Employer Solutions
Niche Benefits typically does not provide services directly
to employers, but call us or contact us online and we'll
match you with a Niche Benefits Qualified broker in your
area. If you have a broker you are working with please have the broker call us.
Employers must have solutions to the increasing costs
of benefits. Niche Benefits has the creative solutions
required
for the employer through a combination of fully insured,
self insured, consumer driven and/or mini-medical/limited
Medical/supplemental benefit products. These products will
meet the needs of the employer while controlling contributory
costs of the employer and reducing administrative concerns
and other potential problems.
For the mini-medical/limited-medical/supplemental benefit
options -- employers (large and small) with full time and/or
part time employees that need to retain the quality employee,
recruit the quality prospect, reduce company cost and improve
company bottom line, must consider the Niche Benefit alternatives
for their labor force. These options can be targeted at
those employees who may never had benefits before. Multiple
benefit plans can be offered as basic, standard and preferred
coverages and with optional coverages as well. Pricing and
effective date flexibility is offered as well, i.e., weekly,
biweekly and monthly, which is determined at the option
of the employer and their payroll system requirements.
Design of self insured, fully insured and/or consumer driven
plans are available through Niche Benefits. The self insured
plans are usually designed for an employer base of 200+
employees but can be done for employers with 100+ employees.
Risk, will be minimized to the employer through the utilization
of specific and aggregate insurance options that allows
maximum liability protection.
Employers that prefer to offer fully insured benefits can
have multiple plan offerings with various optional benefits.
However the cost differential for fully insured benefits
is greater than for self insured benefit plans from an administrative
cost standpoint, i.e. higher to lower respectively.
The "latest" concept in benefit offering is "consumer
driven plans" whereby the employee has selection options
at greater cost participation to the employee and lesser
cost participation by the employer. Niche Benefits
has the capability of designing and implementing this program
for an employer as requested. However, using consumer driven
plans makes it incumbent upon the employer to educate the
employee in proper selection of providers, proper selection
of benefit alternatives and training in negotiating health
care service fees with the provider.
In addition to health plan options Niche Benefits designs
and offers life, disability, dependent life, supplemental
life, catastrophic/critical care illness and long term care
plans for employers. These can be offered on a group and/or
individual basis which allows the employer the greatest
flexibility based upon the budget allocation for benefits
as well as flexibility for its employees. Specialty products can be offered base upon the desires of the employer as well.
Many of the benefit programs offered require minimal participation
with no preexisting condition requirements, no networks,
no co-payments and with ease of administration.
More employees are going without benefit coverage and in
particular health care coverage even though they are employed.
This is occurring for any number of reasons such as:
- Cannot afford the benefits currently offered
- Preexisting Conditions requirements
- Ineligible for benefits offered
- Too many restrictions in accessing health care services
- No benefits offered
Niche Benefits provides a solution to the employer for
their employees in respect to offering a variety of benefit
alternatives that will create and maintain:
- Employee Recruitment
- Employee Competitive Advantage
- Employee Loyalty
- Employee Quality
- Employee Retention
Almost as important to the employer, by offering Niche
Benefits, they will see:
- Increase profit margins* by instituting appropriate
benefit programs directly designed and managed for the
specific employer
- Reduction of Employee Recruitment Costs
- Reduction of Employee Training Costs
- Reduction of Administrative Costs
*Analytical and statistical analysis supporting this information
can be found in The Loyalty Effect -- The Hidden Force Behind
Growth, Profits, and Lasting Value, Chapter 4. The Right
Employees, by Frederick F. Riechheld, Bain & Company,
Inc., Harvard Business School Press, 1996.
To learn more about what Niche Benefits can do
for your Company through a Broker, if you have one, please
submit a brief confidential profile by clicking
here . The information submitted will be keep confidential.
Based upon the information contained in the profile submitted
a response will be promptly returned for your consideration.
If you would like view a representative example of benefit
plans please click on Plan Examples. |
