Benefits Analysis & Strategic Planning
Bongiovanni Insurance & Financial has valuable experience providing analysis, recommendations, and strategic plans to a wide range of organizations and corporations. It is with this knowledge and commitment we are able to guide you on how to reach your goals and improve your benefits package, all while keeping costs to a minimum.
Several factors and strategies can have significant impact on the success of a benefits package:
- Demographics: Doing a thorough analysis of the make-up of the employees at a company is extremely important. Knowing the demographics (age, sex, location, single vs. family, union vs. non-union, etc.) will allow us to tailor a plan that meets the specific needs of the employees and ultimately create an environment to be successful.
- Claims and Utilization: The single biggest factor and driver of cost for a benefits package is claims and utilization. In order to make sound decisions to mitigate high loss ratios we must collect claims data to identify trends. Once we establish successful areas and areas where opportunity exists to improve we can tailor a plan specifically to meet those needs. Plan choices, contribution methods, and health and wellness strategies can all be determined after we complete a thorough analysis of claims.
- Multi-year Strategic Planning: Too often benefits decision are based on this year's bottom line. We believe a plan should always consist of at least 3 years of implications in mind. Knowing the goals of the program long-term can assist in making sound decisions with regards to plan choices, carrier choices, and contribution methods.