August 28, 2023
Leadership and HR teams can take their benefits to the next level when they begin strategically planning their benefits rather than just buying insurance every renewal cycle. And in order to think strategically with benefits, companies need to review an Employee Benefits Benchmark for their organization. What is an Employee Benefits Benchmark? An Employee Benefits …
August 15, 2023
Health insurance and benefits are often an untapped source of value creation for entrepreneurs, private equity professionals, and investors. Entrepreneurs and private equity companies are in the business of creating value. This generally means they manage their companies in a way to increase revenue, decrease costs, and generally increase their value. Since a business increases …
August 1, 2023
Companies offer employee benefits to retain and recruit their workforce. Benefits reflect your values as an organization and company, and more and more employees today value what their company stands for, not just what they are paid. Poor benefits can result in higher attrition, a waste of business cash flow, and hurt the company in …
May 2, 2023
You are probably familiar with voluntary benefits – if you’ve watched a sports game or turned on the TV recently, you’ve probably seen an ad from Aflac, Allstate, and others. But you may not be familiar with how these plans are financed exactly. And if you’re a real finance and insurance nerd who is familiar …
April 11, 2023
Small to mid-size businesses must be creative to survive in a competitive market. For many of these businesses, embracing a new kind of healthcare strategy is key to controlling costs and attracting top talent. These businesses are increasingly moving toward self-funding plans to reduce their healthcare costs and gain greater control over their healthcare benefits. …
April 4, 2023
We work with employers who use a variety of funding methods for their employee benefit plans. Some groups may use fully-insured health insurance plans from carriers, and others may self-fund their employee health plans with stop-loss insurance and captive managers. We work with groups in and out of California, and it’s interesting to see state …
March 27, 2023
Healthcare Concierge Services 101 A major issue in healthcare is the misalignment of interests and how cost does not always equal quality. At the LBL Group, we believe in affordable, easily accessible, and high quality healthcare for all, but how do we do that. A great solution is going self-funded and implementing a healthcare concierge …
March 22, 2023
We sometimes hear Captive Insurance and Self-Funding used interchangeably, but they are in fact two separate employee benefits strategies. Let’s explore how are they similar and how are they different. Captives and Self-Funding are not Fully-Insured To begin, let’s be clear that both of these strategies are an alternative to a Fully-Insured Health Plan. With a …
March 14, 2023
What is the Mindset Shift? Self-Funding! In the context of medical health insurance, self-funding refers to a type of health insurance plan where the employer or organization assumes the financial risk for providing healthcare benefits to its employees or members. Instead of paying a fixed premium to an insurance company, the employer or organization funds …
February 7, 2023
Employers are facing unsustainable cost increases For many companies, healthcare costs including health insurance have become a top expense. It often goes payroll first, then healthcare benefits. It’s not uncommon for many employers today to face healthcare costs of $8,000 or more per year per employee. And healthcare costs have been steadily increasing, increasing 152 …
