If your employee benefits plan is engineered correctly, your renewal should be predictable. With a long-term, sustainable approach to employee benefits, there should be no surprises at renewal.
These are main things you need to do to build a benefits plan for a smooth renewal:
1. Choose the right provider
The right benefits plan provider is focused on how to make employee benefits better, how to keep them affordable, and how to provide best-in-class service. At GroupHEALTH, all we do is employee benefits, which means we regularly release features and improvements that automatically improve your plan at renewal.
2. Design the right plan
A well-engineered benefits plan – with the right mix of flexibility and control – means that the needs of both your business and your employees are being addressed. GroupHEALTH’s unique platform gives your business access to a wide selection of unique benefits. When it comes time for renewal, you can focus on plan upgrades and performance, not overhauls.
3. Build cost containment into the plan
Cost containment measures are embedded plan features that make it more difficult, structurally, for your plan costs to go up. At GroupHEALTH our cost containment measures focus on prescription drugs and disability services, two areas where plan costs can quickly spiral out of control. Want to make your renewals more predictable: add cost containment features.
4. Plan for growth and change
Businesses grow and change, and their employee benefits plan should as well. You need a platform that meets your needs every year. When it comes time to renew, GroupHEALTH plans are reviewed for ongoing affordability, compatibility and flexibility.