Employee Benefits

EBC assists clients in the design, procurement and ongoing management of health and welfare benefit plans. A narrow focus on benefits alone enables us to provide a comprehensive suite of consulting and brokerage services encompassing:

Strategic benefits consulting
Technical assistance
Vendor selection & management
Legislative counseling and compliance
Document review
Administration assistance
Executive benefit consulting
Employee communications

Strategic Benefit Consulting

The complexity of modern employee benefit plans has forced most employers to simply try to survive the annual enrollment process and stay out of trouble during the rest of the year. EBC clients have taken control and are moving toward using employee benefits as a strategic resource to support their broader business goals. This new direction is the result of tools and processes developed by EBC, including strategic consulting services such as:

Annual benefits objective setting
Analysis of financial/non-financial performance of benefit plans
Insight into legislative issues and their impact on company plans
Introduction to new and progressive benefit concepts

Technical Assistance

EBC assists your benefit management team with a full range of technical issues, from budget development to high-level strategy issues as they pertain to employee benefits:

Annual benefit budgets
Plan design
Underwriting projections
Renewal negotiations
Financial forecasting
Plan cost/claim pattern trending
Employee contribution strategies
Annual final accountings

Vendor Selection and Management

Vendor selection and management are two of the most critical functions we perform for our clients. Our success is largely based on how we do in these areas:

Pre-qualify potential vendors capable of meeting established objectives
Develop bid specifications
Respond to prospective vendor questions and issues
Evaluate proposed services, program design, cost and funding alternatives
Management reporting and recommendations on vendor alternatives
Underwriting negotiations for final contract terms
Implementation and communication plan for new benefit programs
Regular evaluation of service providers
Assist in resolving problems relating to vendor performance
Assist in resolving claim problems or procedures, plan design issues, billing problems, and other difficulties

Legislative and Regulatory Counseling and Compliance

EBC helps clients understand how legislation affects and shapes benefit plans and personnel policies. We assist with the following areas:

ERISA, Federal and State requirements
Legislative impact studies
Form 5500 preparation
Schedule A form preparation
Summary Annual Reports/ Summary Material Modifications

Document Review

Inconsistencies between vendor contracts, plan documents, and employee communications create liabilities for employers if not discovered and corrected. EBC's standard services incorporate thorough document reviews to ensure that vendor contracts, plan documents and employee communications contain the correct eligibility, rate and benefit provisions, including:

Review Plan Documents and amendments for compliance with employer specifications
Review Summary Plan Descriptions (SPDs) and amendments
Review insurance contracts and agreements, and coordinate amendments
Suggest and negotiate alternative language, as required

EBC does not perform legal review of contracts.

Administration Assistance

An evolving benefits program generates a never-ending list of benefit administration tasks. EBC's administration services range from simple forms assistance to comprehensive services. We can:

Assist in development of internal management systems to simplify the administration of various programs
Provide forms and templates as required to enable employer compliance with COBRA, HIPAA and FMLA
Act as an advocate to the benefit management group
Provide comprehensive benefit administration outsourcing

Executive Benefit Consulting Services

Many companies utilize specialized benefit programs that enable executives to build their personal net worth and retirement income with pre-tax dollars. Properly structured executive benefit programs allow businesses to better reward and retain the talent and leadership of their executive teams. EBC addresses executive benefits in the context of an employer's overall benefit plan objectives. Our consultants help you assess the needs of both the organization and individual executives. For highly specialized needs, we may craft a customized solution in collaboration with outside legal, financial planning, and product experts with whom we have established strategic partnerships.

Employee Communication Consulting

EBC develops customized communications with your employees in mind. Project services include:

Communications objective setting and problem-solving
Innovative online and/or paper-based communication solutions
Informative, easy-to-understand content
Expert review for accuracy and legal compliance for communications
Detailed project cost estimates
Project and print production management to ensure materials are delivered on time and within budget.