MILLENIALS WILL RULE THE WORLD
REAL WORLD vs CONVENTIONAL WISDOM
Conventional wisdom, will say it doesn't matter much rather my group is structured AGE or COMPOSITE. In fact it does, if you have several younger employees and a few older on the COMPOSITE plan they all will pay more per month, studies have shown younger employees want to to pay the least for these types of expenses. By making it AGED RATED with at least a 50% employer contribution, you can boost your participation rate with happier young employees.
THE WORK FORCE IS ALWAYS SHIFTING
And your company and organization, can be positioned for the shift when it happens. Let's say that your employee population is comprised of younger workers, in a month, a year or not too distant future your work force turns completely over to older baby boomers, then what? By having the AGED RATING in place you are already prepared to offer them something affordable and tailored to them
The next section we will discuss, our proprietary tool to save hundreds and thousands on group insurance.
Optional, but highly
*Benefit brokers rarely discuss with their clients ways to structure their plans to maximize benefits, and control cost. The strategy laid out in this guide, allows the employer to take control of cost rather than relying on the broker of record to dictate what is affordable and what is not. The employer will understand how plans are designed and what to do to work within the frame of that design to curtail cost.
This means you can know with confidence that you have the final say on what your plan should look like, how offering of the plan will increase participation, without the additional cost, when structure properly