Looking for a new benefits plan?
Whether you're managing a human resources department in a small-to medium size business or running the whole company, you don't want to take you group benefit plan to market just for the exercise! But there are times when it makes sense to compare your premiums - or your coverages to what's available elsewhere. That's where the Chambers of Commerce Group Insurance Plan can help.
Sometimes a plan review is triggered by significant changes inside your organization. You may have a new budget target for your plan, or want to change your coverage. Or , your firm may simply have outgrown your current benefits, with a shift in your demographics or number of employees. Whatever your motivation, you're most likely to be happy with the outcome of a benefit review if you have a clear idea of the kind of change you want. For example...
Many companies have a benefit philosophy that states why the firm offers a benefit plan. This helps provide a framework for selecting the types of benefits that are consistent with the companies objectives. If you don't have a clearly stated benefit philosophy, now might be a good time to develop one.
When you meet with your group benefit advisor, it's useful to have your benefit plan's financial history on hand, including a full profile or "census" of your current employees.
Make a list of the reasons you're conducting a plan review, any deficiencies you want to overcome in an new plan. This will give you a yard stick for measuring alternatives.
When it's time to tackle a benefit review, your Chambers Plan representatives can do the legwork for you, but you're in charge. If there are specific objectives you want to meet, or directions you want your benefit program to take, point your agent in the right direction. That will ensure your time is well spent.
