Benefit Advisory Services

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Benefit Design Consultants assists clients in the design, procurement, and ongoing management of employee benefit plans.      

A focus on benefits enables us to provide a comprehensive suite of consulting and brokerage services:

• Benefit consulting   
• Technical assistance   
• Vendor selection and engagement   
• Legislative counseling and compliance   
• Document review 
• HR administrative assistance   
• Employee communications
• Benefit plans for businesses 
• Executive benefits consulting services     

Benefits Consulting

The complexity of modern employee benefit plans has forced most employers to simply try to survive the annual enrollment process and stay out of trouble the rest of the year. Our clients have taken control and are moving toward using employee benefits as a strategic resource to support their broader business goals. This direction is the result of tools and processed used by our company.

• Annual benefit reviewed
• Analysis of benefit plan performance
• Insight into legislative issues and their impact on company plans   
• Introduction to new and innovative benefit concepts

Technical Assistance

Our company assists our clients with a full range of technical issues, from budget development to high level strategy issues as they pertain to employee benefits: 

• Annual benefit budget
• Plan design
• Underwriting projections  
• Renewal negotiations  
• Financial forecasting
• Plan cost/claim trends  
• Employee contribution strategies    

Vendor Selection and Management  

Vendor selection and management are two of the most critical functions we perform for our clients. Our success is largely based on how we do in these areas. 

• Pre-qualify potential vendors capable of meeting client objectives  
• Develop proposal specifications
• Respond to prospective vendor questions and issues
• Evaluate proposed services, plan designs, cost and funding options
• Management reporting and recommendations on vendor options 
• Underwriting assistance and negotiations for final terms 
• Implementation and communication plan for new benefit plans  
• Regular evaluation of service providers  
• Assist in resolving problems relating to vendor performance 
• Assist in resolving claim problems or procedures, plan design issues, billing problems, and other difficulties.   

Legislative and Regulatory Compliance

Benefit Design Consultants understands how legislation affects and shapes benefit plans and personnel policies. Our service includes: 

• ERISA, Federal, State requirements 
• Summary Annual Reports/Summary Material Modifications   
• Affordable Care act (ACA) Compliance and filing services    

Document Review

Inconsistencies between vendor contracts, plan documents, and employee communications create liabilities for employers if not discovered and corrected. Our company ensures vendor contracts, plan documents and employee communications contain correct eligibility, rate and benefit provisions. 

• Review plan documents and amendments for compliance with specifications  
• Review Summary Plan Descriptions and amendments 
• Review insurance agreements and coordinate amendments 
• Coordinate with client counsel as required as we do not offer legal review.  

Administrative Assistance

An evolving benefits program generates a never-ending list of benefit administration tasks. Benefit Design Consultants administration services range from a simple form to comprehensive outsourcing service. We can: 

• Assist in the development of internal processed to simplify the administration of various plans
• Provide forms and templates as needed to enable employer compliance with COBRA, HIPAA and FMLA.   
• Act as an advocate for your company and employees
• Provide comprehensive benefit administration outsourcing    

Employee Communication Consulting 

Benefit Design Consultants develops customized communications with your employees in mind. Our services include: 

• Coordinate benefit communication with vendor representatives
• Communication objective setting and problem solving 
• Online and/or paper based communication
• Review accuracy of communication
• Project management to ensure materials are delivered on time  
• Employee surveys    

Benefit Plans for Businesses:

• Group Insurance
• Dental
• Disability (STD and LTD) 
• Life 
• Long-Term Care
• Medical
• Managed Care
• Shared Funding
• Healthcare Savings Accounts
• (HSA) •HRA/FSA/Dependent Daycare Assistance Accounts 
• Employee Assistance Programs (EAP)
• Occupational Accident Plans 
• Section 125 "Cafeteria" Plan 
• Voluntary Payroll Deduction Programs  
• Business Retirement: 401k, 403b, SEP, IRA
• Health and Wellness Programs       

Executive Benefits Consulting Services Most employers utilize specialized benefit programs that enable individuals, executives and professionals to build their personal networth and retirement income with pre-tax dollars. Properly structured benefit programs allow their business to maximize financial returns to themselves or better reward and retain the talent and leadership of their executive team. 

Our company helps you assess the needs of both your organization and individuals to met your objectives. For highly specialized needs, we may craft a customized solution in collaboration with legal, financial planning, and product experts with whom we have well established strategic partnerships.  

Benefit Plans for Individuals, Executives, and Professionals:  

• Deferred Compensation
• Key-Person Insurance 
• Executive Bonus 
• Buy-Sell 
• Split Dollar 
• Retirement 
• Estate 
• Disability Income
• Overhead Expense
• Long-Term Care Insurance
• Life Insurance
• Low-Cost Term Life 
• Flexible and Variable Life
• Universal and Whole Life
• Annuities
• Mutual Funds
• Qualified Plans: IRA, Roth IRA, etc.