In today’s economy, employers need to find other ways besides salaries to make working for them attractive. One way they can achieve this is through employee benefits. This also remains true for keeping current talent within the company. As other companies are enhancing their benefits package, what are you doing to stay ahead of the game?
Employee Benefit Types
Health and Wellness Financial and Retirement
Time Off and Leave Work-Life Balance
As you determine which benefits to offer, ask yourself a few questions:
Which benefits would your employees see as an actual benefit and use?
How do these fit within the company’s budget?
Are there certain benefits that you are legally required to have?
Are there guidelines around those benefits, such as ACA, COBRA, FMLA, etc.?
How can Bavvy help Health Benefits?
Bavvy is an ICHRA platform leveraging technology with a human approach, that makes it simple for your employees to be in control of shopping for the medical plan that fits their specific needs. They can decide what’s important to them – low/high deductible, low/high premium, copays, specific doctors, or prescriptions, etc. Employees also see, in real-time, how the employer contribution offsets the premium. Also, Bavvy allows increased control over pricing, due to reliable options.
As the benefits administrator, you will continue with payroll deductions as you would in a traditional group plan, while giving employees more control over the plans they have access to and choosing what they need. Bavvy will be able to assist when it comes to carrier communication and tasks for the employee.
What Sets Bavvy Apart from Others?
We like to think our unique approach sets us apart from our competition. We offer services that others may not.
Consultants complete an analysis to be sure you stay compliant with the ACA guidelines and avoid IRS penalties.
Consulting + SaaS adds layers of ongoing customer service.
Our technology platform appreciates monthly with ongoing enhancements.
We have a Banking Structure of our own for employers and their employees.
Education Materials are provided for all involved.
A team of Enrollment Specialists will assist your employees.
All your plan information is in the system.
How to Recruit Employees with an ICHRA
You have the power to shop for what applies to you and your family. You can consider cost out of pocket, coverage, deductibles from many plans and providers, rather than choosing from pre-selected options.
Do you have more specific needs? Bavvy can assist with licensed enrollment specialists if you need additional help.
Our account managers can help you be more prepared for a candidate you are interviewing and help you answer general insurance questions they might have.
Tell them what the company will be providing as a contribution.
If the employee already has an individual plan, they can keep it and apply your employer contribution toward their current individual plan, if no government subsidy is being used and ACA compliant.
If the employee is remote or has dependents in other states, they will be able to shop for individual coverage for each one’s needs, while still receiving the employee + family contribution.
How to Get Started with Bavvy?
Please reach out to your broker about Bavvy. We work with many of the world’s largest brokerages. We hope to meet you soon and help you with expanding your medical options.