Frequently Asked Questions
Power Questions
Why are some employers significantly more successful than others?
Why are some employers able to turn their benefits program in to high yielding investments, while others suffer from outrageous rate increases year after year?
Why are some companies able to recruit and attract productive employees and others can’t?
Answer
It’s because they learned how to regain control of their benefit expenses. By developing a written multi year employee benefits blueprint that supported their business plan they were able to save time and money and meet their corporate objectives. They went from being victims to being in charge. They became more profitable, and had happier employees.
FAQs
Q - If 90% of my corporate assets walk out the door each night, what can I do to make sure they return each day?
A - The short answer is to turn an expense into an asset. The longer answer is that you need to change the way you think of employee benefits as simply being a necessary evil - an expense - that you must have in order to attract employees. Instead, you need to recognize that employee benefit programs can truly become a strategic value to your company so you can recruit, retain and make productive your most valued employees.
Doing this will allow you to:
- Free your employee's time and concentration so they can focus all of their attention on their jobs; and …
- Free your HR time so you can focus all of your attention on strategic, rather than time-consuming tactical issues
The simple way to accomplish this is to recognize that effective employee benefit programs are comprised of the right mix of administration, compliance and communication. Selecting the right employee benefits advisor who can guide you through the many possibilities and who can provide the right set of products, plan designs, services and use of technology can mean the difference between whether they come back tomorrow or not.
Q - What is a Health Savings Account (HSA)?
A - Health Savings Accounts (HSAs) are new, tax-advantaged savings accounts that can be used to pay for qualified medical expenses for eligible individuals, their spouse, or dependents with high-deductible insurance coverage. HSAs can be set up by employers, employees, or a combination. It has the look and feel of a 401(K) account for medical expenses. Click here for more information on HSAs.
Q - What is the Benefits Blueprint SolutionTM?
A - It is a coaching system that teaches your business leaders how to turn your employee benefits into an incredible investment instead of an expense. It is designed to help you save time and make money, recruit and retain productive employees and meet your corporate objective. Through this process you develop a Benefits BlueprintTM.
Q – How does "coaching" differ from "consulting"?
A – A consultant is the type of person that will borrow your watch and tell you what time it is; a coach will train you on how to tell time yourself. A well-designed coaching process is one that is structured and allows its participants to walk away with a feeling of truly owning the result; rather than an "expert" walking in with a blank yellow pad and simply espousing his/her knowledge.
Q – So what is a Benefits BlueprintTM?
A – A multi-year game plan for creating and managing all aspects of a great employee benefits program, including benefits design, market bidding, communication, administration and compliance. It typically saves companies a great deal of money.
Q – What do you mean by "save money"?
A – Case studies show a significant return-on-investment on the fees for the Benefits Blueprint SolutionTM. The more you invest in the Benefits Blueprint SolutionTM, the more it saves you. We know that is hard to believe so we have decided not to charge for the first stage, The Discovery Stage.
Q – Can I hire RFG to help me draft a Benefits BlueprintTM and still use my current broker?
A – Yes.
Q – How are you paid?
A – All work is done a fee basis, paid by our customers. That is where our loyalty lies.
Q – Can RFG also do the brokerage/marketing bidding for my company?
A – If you want, yes. It’s up to you. We are benefit strategists who examine not only plan design and costs, but also systems, compliance, administration and communication. We measure our success by the money we save you. We deal with benefits providers (insurance and investment companies) every day. Through United Benefit Advisors, the fourth largest employee benefits consulting and brokerage organization in the U.S., we have the clout to negotiate the very best deals for your business.
Q – If we elect to have RFG do brokerage/bidding services for us, will we save any money?
A – Yes. We will credit a portion of the fee you paid to develop the Benefits BlueprintTM. We can do that because we will already be very familiar with your vision, goals, objectives, benefits programs and systems. We do not believe in “double charging”.
Q – My broker says he can do the same things you do. So what's the big deal?
A – If we were traditional brokers, we would say the same thing. But that is like a builder claiming to do the same thing an architect does. Would you build your dream home without first hiring an architect to draft a detailed set of blueprints?
Q – My local broker says he “knows” the markets and can shop them effectively. Can you?
A – Yes. We not only have access to your local markets, but to markets nationwide through our affiliation with United Benefit Advisors.
Q – What is United Benefit Advisors?
A – United Benefit Advisors is an alliance of the premier independent benefit advisory firms in the U.S. and Western Europe. Members adhere to a strict code of ethics.
Q – Does that mean you also do International Benefits?
A – Yes.
Q - What about Actuarial Services and Compliance?
A - Yes.
Q - Do you do consulting regarding M&A issues?
A – Yes.
Q – How are you different from the large national consulting brokerage and consulting firms?
A – There are several major differentiators. The first one is cost; we are generally much less expensive. The second one is that we combine the advantages of working with locally owned benefits advisory firms with international marketing clout. All of the Member Firms in United Benefit Advisors are independent business advisors, and are passionate about consulting independence and excellence.
Q - So, how much does it cost?
A – There are four stages: Discovery, Planning, Implementation and Review. There is no charge for the Discovery Stage. After the Discovery Stage, if a company qualifies, then it is invited into the Benefits Blueprint SolutionTM Program. The cost of the remaining stages vary, but in all cases if you're not satisfied and/or you're not convinced you will more than save the cost of the program through better designed benefits programs and happier, more productive employees, we will gladly refund your money.
Q - What does it take for a company to be a “qualified” for the Benefits Blueprint SolutionTM?
A – The company must meet the following criteria:
- It must complete the Benefits Blueprint SolutionTM Scorecard and be interviewed by one of our consultants.
- It must complete a Discovery WorkshopTM
- It must be committed to best practices and continuous improvement that focus on:
- Developing and implementing innovative strategies to integrate all of your employee benefit programs
- Efficient and effective systems
- Being able to data-mine and find meaningful information to generate reports and carry out planning
- Reducing liability and dealing more effectively with regulatory issues
- Having systems that are automated and linked to payroll systems and appropriate third parties
- A multi-year benefits strategy and benefits philosophy
- Having a benefits program that supports the business plan
- Saving time and making more money
- Recruiting and retaining great employees
- Achieving your corporate objectives more easily
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