sold through our Insurance and Wealth departments are: NOT A DEPOSIT • NOT FDIC INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT GUARANTEED BY THE BANK • MAY GO DOWN IN VALUE