Benefits represent a key aspect of employee compensation, which means many workers want to choose their benefits carefully. Most individuals who begin a new job typically seek some form of guidance on what health insurance plan to choose, how to manage their pension, or how to avoid penalties. Fortunately, New City Insurance is dedicated to providing comprehensive consulting services to organizations that offer employee benefits.
Employee Benefits Consulting Services
Below are a few of the employee benefits consulting services that New City offers.
401k & Retirement
In order to prepare yourself properly and attain this goal, a 401k can greatly benefit anyone’s retirement plan. A competitive 401k & retirement plan can also attract competitive potential prospects, improving the overall workforce in your business.
Utilized as a powerful business tool, benchmarking can help companies grow exponentially. By comparing themselves to the best industry practices, companies can easily identify areas within them that need work and improvement in order to stay head of the competition.
Attracting, and keeping, talented executives may seem difficult, but with a proper executive benefits plan it becomes vastly easier. Being the top positions in a company, executives are highly sought after and motivated to find the best opportunity for themselves. By having top-level qualified executives leading a company, the business is bound to succeed.
Group Health Insurance
A group health insurance plan will help your business cover employees’ health care expenses. It is typically a more affordable approach to insurance than an individual plan because the risks are spread across the employees as a group.
PEOs are responsible for orchestrating and performing all HR duties and responsibilities, so organizations can focus on running and growing their business. New City works with all the major PEOs. Our experienced staff provides recommendations for the best organizations that suit your needs.
By giving employees wellness plans with the ability to track their wellness and offer rewards based on their efforts, they will be able to improve their health and wellbeing, thereby decreasing the amount of sick time needed and increasing their work efficiency and attendance.
How Benefits Consulting Can Help
Here is a closer look at what our benefits consulting services are comprised of and how New City Insurance can help your company.
Planning & Education
The first step of the benefits consulting process involves planning and education. This means helping you set goals for your benefits and informing you about all of your options.
Evaluate Benefits Performance & Perception
After planning, the next step is to assess your benefits’ performance and analyze your perception of this output by comparing this viewpoint to local and industry trends and other relevant benchmarks.
Once all pertinent benefits data has been collected, we can design a plan that is customized to fit your company’s needs and objectives. Of course, it’s important for you to clearly explain your goals and priorities.
Communication & Implementation
Once a strategy for your benefits offerings has been developed by benefits consulting services, we can implement this plan and help you clearly communicate your benefits options to your employees in every way possible. This includes in-person communication, flyers, webinars, and newsletters, which should be especially sent to all employees during the annual Open Enrollment Period but can also be delivered during other times of the year, such as when a large number of new employees are hired.
Support & Improvement
The final step of the benefits consulting process should be continuously followed. It involves providing extensive support to improve the performance of the benefits you offer. In order for this to succeed, it’s important for you to regularly share feedback from your employees with us.
New City Insurance is highly knowledgeable about COBRA, Medicare, Medicaid, and Flexible Spending Accounts (FSAs). Therefore, we can guide you on how to administer these types of plans for your employees. We are also highly familiar with the Affordable Care Act and can help you explain to your employees how to avoid penalties and stay compliant. If your company offers dental and vision plans, our consultants can also help you understand how to explain to your employees how each plan’s coverage levels, premiums and deductibles differ.
Speak To An Experienced Employee Benefits Consulting Firm
Reach out to the professional employee benefits consultants at New City Insurance to learn more about our employee benefits consulting services. Since our founding in 2008, we have been dedicated to providing high-quality insurance solutions to clients throughout the San Diego area. We service organizations in many different industries, including engineering, biotech, IT, manufacturing, and oil and gas.
We offer consulting on a wide variety of benefits, including group health insurance, executive benefits, wellness plans, PEOs (Professional Employer Organizations) and 401k & retirement plans. We also provide benchmarking services so you can compare your benefits offerings to those of your competitors. Call New City today at 888.210.2759 or request a consultation online for more information.