Simplifying Complex Employee Benefits Through Strategic Market Timing and Expert Guidance

The way CorpStrat can help our clients in a climate of increasing costs across the board is by making sure that we're uncovering any new products or plan designs that may not have been explored previously. There's maybe a smaller network that has access to really good doctors at a lower price point that was never brought to their attention. And we can help guide the employer on ways to reduce their costs in ways that they didn't think of before. Hi, my name is Serena Warner. I'm a partner with CorpStrat. With health benefits, especially, there's this misconception that it should pay for everything. And if we think of our other insurance products, homeowners' and auto insurance. We hope we don't have to cash in. We pay our premiums and we don't want an accident, but we do have a cost share and that's just that is what insurance is. We pay a portion, and the carrier pays a portion. When it comes to negative press around insurance, health insurance, insurance carriers, and while I do think some of that is accurate and true, someone in the industry for 35 plus years like myself, I actually see the other side of it. I see these plans paying for people with major health conditions. Claims in upwards of millions of dollars a year, with the employee or member having very little outlay. So the press shows the side where it's not working and I see a side more often where it does work. I think mistakes that employers make with their plans are probably due to a lack of understanding and knowledge. With health insurance, particularly in small groups in California, there are no negotiations; everything is really set in stone by the Affordable Care Act rates and plan designs. It's important for employers to understand their renewal was, let's say, December 1st or January 1st. You can shop your plans for April 1st or May 1st. And a lot of times, especially for larger employees, over 100 employees, that is a really good time to enter the market. The carriers are slammed in Q4 and Q1. So come April, May, June, they're slower and they have more time on their hands to implement these plans and oftentimes it goes smoother. I think a misnomer with benefits brokers is that we have some type of advantage with certain carriers or that we're withholding rate structure, rating information, and we don't. So, benefits brokers all receive the same rates from the carriers, whether it's a small group or a large group, it's a level playing field. What differentiates brokers is their knowledge of the carriers and the products and what are we doing with that compensation? How are we investing that back into the client with service and value-added services? So that's where CorpStrat really differentiates itself. We are a small but mighty team. We are local, yet national. So we have a national reach. Our staff comes into an office a few days a week, but regardless, we answer our phones, we answer our emails. Not only for your renewal and marketing strategy, but all year round to help you and your employees navigate these challenging times and benefit plans that can be so complex.