To continue better serving its clients, Colorado Springs’ largest locally owned commercial insurance agency is adding a new service to its lineup: benefit plans.
By working with Brent Vickery, who specializes in benefits consulting, business owners receive a benefits plan that meets their needs and is designed to allow them to attract and retain employees.
Benefits may be a company’s highest cost item after payroll and “we offer an end-to-end suite of services,” Vickery said. “From plan benchmarking to negotiations to communication and enrollment, renewal negotiations, compliance resources delivered on an electronic platform. We have the ability to serve them from end-to-end, all while surrounding them in technology.”
Through Six and Geving’s employee benefits consulting, Vickery said, business owners can receive a strategic benefits plan that includes medical, prescription, dental, vision and liability insurance, as well as flexible spending accounts (FSAs) and health savings accounts (HSAs). On the financial side, he said, services include pricing and contract negotiations. Cost is always a factor.
The company also creates enrollment guides and conducts group meetings to explain benefits plans. Online benefits enrollment is available, and Six and Geving provide employers with an online platform through which they can communicate with employees.
Vickery comes to Six and Geving with over 30 years of benefits consulting experience. Much of his time was spent in Dallas, Texas, before moving to Colorado Springs, where he opened his own agency. In November 2018, he partnered with Six and Geving so the insurance agency could begin offering benefits services to its more than 3,000 clients.
Benefits combined with compensation are a deciding factor for many employees in choosing where they work, Vickery said. All employees, but especially those who are married or have children, will evaluate an employer’s contribution rate to their insurance plans, he said.
“For an employee, having a good benefits package allows them to get more comprehensive coverage at a better cost than they would get if they were independently searching for insurance. For an employer, it allows them to be competitive in terms of benefits, and attract and retain talented employees,” Vickery said. Attracting and retaining people is critical to the success of small business.
When Vickery begins meeting with a client, he said, he assesses what the business is currently offering and what it likes and dislikes about its plans. He then offers an assessment of various plans, pricing, and the opportunity for businesses to “strategically adjust what they’re offering to help meet their overall needs.” Tailored plans to meet business and employee needs are hard to get. We specialize in it.
A benefits consultant can advise businesses of trends in the area and in their particular industry so that they can remain competitive. Consultants also use cost-control strategies to help mitigate health care costs for employers and often have ancillary vendor relationships that clients can take advantage of.
“In my career, I’ve negotiated for clients from both the carrier and client sides. I’m very familiar with how rates are set and what is fair. A lot of the financial components of self-funded plans are starting to come into the small group market as level-funded plans,” Vickery said. “When it comes to renewal and you’re negotiating, you need somebody who understands all of the components.”
To learn more about Six and Geving and its employee benefits services, call 719-590-9990 or visit six-geving.com.
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