Employee Benefits - a Cost-Efficient Method of Improving Employee Retention

Chris Freitas • Nov 27, 2023

Running a successful company in today's ever-evolving business landscape poses numerous challenges, and by far one of the biggest headaches is keeping up with the constant changes in regulations and best practices regarding employee benefits. The worst part is that these changes can significantly impact your bottom line unless they’re addressed in a timely manner, and that’s just one more thing on your plate.

This is where employee benefits consultants play a crucial role in ensuring your employee benefit services are fully optimized for your business. Let's explore the reasons why partnering with an employee benefits consultant, or an employee benefit corporation, can be a game-changer for companies of all sizes.

Problem solving

When faced with challenges, employee benefits consultants, with their expertise in employee benefit services, step up as creative problem solvers. Armed with knowledge about industry-leading trends, we help companies stay ahead of the curve.

As health benefit requirements continue to escalate, consultants assist in implementing innovative programs, alternative funding methodologies, and other cost-control strategies to mitigate healthcare cost increases and ultimately increase your bottom line.

True consultants act as partners, suggesting changes for the betterment of your company's employee engagement and productivity on an ongoing basis. KBI Benefits’ wealth of experience equips you to navigate various industry challenges, regardless of complexity. Having encountered similar situations in the past, we can provide a range of creative solutions to optimize your employee benefit package and save you up to 40% off your employee benefits expenditures in the process.

Addressing compliance and employee productivity

With great information comes better decisions, and employee benefits consultants are experts in their field, ensuring your compliance with laws related to employee benefit services. We possess an in-depth understanding of laws and their specific implications for your company, cutting through regulatory complexities to provide essential information for avoiding unnecessary red tape. Consultants ensure your company remains on the right side of the law, contributing to employee engagement and productivity.

A study by the Ponemon Institute and Tripwire, Inc. highlighted the stark contrast between the cost of compliance and non-compliance, emphasizing the importance of employee benefit services. The average cost of compliance for organizations in the study was $3.5 million, while the cost of non-compliance-related problems was nearly $9.4 million. Staying compliant not only safeguards your company from potential penalties but also ensures uninterrupted operations, positively impacting employee productivity.

Tailoring Your Employee Benefit Package

Employee benefits consultants cultivate relationships not only with client companies but also with vendors and carriers to enhance your employee benefit package. These relationships allow us to customize programs to best suit your business’s needs, contributing to your employee engagement and productivity while staying within your budget. Consultants provide a roadmap for the future while keeping budget constraints in mind, a crucial aspect of employee benefit services.

Moreover, consultants have access to market statistics and benchmarking data that may elude companies without the right connections. This privileged access ensures that clients are well-informed about the latest trends and pertinent information, providing a distinct advantage in the competitive business landscape and ultimately contributing to increased employee productivity.

KBI Benefits: Your Trusted Partner for Employee Benefits Success

KBI Benefits stands out for its dedication to helping businesses of all sizes maximize their return on investment in employee benefits programs. We’ve historically saved up to 40% on clients’ employee benefits expenditures without compromising the quality of benefits offered, showcasing the effectiveness of employee benefit services.

Take the first step toward optimizing your employee benefits program—contact a KBI Benefits agent today to review your employee benefits offerings.

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How to Receive UnitedAg Medical Insurance

by Chris Freitas • 06 May, 2024

As the agricultural sector evolves and expands, the need for comprehensive medical plans tailored to the unique demands of this industry has become more pronounced. That’s why KBI Benefits is proud to offer UnitedAg medical plans designed specifically for agribusinesses, providing a robust solution to protect your employees and your agribusiness. Let’s discuss what agriculture medical insurance is, who it’s for, and how KBI Benefits can help you get started. What is Agriculture Medical Insurance? Agriculture medical insurance, particularly in the context of medical plans, offers coverage that protects farm owners, operators, and their employees against the financial burdens of medical expenses. This insurance is essential for mitigating the risks associated with illnesses and injuries that can be common in a physically demanding job. Health insurance for agribusinesses not only covers medical and hospital bills but often also includes wellness programs and preventive care, which are crucial in maintaining a healthy workforce. How to Receive Agriculture Insurance for Your Agribusiness The scope of agriculture medical insurance, extends to many entities in the agricultural sector, including entities that empower or influence agricultural businesses. This includes: Agriculture Production: Businesses engaged in crop and livestock production. Agricultural Services: Companies providing support services to the agriculture sector, such as soil preparation, planting, and harvesting. Forestry and Timber: Entities involved in the management and production of forest resources. Commercial Fishing and Hatcheries: Businesses focused on the breeding, raising, and harvesting of fish and other aquatic species. Agribusiness Support: Firms involved in the processing, distribution, and marketing of agricultural products, as well as those supplying equipment and inputs like seeds, chemicals, and machinery. To qualify for UnitedAg medical plans through KBI Benefits, companies must demonstrate that they derive at least 51% of their income from production agriculture or agribusiness-related activities. Most businesses within the Standard Industrial Classification (SIC) Codes for Agriculture, Forestry, and Fishing are eligible, although there are specific criteria and exceptions that may apply. Speak with a KBI Benefits agent today to learn more. How KBI Benefits Facilitates Agriculture Insurance KBI Benefits, in collaboration with UnitedAg, provides specialized medical plans tailored to the needs of the agricultural industry. Our recent appointment to offer agriculture medical plans underscores our commitment to enhancing the well-being of those who work hard to feed the nation. Here's how we help: Customized Solutions: We understand that no two agribusinesses are the same. KBI Benefits offers personalized consultations to ensure that the coverage meets the specific needs of each business, considering factors like company size, types of activities, and employee needs. Easy Accessibility: Our team of dedicated agents is just a call away, ready to guide you through the process of selecting and setting up the right plan for your business. Comprehensive Coverage: The UnitedAg medical plans offered by KBI Benefits cover a range of health services, from emergency care and hospitalization to preventive wellness programs, ensuring comprehensive coverage for your workforce. Support and Advisory: Beyond just providing insurance, we serve as a partner in ensuring the health and productivity of your employees, offering ongoing support and advice regarding your agriculture medical insurance to keep your operations running smoothly. Conclusion The health of your employees is as critical as the health of your agribusiness. In an industry as physically demanding as agriculture, having the right medical coverage is not just beneficial; it's essential. Protect your most valuable asset—your people— by speaking with a KBI Benefits agent today . We'll help you choose the agriculture medical insurance plan that best suits your agribusiness's needs, ensuring peace of mind and fostering a healthier, more productive workforce.