We at Deland, Gibson take pride in working with our clients on identifying, assessing, and addressing risk. Our group benefits consultants navigate our clients through the uncertainty of the Affordable Care Act and the maze of human resource compliance facing small businesses. Over the past four years we have met and worked with many businesses that share a common risk – they do not have a long-term strategy for sustaining their benefits plan. If your company is like this, you’re not alone, but one of the most important components of controlling and managing your healthcare budget is to have a multi-year strategy.
The Last Few Years.
Let’s look back at your past 2 renewals. If you are like most companies, you are paying more premium for lower benefits than you were 3 years ago. You are probably managing those costs by shopping your plan year to year, changing carriers, increasing deductibles, shifting costs to employees. Instead, you need to take a step back and look at the bigger picture. Look back three years – what has your renewal been? It has likely been between 8-12% each year. An 8% increase for one year may not look that burdensome – until you look at it over a 10 year period:
In 10 years, your premium has almost doubled with a mere 8% increase. How many additional sales do you need on an annual basis to keep the same level of profitability?
Deland Gibson Can Help.
If you have over 50 employees on your group benefits plan, if you are motivated to contain costs long-term, if you are invested to take control, we have a solution.
Connect with you Deland, Gibson adviser to discuss how developing a multi-year strategy can drive down the cost of your group benefits program while retaining the benefits your employees expect.
How to Develop a Comprehensive Group Benefits Strategy
View the video below, presented by Chip Gibson, to learn more about setting up a comprehensive group benefits strategy for your company.
Providing Peace of Mind Through Proactive Service
Deland, Gibson: a Trusted Choice, Five Star Accredited independent insurance agency. Established in Massachusetts in 1900, Deland, Gibson is a 4th generation family-run insurance agency that has thrived working as a trusted advisor for its client base. We work with individuals and businesses to lower their Total Cost of Risk. We analyze a client’s direct and indirect costs and implement risk reduction plans to address areas of business, hazard, or strategic risk.