Broker Check

Employee Benefit Services

I. Audit and Review Current Plans

  1. Prepare report analyzing current plans
    • Review of current plan
    • Subjective comments
    • Recommendations
  2. Develop short-term and long-range plans and objectives
  3. Annual & interim competitive analysis of benefit program

I. Plan Design and Rate Negotiation

  1. Formulate strategy for upcoming renewal and discuss with client 100 days in advance of anniversary date
  2. Request renewal rates from carrier at least 60 days in advance of anniversary date
  3. Negotiate renewal rates with carrier
  4. Evaluate alternative plan design options

III. Competitive Bidding

  1. When feasible, draft bid specifications
  2. Analyze bid responses
  3. Evaluate alternative funding options

IV. Implementation

  1. Implementation meeting
  2. Complete all documents and contracts
  3. Order booklets and ID cards (where applicable)
  4. Prepare COBRA forms
  5. Compliance Management

V. Employee Communications

  1. Conduct open enrollment meetings
  2. Design announcement letters and benefit outline summaries
  3. Answer employee questions

VI. Ongoing Management Services

  1. Assist employees with claim questions and problems
  2. Assist with billing, enrollment cards, ID cards, etc.
  3. Develop and coordinate enrollment materials for new employees
<strong>VII. Plan Management</strong>

VII. Plan Management

  1. Review quarterly claims experience reports (if available)
  2. Evaluate and recommend future options (dental, vision, LTC)
  3. Coordinate retirement plan options (pension, 403(b), annuities)
  4. Coordinate Section 125 (Flexible Benefit) options
  5. Produce and distribute personalized employee benefit statement (optional – additional fee)
  6. Coordinate all benefit plans into a comprehensive package

The Role of the Financial Advisor

Services for the Plan Committee:

  • Provide Investment Policy Statement for
  • Help trustees with initial selection of
  • Annual meeting to review investments to
    ensure investments follow investment
    policy statement
  • Provide meeting minutes in compliance
    with DOL guidelines
  • Group enrollment meetings prior to each
    plan entry date
  • Trustee survey to verify that services are
    being properly completed

Services for the Employees:

  • Group enrollment meetings prior to each
    plan entry date
  • Personal financial planning services to
  • Educational meetings for employees
  • Rollover counseling services for
    terminated employees

For more information about our firm and the services we offer, send us a quick email or call the office. We would welcome the opportunity to speak with you.  |  (703) 860-9215