Over the past several years, the area of employee benefits has shifted from a small part of company operation to a critical facet of business. For many employers, insurance costs have become their second largest expense after payroll, weighing heavily on the bottom line. Yet a company’s benefit package can directly affect their ability to recruit and retain quality employees. It also adds to employee morale and helps employees to feel more appreciated.
An evolution has taken place in the insurance industry. No longer is the acquisition of medical insurance as simple as selecting the lowest rate. Today, insurance companies offer a myriad of benefit options, from benefit-rich PPO plans to Health Savings Accounts (HSA) to hybrid plans that utilize higher deductibles in conjunction with a Health Reimbursement Arrangement (HRA). Each option includes pros and cons that require careful consideration.
At PMG Benefits Consulting, we pride ourselves on being leaders in the benefits field. From our extensive knowledge of the industry to our qualified staff of account managers, our clients receive our very best throughout the plan year and not just at renewal time. In addition, our strong relationships with excellent insurance carriers ensure that our recommendations will always be most appropriate for your company. Furthermore, as markets evolve and benefits become even more complicated, our advice will always be honest, factual and relevant to your particular situation.