Top 5 Questions

Top Five Questions Employers Should Ask their TPA or Benefits Advisor

These are the top five questions that every employer should ask their benefits advisor. These questions are based upon years of experience with businesses across a range of industries.

1. What's the best way to control health care costs?

Surprisingly, there are still ways to achieve cost-containment and even savings on health care expenditures. It takes careful plan design, carrier negotiations, and employee education, but it can be done. Capitol strategies show a consistent savings on direct and indirect expenses over other methods of delivery.

2. With health care reform in full implementation, should an employer play or just pay?

On the surface it may seem easier to just wash an employer’s hands of health benefits altogether.  However, your benefits advisor should help you fully assess all the tax, reporting, recruitment, retention, financial and any other ramifications of this choice.

3. What does an employer need to know about private and public exchanges?

With public exchanges largely undeveloped and private exchanges just emerging, not to mention complex rules around coverage through these vehicles, your advisor can help best determine who in the employee population can be best served through these very different types of exchanges.

4. With most of the benefits budget spent on health care, which ancillary benefits will give employees the biggest bang for my buck?

Whether considering wellness programs, dental, short-term disability, long term disability, auto, home, and/or life insurance options, decisions should be based upon solid data around factors such as return-on-investment, individual vs. group, and what other employers are offering in your region, size-range and industry.

5. How does an employer stay on top of all the changes and obligations under PPACA?

Your benefits advisor provides a simple checklist of obligations each year under the law. In addition, they should stay on top of the coverage requirements, grandfathering rules, and supply the latest tools for educating employees about plans. Your advisor should also stay informed as new rules and clarifications are issued for review and implementation to prepare, lobby and act accordingly.