Get in touch
408-366-8880
mymail@mailservice.com
sPEAK WITH A BENEFITS EXPERT.
*OUR CLIENTS SAVE AN AVERAGE OF 30-40% ON THEIR EMPLOYEE BENEFITS PACKAGES. RESULTS AREN'T GUARANTEED, BUT THIS IS OUR #1 GOAL.
THE KBI DIFFERENCE
Our employee benefit service professionals solve problems that exist within your health benefits program and ensure every dollar invested creates the outcomes you need for achieving greater business success.
We improve the ROI on your program, which directly impacts your ability to improve recruiting, retention, and productivity.
To explore our employee benefit services, book a call with a KBI Benefits Expert today!
Our Services
Benefits of
working with KBI
INSURANCE OUTCOMES Delivered
Executional excellence turns promises into outcomes. Within a framework defined by your unique needs and goals, we deliver outcomes that are essential to your success.
Leveraging everything
We utilize a timely and proactive process to ensure you can take advantage of new opportunities and avoid new dangers as they arise. We call this Leveraging Everything™.
KBI's guidance & Insight
As the pace of change accelerates, asking, “What’s new?” is not enough. We’re asking, “What’s important?" and publishing our thoughts here.
As a UBA partner, KBI is part of the nation’s leading organization of independent benefit advisors.
Customer Testimonials
Latest Insights
Self-funded health plans represent a departure from traditional fully-insured plans where employers pay a fixed premium to an insurance carrier. Instead, in a self-insured model, employers pay for out-of-pocket claims as they are incurred, often setting aside funds in a trust to cover these expenses. Let’s explore the positives and negatives of this funding model and whether your company could benefit from adopting it. For more personalized assistance with improving your employee benefits ROI, speak with a KBI Benefits agent today. What Are Self-Insured Health Plans? At its core, a self-insured health plan allows an employer to tailor healthcare benefits to the specific needs of its workforce, avoiding the one-size-fits-all approach of traditional insurance policies. This customization is not just about meeting employees' health needs but also about financial management. By directly funding healthcare claims, employers can improve cash flow and save on the premium taxes and margins that insurance carriers typically charge. Furthermore, self-insured plans offer employers the opportunity to retain control over the plan's reserves, potentially earning interest income that would otherwise benefit the insurance carrier. They also allow for greater flexibility in selecting healthcare providers or networks that best match the needs of their employees, providing a potentially higher quality of care. Why Self-Insured Health Plans? The appeal of self-insured plans is underscored by the numbers. A report by the Employee Benefit Research Institute highlighted that a significant portion of the workforce is covered by employer-sponsored self-insured plans. This model is commonly chosen for its numerous advantages, including customizable health care plans, improved cash flow due to the absence of pre-paid premiums, exemption from state health insurance regulations, and savings on state premium taxes. However, the suitability of self-insurance varies by employer. While large employers may comfortably absorb the financial variability of claims, smaller employers or those with less stable cash flows may find self-insuring risky. Despite this, even some small businesses with as few as 25 employees have successfully adopted self-insured health plans, highlighting the model's flexibility. Unsure if this funding model suits your company? Speak with a KBI Benefits agent today to schedule an in-depth audit. Risk Management and Administration One of the critical concerns with self-insuring is the potential for unpredicted or catastrophic claims. To mitigate this, many employers purchase stop-loss insurance , which covers claims exceeding a certain amount. This strategy helps manage risk while still allowing employers to enjoy the benefits of self-insuring. Claims administration is another crucial aspect. Employers may choose to handle it in-house or outsource it to a third-party administrator (TPA). TPAs can offer valuable services in setting up and managing self-insured plans, including coordinating stop-loss insurance and provider networks. Compliance and Employee Contributions Self-insured plans are subject to a range of federal laws, including ERISA, HIPAA, and COBRA. These regulations ensure that plans provide fair and consistent benefits and protect employees' rights. Employee contributions towards their coverage continue to be processed through payroll deductions, maintaining a familiar structure for funding their benefits. The Conclusion: Finding the Right Balance While self-insured health plans offer numerous advantages, they are not suitable for every business. The decision to self-insure should be based on a comprehensive analysis of an employer's financial stability, risk tolerance, and the specific healthcare needs of its workforce. For those considering this path, working with a knowledgeable partner can make all the difference. This is where KBI Benefits comes in. Specializing in developing creative financing models, KBI Benefits can enhance your employee benefits ROI by as much as 40%. By partnering with KBI Benefits, employers can discover the optimal funding structure for their benefits plan, tailored to their unique needs and circumstances. Whether you're looking to transition to a self-insured model or optimize an existing plan, speaking with a KBI Benefits agent today could be the first step towards a more efficient and effective benefits strategy.
