EMPLOYEE BENEFITS
Employee benefits are constantly changing, and it’s difficult to keep on top of what’s new in this arena, especially if you’re involved with a small business. At Spectra Management, we understand that in order for your business to attract and keep good employees, your benefits packages must often be competitive with those offered by larger corporations. So, we are often involved in helping our clients do more than just set up insurance plans. We work with many of our clients in developing employer contribution programs that contribute to your employees’ long-term confidence and morale.
EMPLOYEE BENEFIT TIMELINE
Hopefully you have come to realize that meeting your company’s goals and expectations is not something that can be done in a few short weeks just prior to your annual renewal. While much of our time and focus is involved in the months just prior to renewal, constant monitoring and service by your Spectra Management team is what we believe makes us stand out and helps you to succeed.
Here’s how we can help you build and manage your employee benefits program:
1. Target Assessment: Spectra Management begins by assessing your budget and benefit objectives. We review and quantify past, present and future expectations and goals.
2. Evaluate the Options: After meeting with you, we obtain proposals from our vendors to see which plans best match your needs and objectives.
3. Plan Installation and Employee Communication: After helping you select the best possible option, Spectra Management implements the new plan and informs your employees about how changes may affect them. We prepare employee packets, and coordinate employee meetings to explain programs and open enrollment.
4. Enrollment and Terminations: Enrollment and termination of employee benefits are made simple through Spectra Management’s Web site. You or your HR person just need to contact us, and we’ll handle all the paperwork from there.
5. Dedicated Account Manager: Spectra Management assigns a dedicated account manager to your account. This means you’ll always deal with an employee benefits expert who is also familiar with you and your employees.
6. Plan Service: Spectra Management is always available to support your benefits staff, and our Web site provides your employees with access to their information 24 hours a day, seven days a week. Our staff assists with claims analysis, carrier follow-up, delivery of required documents, day-to-day changes and additions, and any claims disputes.
7. Renewal Negotiation: Spectra Management constantly works with a wide variety of insurance and benefits providers. This means our staff is familiar with pricing and products across the board. As such, we maintain a strong negotiating position to continually secure the most favorable contract and rate renewal agreements possible.
8. COBRA Administration: Spectra Management provides COBRA and HIPPA administration at no cost to our valued clients. We make new hires and terminations simple for our clients. Employers just need to notify us at www.askspectra.com, and we take care of the rest to cover you and your employees.
9. FSA 125c, HRA, HSA Plans: Spectra Management offers the administration (including enrollment and the disbursement of funds) of these flexible spending accounts at no cost to our eligible clients.
