With employee benefits being the fastest rising expense that most companies face today, Health Care has become so intricate that employers are actually struggling to find the proper combination of balanced benefits needs and economic stability.
COMPLETE FINANCIAL ANALYSIS
In order to spend plan assistance more effectively, WizdomTree Benefit Solutions give you the ability to change and altered to fit your specific needs. We have conducted thorough reviews of our clients’ current benefits program, performance, and employee data to highlight areas in the benefits programs to make sure we create the absolute best plans for our clients.
- BENCHMARK REPORTING: Successful benchmarking allows a company to understand its competitive position measured up to standard peer groups as well as identifying the areas where it can make improvements to its benefits package. Our signature benchmarking tool exposes the popularity of a variety of benefit practices, cost-sharing arrangements, eligibility requirements and plan provisions, while also enumerating the value of those plan provisions.
- CLAIMS ANALYTICS: Whether it is medical claims or measure ROI of wellness, improve and develop your short and long-term health care strategy. Our medical claims analytics program gives you the ability to rapidly integrate eligibility information strategies to address the needs of the total employee population.
CARRIER & PLAN ANTERNATIVES
Due to the fact that our skilled consultants make it their goal to establish direct relationships with our carrier partners, we are capable of negotiating premiums and plan designs for our hard-earned customers.
PEO: PROFESSIONAL EMPLOYER ORGANIZATION
Running a business isn’t easy and can get extremely complicated at times. Taxes, payroll, legislation, workers' comp insurance, compliance, and employee benefits. All of these administrative factors can become cluttered and a hassle for any business owner, preventing you from focusing on your company. For most midsize companies, WizdomTree Benefit Solutions can offer a co-employment relationship in which you retain the day-to-day control over how you manage your employees, while WizdomTree Benefit Solutions & our partners manage critical HR management and benefits administration responsibilities.
ALTERNATIVE FUNDING STRATEGIES Self-funded benefits solutions allow an employer to cover the actual cost of member claims as they occur, rather than pay a set premium to an insurance carrier for member benefits coverage. Self-funding offers employers of all sizes many distinct advantages.
TAX FAVORABLE EMPLOYEE ACCOUNTS Uncover the prevalence of various benefits practices, cost-sharing arrangements, eligibility requirements and plan provisions, while also quantifying the value of those plan provisions with our advanced benchmark tools. Our benchmarking tools allow a company to understand its competitive edge compared to standard peer groups and identify the areas of its benefits package that require improvement.
- PARKING & TRANSIT: Transit/Parking Plans allow employees to set aside money on a pretax basis. The Money is used to cover certain transit or parking expenses.
- FSA & DEPENDENT CARE: Flexible Spending Accounts (FSA) allows employees to set aside money on a pretax basis.
- HRA: Health Reimbursement Arrangements (HRAs) are a popular method of helping employers control health insurance costs while providing choice to employees. Typically, an HRA is used in conjunction with a less expensive higher deductible or co-pay health plan. With an HRA, employers can set aside money for each employee to pay for health care expenses.
- POP: A POP is a pre-tax salary reduction plan that allows employees to pay for group insurance premiums. It creates tax savings on the premium contributions made for insurance. Employers are exempt from Social Security taxes on contributions and employers will save at least the Social Security matching tax of 7.65%.
- HSA: Health Savings Accounts can be a valuable option when designing a health care program. That is why Choice Strategies has partnered with ACS/Mellon to offer a tremendous resource to help provide a customized solution to our clients and their employees.