Self-funded health plans represent a departure from traditional fully-insured plans where employers pay a fixed premium to an insurance carrier. Instead, in a self-insured model, employers pay for out-of-pocket claims as they are incurred, often setting aside funds in a trust to cover these expenses. Let’s explore the positives and negatives of this funding model and whether your company could benefit from adopting it. For more personalized assistance with improving your employee benefits ROI, speak with a KBI Benefits agent today. What Are Self-Insured Health Plans? At its core, a self-insured health plan allows an employer to tailor healthcare benefits to the specific needs of its workforce, avoiding the one-size-fits-all approach of traditional insurance policies. This customization is not just about meeting employees' health needs but also about financial management. By directly funding healthcare claims, employers can improve cash flow and save on the premium taxes and margins that insurance carriers typically charge. Furthermore, self-insured plans offer employers the opportunity to retain control over the plan's reserves, potentially earning interest income that would otherwise benefit the insurance carrier. They also allow for greater flexibility in selecting healthcare providers or networks that best match the needs of their employees, providing a potentially higher quality of care. Why Self-Insured Health Plans? The appeal of self-insured plans is underscored by the numbers. A report by the Employee Benefit Research Institute highlighted that a significant portion of the workforce is covered by employer-sponsored self-insured plans. This model is commonly chosen for its numerous advantages, including customizable health care plans, improved cash flow due to the absence of pre-paid premiums, exemption from state health insurance regulations, and savings on state premium taxes. However, the suitability of self-insurance varies by employer. While large employers may comfortably absorb the financial variability of claims, smaller employers or those with less stable cash flows may find self-insuring risky. Despite this, even some small businesses with as few as 25 employees have successfully adopted self-insured health plans, highlighting the model's flexibility. Unsure if this funding model suits your company? Speak with a KBI Benefits agent today to schedule an in-depth audit. Risk Management and Administration One of the critical concerns with self-insuring is the potential for unpredicted or catastrophic claims. To mitigate this, many employers purchase stop-loss insurance , which covers claims exceeding a certain amount. This strategy helps manage risk while still allowing employers to enjoy the benefits of self-insuring. Claims administration is another crucial aspect. Employers may choose to handle it in-house or outsource it to a third-party administrator (TPA). TPAs can offer valuable services in setting up and managing self-insured plans, including coordinating stop-loss insurance and provider networks. Compliance and Employee Contributions Self-insured plans are subject to a range of federal laws, including ERISA, HIPAA, and COBRA. These regulations ensure that plans provide fair and consistent benefits and protect employees' rights. Employee contributions towards their coverage continue to be processed through payroll deductions, maintaining a familiar structure for funding their benefits. The Conclusion: Finding the Right Balance While self-insured health plans offer numerous advantages, they are not suitable for every business. The decision to self-insure should be based on a comprehensive analysis of an employer's financial stability, risk tolerance, and the specific healthcare needs of its workforce. For those considering this path, working with a knowledgeable partner can make all the difference. This is where KBI Benefits comes in. Specializing in developing creative financing models, KBI Benefits can enhance your employee benefits ROI by as much as 40%. By partnering with KBI Benefits, employers can discover the optimal funding structure for their benefits plan, tailored to their unique needs and circumstances. Whether you're looking to transition to a self-insured model or optimize an existing plan, speaking with a KBI Benefits agent today could be the first step towards a more efficient and effective benefits strategy.
Employee benefit plan administration is not just an essential HR task, but an essential step in hiring and retaining high quality employees for the best possible ROI. Small business owners understand better than most that a highly optimized value proposition for hiring new employees makes the difference between profitability and unprofitability. This is where the expertise of benefit consulting becomes invaluable, guiding you through the complexities of benefit plan administration and ensuring your business is positioned as an employer of choice. For personalized assistance with an expert, speak with a KBI agent today . Understanding Employee Benefits Administration At its core, employee benefits administration is about crafting and managing the suite of benefits your company offers to its employees. This critical HR function spans evaluating and communicating employee benefits, facilitating benefits enrollment services, and ensuring compliance with relevant legislation, such as ERISA regulations. When done right, your employee benefits administration system fosters employee advocacy, underlining your company’s commitment to your team’s well-being and professional growth. Choosing the Right Benefits Administration System Today's market offers a range of HR benefits platforms, from full-service benefits administration software to specialized online HR portals that streamline enrollment and management of benefits. These systems are pivotal in communicating employee benefits effectively, ensuring every team member understands and appreciates the full value of what's available to them. For small businesses, the assistance of employee benefit brokers like KBI Benefits can be a game-changer. KBI Benefits offers employee benefits consulting services that can tailor a benefits package to your unique business needs, ensuring you’re competitive yet compliant with all HR compliance requirements. The Pillars of Effective Benefits Administration Strategic Decision-Making: The journey begins with deciding which benefits to offer. This involves a deep dive into employee education about the types of benefits that matter most to your team, from health insurance to wellness programs that support their overall well-being. You can learn more about popular employee benefits offerings in this blog . Ensuring Compliance: Navigating the legal landscape, including ERISA compliance, is a task where an ERISA attorney may be invaluable. Their expertise ensures your benefits plan not only meets legal standards but also supports your business goals without unintended liabilities. KBI Benefits stays the forefront of compliance laws so you can focus on running your business. To speak with an ERISA compliance professional, reach out to KBI Benefits today. Employee Engagement: Communicating employee benefits effectively is crucial . An online HR portal can be an excellent tool for this, providing a one-stop-shop for employees to explore their benefits, enroll in new programs, and seek employee claim assistance when needed. Continuous Improvement: Regular HR reporting and feedback from your team will highlight areas for enhancement, whether it's adding new benefits, adjusting existing ones, or improving the way benefits are communicated. How to Get Started with Your Benefit Plan Administration Navigating the intricacies of employee benefit services can be daunting, especially for small businesses without large HR departments. This is where KBI Benefits shines. Our approach to employee benefits consulting services focuses on optimizing your benefits expenditure while maintaining or enhancing the quality of your offerings. By utilizing proprietary funding models and detailed cost reporting, KBI Benefits is uniquely positioned to reduce your benefits costs by as much as 40%. Speak with a KBI Benefits agent today to start strategizing.
