Knowing what you pay for is crucial in determining the effectiveness of your current benefits plan.
Understanding how much you pay is vital for ensuring the affordability of your current benefits plan.
Comprehending how often you pay is essential for managing cash flow and budgeting in your benefits plan.
To achieve their goals, business owners and HR leaders face overwhelming complexity. It is the role of the next-generation benefits advisor to bring together a solution, tailored to each client, across all of the following areas:
Every organization has a culture. The individual traits of business owners and HR decision-makers within the organization make up the characteristics of the benefits culture at any point in time. Our role as your Quantum Advisor is to understand what matters most. To do this, we seek to understand your view on benefits by understanding your desired culture.
Fully-funded insurance is the type of coverage most businesses are accustomed to. An agent assesses the group’s risk and then charges a premium to provide coverage. Self-funded is when the business sets aside funds to directly pay for employees’ medical costs. Both options allow employee contribution through payroll deductions, but with self-funded you are only paying for actual claims not premiums.
Self-funding lets you tailor your plans, choosing specific coverages, exclusions, and customized partnerships, offering greater control over benefits and costs.
In self-funding, funds stay with your business until needed, allowing you to earn interest and manage cash flow effectively, rather than being tied up with an insurance carrier.
Self-funded plans are governed by federal law, avoiding state regulations and premium taxes, reducing costs and compliance complexity for your business.
As the price of health care continues to increase, many employers who previously had been too risk-averse are second-guessing their decision, and self-funding. We are not asking you to add an initiative onto your team’s plate because Quantas Advisors has combined the most forward thinking advisors in the country with the most thorough process of vetting the vendors we do business with – you’ll feel the difference on the first call. We’re unconventional benefit brokers. We will show you game-changing solutions. As competitive entrepreneurs leading a tech-enabled service firm, we filter every decision through our purpose: to deliver what matters through authentic connections and relentless accountability.
Here’s how we do it.
Let's develop a comprehensive strategy for your business. We’ll start by understanding your company culture, goals, and objectives to ensure alignment. We'll discuss budget requirements and identify cost drivers, including plan, risk, and profile considerations. Through benchmark analysis and employer perception insights, we'll uncover challenges and improvement opportunities, such as wellness and population management. Additionally, we'll explore other options like private exchange voluntary offerings and benefits administration, all tailored to optimize your strategy and drive success.
Ready to bring your strategy to life? We'll develop a 3-year strategic plan, managing the annual lifecycle with expert project management. Through market analysis and reviewing your claims experience, we'll tailor plan underwriting, offerings, and funding. Our team will handle carrier negotiations and contract reviews, ensuring the best terms for your business. Plus, we'll support a smooth open enrollment process. With Quantas, every step is designed to maximize value and efficiency for your organization.
Measuring results is crucial to ensure your plan's success. We'll analyze plan utilization, examining claims, network discounts, trends, and any design anomalies. Employee satisfaction is a key indicator, so we'll gather feedback and provide a comprehensive benchmark report. By monitoring participant behaviors and wellness compliance, we can identify areas for improvement. Using predictive modeling before renewals, we'll forecast future needs and refine strategies. Our goal is to continuously optimize your benefits plan, delivering maximum value and satisfaction for your business and employees.
Clear communication and education are key to how employees value their benefits. When employees are well-informed about their plans, they recognize the full value and appreciate the benefits more. Without effective communication, that perceived value drops. By prioritizing education, employers can significantly enhance employee engagement and satisfaction with their benefits.
even if that just means getting the best rates.
for success next year and beyond.
Opportunity summaries review key information and factors that drive success of high-performance plans:
Goals & other organizational priorities.
Plan agreements, contracts & documents.
Summary plan performance reports.
Member engagement & communications.
Plan design & other member incentives.
