A little over a month ago, we were contacted by the publisher of In Business magazine, asking us to be profiled in their December 2019 Leadership in Business issue.
This edition of the magazine features four corporate business leaders, asking each to comment on issues and challenges addressed in the past year and our most impactful decision during the past year.
We focused on the healthcare dilemma for employers as one of the most significant challenges facing employers, and we discussed joining Alera Group in August as the greatest milestone for Benefit Commerce Group in 2019.
In the article, we explain how we help employers solve their healthcare dilemma and how Alera Group will be an important factor in our continuing transformation and growth.
How We Help Employers Solve Their Healthcare Dilemma
Securing cost-effective health insurance for employees is one of the hottest topics facing employers in Arizona and across the nation.
- For most employers, the cost of health benefits continues to rise at twice the rate of wage increases and three times general inflation.
- On average, 10 years of family income growth has largely been lost by increases in healthcare costs.
In recession years, the focus was on reducing benefits and saving on premiums. Now, in our current full employment economy, the conversation has shifted to the critical need to attract and retain employees. However, employers still need to control costs.
Here are a few of the ways Benefit Commerce Group, as an employee benefits consulting firm, is solving this challenge for our clients:
- Properly designed benefit plans, some of which include account-based plans (HSA or HRA)
- Alignment of incentives/disincentives
- High Performance provider networks
- Management of prescription drug costs
- Cost transparency tools
- Education & communication for employers and employees
- Providing a best-in-class member service & support platform
- Wellness programs that focus on measurable health improvement
- Data analytics that can identify employees’ gaps in care, predict future claims levels and focus programs on what the employer’s actual workforce needs
2019: A Year of Transformation & Growth for Benefit Commerce Group
For any well-run company, formal perpetuation planning is critical. During 2018, BCG began this process with clear objectives: we did not want someone else dictating how we were going to do business, we wanted to reward our team for their achievements, and we wanted collaboration with a larger organization to continue to bring greater value to our clients.
On August 1, 2019, we joined Alera Group, a national company that is now 80+ firms and 2,000+ employees strong and growing. Alera Group is built on the concept of collaboration, which has been part of the DNA of BCG from our beginnings. This is a perpetuation solution that will yield even greater growth for our firm, greater opportunities for our staff and enhanced resources for our clients.
How to access the full article:
—LINK to the magazine cover and our 2-page profile.
–It is on pages 32-33 of the digital print version: https://issuu.com/mediapublishersgroup/docs/inbusiness-december_final
–For the online electronic version: See the December 2019 Issue. Select the Cover Story link which takes you to an introductory section. To go to our article, scroll down and click on: “Helping Employers Solve Their Healthcare Dilemma” from Scott M. Wood, Managing Partner and Principal of Benefit Commerce Group.