Home | Contact Form
Reach OUT
We believe the relationship between employer and employee has tremendous untapped potential. We are here to help our clients unleash that potential.
We would love to help, contact a team member today!
Services
We believe in 100% employee satisfaction
Latest Thinking
Self-funded health plans represent a departure from traditional fully-insured plans where employers pay a fixed premium to an insurance carrier. Instead, in a self-insured model, employers pay for out-of-pocket claims as they are incurred, often setting aside funds in a trust to cover these expenses. Let’s explore the positives and negatives of this funding model and whether your company could benefit from adopting it. For more personalized assistance with improving your employee benefits ROI, speak with a KBI Benefits agent today. What Are Self-Insured Health Plans? At its core, a self-insured health plan allows an employer to tailor healthcare benefits to the specific needs of its workforce, avoiding the one-size-fits-all approach of traditional insurance policies. This customization is not just about meeting employees' health needs but also about financial management. By directly funding healthcare claims, employers can improve cash flow and save on the premium taxes and margins that insurance carriers typically charge. Furthermore, self-insured plans offer employers the opportunity to retain control over the plan's reserves, potentially earning interest income that would otherwise benefit the insurance carrier. They also allow for greater flexibility in selecting healthcare providers or networks that best match the needs of their employees, providing a potentially higher quality of care. Why Self-Insured Health Plans? The appeal of self-insured plans is underscored by the numbers. A report by the Employee Benefit Research Institute highlighted that a significant portion of the workforce is covered by employer-sponsored self-insured plans. This model is commonly chosen for its numerous advantages, including customizable health care plans, improved cash flow due to the absence of pre-paid premiums, exemption from state health insurance regulations, and savings on state premium taxes. However, the suitability of self-insurance varies by employer. While large employers may comfortably absorb the financial variability of claims, smaller employers or those with less stable cash flows may find self-insuring risky. Despite this, even some small businesses with as few as 25 employees have successfully adopted self-insured health plans, highlighting the model's flexibility. Unsure if this funding model suits your company? Speak with a KBI Benefits agent today to schedule an in-depth audit. Risk Management and Administration One of the critical concerns with self-insuring is the potential for unpredicted or catastrophic claims. To mitigate this, many employers purchase stop-loss insurance , which covers claims exceeding a certain amount. This strategy helps manage risk while still allowing employers to enjoy the benefits of self-insuring. Claims administration is another crucial aspect. Employers may choose to handle it in-house or outsource it to a third-party administrator (TPA). TPAs can offer valuable services in setting up and managing self-insured plans, including coordinating stop-loss insurance and provider networks. Compliance and Employee Contributions Self-insured plans are subject to a range of federal laws, including ERISA, HIPAA, and COBRA. These regulations ensure that plans provide fair and consistent benefits and protect employees' rights. Employee contributions towards their coverage continue to be processed through payroll deductions, maintaining a familiar structure for funding their benefits. The Conclusion: Finding the Right Balance While self-insured health plans offer numerous advantages, they are not suitable for every business. The decision to self-insure should be based on a comprehensive analysis of an employer's financial stability, risk tolerance, and the specific healthcare needs of its workforce. For those considering this path, working with a knowledgeable partner can make all the difference. This is where KBI Benefits comes in. Specializing in developing creative financing models, KBI Benefits can enhance your employee benefits ROI by as much as 40%. By partnering with KBI Benefits, employers can discover the optimal funding structure for their benefits plan, tailored to their unique needs and circumstances. Whether you're looking to transition to a self-insured model or optimize an existing plan, speaking with a KBI Benefits agent today could be the first step towards a more efficient and effective benefits strategy.