Managing your benefits plan costs can be a quick fix, but should be a long-term strategy.
According to the US Department of Labor, employers spend more than 30% of payroll on employee benefits. You – as well as every employer – knows this number is growing.
As health care premiums continue to rise, employers are struggling to find creative, strategic ways to control costs while maintaining competitive benefits that are attractive to the best talent. Analyzing health care costs and utilization, and better understanding employee needs, can help you tailor solutions and develop employee incentives that reduce costs and slow increases over time.
Today, savvy employers use the most accurate benchmarking data and trends to evaluate costs and contrast current plan benefits against the competition by region, state, industry and size. And then they adjust their strategy accordingly.
We provide exclusive access to our comprehensive benchmarking survey of benefit plan design and costs for employers who want to be more informed and confident in their benefit decisions.
Our financial experts control the underwriting process. We work to level the playing field and take the guesswork out of renewals. We use your data to calculate what an appropriate renewal should be, rather than relying blindly on carrier underwriters. This gives Pinnacle HR Solutions clarity and power to negotiate as your health benefits advocate, typically resulting in substantial savings for our clients.