What happens at renewal time when a rate increase drops in your lap?
Do you just hand over the extra money for the exact same coverage, knowing you didn’t have enough claims to justify the increase? Do you shop around for a new broker? Do you start negotiating new terms? What can you do to protect yourself, your company, and your...
The #1 question you need to ask when going into the benefits renewal season.
What would your employees do if they had better coverage, better facility access and the doctors they already are using without surrendering any of the benefits or coverage they have come to expect? Just imagine being able to save hundreds, possibly even thousands of...
The TrendBreakers Formula : Part 1
There are four components we always consider in our efforts to stop the trend of rising costs for health benefits: People Partners Plan Products Adjust just one of these components and you could create savings for your company. But if you really want to optimize your...
Do you buy your employee benefits from a place like Walmart, Amazon, or Tiffany’s?
Recently I've been thinking about an old business adage that businesses can compete on price, service, or quality and that they have to pick two out of the three. To make this adage come alive think about buying a watch at three different places. Walmart - If I need...
How your health insurance broker gets paid
CFOs and CHROs tasked with finding and negotiating health insurance plans for their company’s employees often assume health insurance premium rates needed to increase each year. However, this is simply not the case. After learning the back end of the system and better...
TrendBreakers: How to Break the Rising Cost Trend of Healthcare
The Trendbreakers concept actually started back in the fall of 2010 and I remember it like it was yesterday. I remember as a brand new CFO feeling frustrated and overwhelmed, angry and frankly lost. I had met with our insurance broker earlier that day and he had told...
5 things CFOs don’t know that are making the cost of their employee benefits go up year after year
What would you do if you found a $500,000 efficiency in your business? That’s what happened to me a few years ago. I've been a CFO of a 500 person company for the last 10 years and I learned firsthand about the misinformation that exists in the healthcare space. I was...
It has been a wild-ride these past few weeks!
I know I usually talk about negotiating health benefits, and share ways that business owners, CFOs and CHROs can come together to understand how to provide the best benefits at the best value for their employees. But here’s the thing. Things are inherently different....
Have you ever talked to a friend before buying a car?
I know I have. And I’ve been buying cars for decades. Even though I know what I like (and generally what I’m looking for) I always feel more comfortable when I run my purchase ideas by my friend first. I like to talk it through because he is a CAR GUY. He’s not a car...
