Abstract
Providing employees with a comprehensive, affordable employee benefits program can create major headaches for employers. Choosing from among a myriad of products in the life, health, supplemental health, supplemental benefits and retirement planning arenas can be a full-time job. So can collecting employee contributions, disbursing payments to multiple carriers, reconciling exceptions and handling government- mandated reporting. But employee benefits can be a key to hiring and retaining good employees in today's low-unemployment, high-mobility business arena. Selecting the right plan service provider (PSP) can be the key. A PSP should be highly customer focused. Its internal systems should enable the PSP to provide two key benefits: a comprehensive common billing program that allows employers to submit a single check for all employee benefits payments to the PSP, which then handles disbursement to all carriers, and highly flexible Section 125 services that maximize cafeteria plan options for employees while keeping the process simple and cost-effective for employers.
Get full access to this article
View all access options for this article.