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Use full-service corporate benefit consultants

Building relationships with compensation consulting firms can take time and resources, making it beneficial at times to stick with one agency for all your employee benefit and HR needs. Full-service employee benefits consultants will know your company well and should be proficient in all areas of your business.

I recommend: The Marsh Consulting Group can handle all of your HR needs as well as providing executive benefits consulting. The Arlen Group is a full-service executive benefits consulting that can provide everything from guides and publications you can reference to personalized advisory services on-site or online.

Choose a benefits consulting specialist

While full-service benefits consulting firms may have experience in all facets of your operation, the niche agencies put all of their efforts in one pot and can often bring more experience to the table that can help you get more from your employee benefits efforts. Consider hiring a specialist for a focused approach to your business.

I recommend: CEC works with human resource departments primarily with disability issues and the associated employee obligations that go with the territory. Contact Competitive Human Resources Strategies for assistance designing executive development programs.

Get the most from benefits consulting services

You should consider working with employee benefit consultants who bring a vast knowledge of technological advancements that you need to remain competitive. There are so many advancements in HR software and benefit plan options that you need to investigate all the alternatives to remain competitive.

I recommend: Use Colletti-Fiss for executive benefits consulting to set up incentive and commission plans that will pump up your team and increase your sales by providing the right level of employee compensation to motivate and drive your sales. Contact Custom Communications for assistance devising a employee benefits consulting plan to educate and motivate your employees as they begin to understand their benefits and your role in providing them.

Helpful advice for making the most of this Guide

• •  When you are working with benefits consultants, make sure that they have a way to offer measurable results on a regular basis.

1. Benefits consulting firms are a popular choice for both new and established organizations.
2. Employee benefits consulting is a feasible alternative for organizations seeking to consolidate their benefit packages.
3. Benefits consulting services recommend a variety of benefits service providers, such as Aetna, Blue Cross & Blue Shield, and United Health Care.

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Select benefits consultants that support a wide variety of benefits services

Many employee benefits advisers focus on medical, dental, and vision insurance for organizations. However, it is strongly recommended that businesses seek additional alternatives to incorporate into their benefit plans, such as 401(k) services and other ancillary practices.

I recommend: Diversified Benefit Services provides medical, dental, and life insurance, as well as Health Insurance Portability and Accountability Act (HIPAA) consulting and administrative offerings. Marsh Consulting Group offers a financial analysis of benefit costs to improve an organization's bottom line.

Select benefits consulting firms with extensive experience in your field

Educational institutions often require different benefits plans than typical for-profit organizations, and vice versa. Select benefits consulting companies with a high level of knowledge and experience in your field to identify the most cost-effective solutions for your organization.

I recommend: Benefit Brokers & Consultants, Inc. offers a wide range of benefits consulting services for school districts and other educational providers. Ward Services is in the business of matching benefits plans to the employers that require them on an individualized basis for cost effectiveness and retention.

Choose employee benefits consultants with expertise that extends beyond benefits programs

Health and benefits consultants that also offer a wide range of human resource solutions are a popular choice for organizations seeking extensive changes from their current practices, such as wellness initiatives.

I recommend: ArlenGroup offers Worksite Wellness Seminars as part of a comprehensive benefit package. Astron Solutions provides comprehensive human resource tools to promote effective human resource management, including benefits.

Helpful advice for making the most of this Guide

• •  Seek corporate benefit consultants that are experts in their fields. Local organizations are often more aware of the limitations of the surrounding economic environment, so they are generally available to offer highly specific consulting services for your benefit needs.

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Go to an Internet executive benefits consulting school

You can get a Human Resources certificate or a professional degree through a number of online universities and other training programs. While most companies will want to see at least a Bachelor's degree, any other certificates you can acquire will aid in your job search. Additional training after you've earned a degree will help as you advance in your career as an insurance benefits consultant.

I recommend: The International Foundation of Employee Benefits Plans is total resource center to find training and news. Benefits Link will keep you up to date on training, jobs, industry news, as well as blogs and chat rooms.

Earn certificates in benefits consulting

Even after acquiring your advanced degree, you need to keep up with the industry and pad your resume with other certificates and training programs. In addition to the seminars you attend, look for niche subjects to gain proficiency in to enhance your employment opportunities. Add each to your resume after you receive it.

I recommend: The Agent Broker Training Center is good place to go for employee benefits advisors looking to add to their credentials before moving out on their own. Become one of the successful employee benefits consultants with a degree from The American College online.

Join benefits consultants associations for training

Most professional organizations offer continuing education programs as well as seminars and other opportunities to increase your benefits consulting services knowledge. Take advantage of the training while you are making those important connections that can land you a job and further your career.

I recommend: The National Association of Alternative Benefits Consultants offers a number of certification courses for members. Gain greater skills and certifications through the many courses offered by the American Management Association.

Helpful advice for making the most of this Guide

• •  Consider using an employee benefits consulting coach as you navigate the training and preparations that it takes to get your own business started. A coach can help you stay focused and on target with your goals.

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HIPPA

HIPPA or the Health Insurance Portability and Accountability Act is known most commonly as the law that helps people keep their information private. It also protects workers from losing their health benefits when they change or lose their job. A benefits consultant can help you determine the processes to ensure this law is followed in your organization.

I recommend: For some frequently asked questions and answers check out the Department of Health and Human Services.

Flexible spending accounts

A flexible spending account is a financial account that can be set up by an employer and that has some tax advantages for the employee. A benefits consultant can help you set up one of these accounts so that employees are able to set aside a portion of their earnings, before taxes, to pay for qualified expenses.

I recommend: There are some important rules you need to be aware of when you offer flexible spending accounts and you can them at Kent State University.

COBRA

COBRA or the Consolidated Omnibus Budget Reconciliation Act mandates, among other things, that employees will be permitted to continue their health insurance coverage after leaving employment. A benefits consultant can help you understand the complexities of this law.

I recommend: The Department of Labor offers a lot of in-depth information on this law and you can find it here: U.S. Department of Labor.

HMO

An HMO or health maintenance organization is a type of health care organization that tries to improve the quality of care and reduce the costs of providing health benefits by monitoring and managing these programs. Within an HMO, doctors and other professionals agree to treat patients following the guidelines and limits agreed to. There are innumerable HMOs now in existence and a benefits consultant can help you find the best one for your business.

I recommend: Need more detail? You can find all you need to know at wiseGEEK.

Self-funded plans

A self-funded plan is a health and disability insurance plan that an employer offers to its employees and for which it pays the claims. There are some obvious risks that a benefits consultant can help you consider if you are thinking about implementing one of these plans in your organization.

I recommend: Administrative Enterprises offers a good overview of self-funded and employer funded insurance plans.

Long term care

Long term care is an assortment of services for people who are elderly, have a chronic illness or disability and who cannot care for themselves. Typically the services are custodial such as assisting with tasks like cooking, bathing, using the bathroom and dressing. Usually not considered a standard element in an employer sponsored benefits program, a benefits consultant can help identify insurance companies that provide this type of care.

I recommend: AARP has some key issues to consider for this benefit.