Employee Benefits: What We Do
When you want the best results, you seek out a specialist in that field, and that is why the agency's singular focus is in health and welfare; creating, implementing, and servicing well-built benefit programs. Most want to quote, but lack a clear plan. We deliver solutions, not spreadsheets.
Prospective client had been with the same payroll company/insurance brokerage for over a decade. They were faced with a 23.28% renewal from their carrier. The broker was all out of options for them. Enter Prosperity Benefits.
We created a negative renewal, saving them $70,000 on premiums versus staying with the incumbent's suggestion (taking the increase). No network or pharmacy disruption.
18 months later, they received a check for $25,000 in unused claims dollars, meaning they saved $95,000 in this one move. Their total spend was $184,300 on medical premiums, so they saved 51% by switching to Prosperity Benefits, LLC!
Employers have been trained to be put into 'react' mode by brokers for decades. Does this cycle sound familiar? I. Broker brings in renewal increase. II. Scramble to find better rates. III. Last minute solution is found. IV. Repeat every year.
Unfortunately, this is not a very proactive approach and leaves absolutely no room for program improvements, integration of technology, or harnessing costs for the long haul.
We work with you to define your risks, manage them, enhance your programs, and control costs. Our approach takes your renewal from chaos to clarity. Simple.
Ancillary and Worksite
Our benefits portal, Maxwell Health, has live integrations with most of the leading ancillary insurance carriers in our market, meaning administration, enrollment, education, and implementation is all handled through the portal. This simplifies your life without sacrificing carrier availability. What's more, Maxwell has negotiated low participation floors on many products, meaning programs that were traditionally not offered to small companies now are, like hospital indemnity, cancer, critical illness, voluntary life, and more. Your benefits suite mirrors that of a large company, and it should because you are competing for the same talent in the market. We help give your benefits program an edge.
Cloud-Based Benefits platform
Bring your own benefits administration system, or plug into ours. The agency solution offers your employees a comprehensive suite of solutions traditionally reserved for much larger companies. Your HR department will love having one place to manage all the various benefits, saving time and hassle. We make benefits programs simple.
Your employees can call a Dr. when they have a minor illness or medical issue using this products, and pay $0 as a copay! Less missed work, more efficient care, and you benefit by not having this office visit claim hitting your books. Telemedicine is the way of the future.
If a question about benefits, claims, or network arises, most employees are conditioned to contact HR or call a 1-800 carrier number. With Prosperity Benefits and Maxwell Health, the employees need only pull out their phone and ask their healthcare concierge the question instead. Your company saves time, and your employees receive expert-level advice.
We reduce your compliance burden. Your annual required notices are saved as a template, ready to be customized to your organization for dissemination each year and to new hires. COBRA is an optional integrated service, freeing up your time for other tasks. We assist you with Form 5500 preparation and filing, as applicable. Maxwell Health houses your employee enrollment and plan information, meaning exporting your data to one of our vetted ACA reporting vendors couldn't be easier. Never fill out a 1095-C PDF again!