Services
WE ASSIST WITH...
Development of Strategic Plans for Employee Benefits.
We ask the employer to complete a confidential business survey that is divided into four sections:
- Employee benefit strategies
- Executive and key employee benefits
- Business transfer issues
- Anticipated changes (expansion, hiring, modify current plans)
We use this information to design a sponsored benefit plan that aligns with the employer’s goals.
Annual Open Enrollment Meetings.
Our brokers, along with carrier representatives, are always available to participate in a client’s open enrollment meeting. We believe our presence at these meetings allows us to guide employees through what can often be a confusing process.
Resolving Claims Issues and Disputes.
We ask all of our employer clients to have their employees contact us first if they incur a claim issue. Our experience working with claims service personnel helps to resolve problems quickly. BPG’s quarterly claims/service questionnaire has proven to be a useful tool for mitigating claim issues when carriers are made aware of potential concerns on a regular basis. Another way to reduce claims problems is to hold employee education meetings.
Assistance with COBRA and HIPAA Compliance.
State insurance regulations require all licensed life and health agents to have a HIPAA continuing education course. Also, our brokers attend a full-day seminar every year to ensure that they remain current on COBRA and HIPAA compliance.
BPG maintains an ongoing relationship with two national COBRA and HIPAA compliance administrative firms, Infinisource COBRA Compliance Systems and Ceridian Benefit Services, for specific employer client questions.
Negotiate with Insurance Carriers on Clients’ Behalf.
Negotiating with carriers is one of the most important roles a broker can play in the relationship with a client. For large groups, a broker’s successful negotiation with a carrier can save a client several thousand dollars. A key point to remember is that the broker is in control of the renewal process. Therefore, if the carrier wants to retain the business, their renewal must be reasonable or other carriers will win the account.
BPG Difference
Tim Hendricks, CLU, developed a comprehensive approach to employee benefit planning during a 25 year career with a major life and financial services company. This experience provides value added skills in structuring buy/sell agreement funding along with business succession and exit planning.
Mr. Hendricks also complies with annual Federal regulatory and ethics requirements. These stringent regulations are major factors for employing a more complete type of benefit planning at Business Planning Group of Oklahoma.
