Products & Services
Steps To Determining Plan Feasibility
- Establish client goals and objectives
- Gather pertinent facts and data
- Plan design and selection of features
- Prepare and submit recommendations
- Plan implementation and communication
- Review, assessment and service
Cost Reduction and Coverage Enhancement
First Benefits Corporation will compare your current insurance program to similar programs available in the commercial marketplace. We can often develop methods and techniques to cut costs and make changes without sacrificing quality. You will receive a report that provides knowledgeable answers to critical questions, such as:
Can we keep the same plan and reduce the cost?
If we make changes how will they affect our rates?
How does our current plan compare to the world?
Products & Services
- Employee Benefit Services
Administrative Services
- Health Savings Accounts
- Section 125 Flexible Spending Accounts and Selective “Cafeteria” Plans
- Pension and Profit Sharing Plans
- 401(k) Plans
Products & Programs
- Life & Accidental Death and Dismemberment
- Medical
- Traditional Indemnity
- Managed Care – PPOs,
- HMOs
- High Deductible Cost and Risk Shifting
- Prescription Card Programs
- Dental
- Disability-Income Replacement
- Vision
- Wellness – including routine physicals
- Long Term Care- including dependents
- Pension Plans
- Profit Sharing Plans
- 401(k) Plans
- Supplemental Term Life-Employee and Dependents
- Supplemental Universal Life-Employee and Dependents
- Short Term Medical
- Critical Illness
- Whole Life
- Global Travel Medical Insurance
Most of the above can be incorporated into a new or existing Section 125 “Cafeteria” Plan; many are also available with no employer contributions required.
Due Diligence-Research and Analysis Services
Acquisition groups and turnaround practitioners enlist First Benefits Corporation to help them better determine the current and potential future value of a business concern. We provide our clients with a summary of the direct costs of an overall insurance program. With this information, decision-makers are equipped with pertinent facts that are often overlooked or undiscovered by less capable parties involved in the purchase, sale or turnaround of a business.
Insurance Availability and Capacity
First Benefits Corporation makes every effort to identify, investigate and report all existing difficult to insure or uninsurable situations. These situations are seldom volunteered or disclosed during negotiations, yet their short and long term effects can be significant. Examples include:
- A member of the current workforce has a potentially catastrophic medical condition which may adversely affect future health insurance costs and possibly limit availability.
- A trend among insurers to reduce or limit levels of coverage for certain products or industries. This negative trend may affect the future viability of a current product line.
