A study with USA Today found that Employee Benefits are rising MUCH faster than employee’s pay. Wages have been rising about 1% a year on average for most employees, many have actually been reduced. Employees are receiving more Health Insurance and Employee Benefits, and at a much more increased rate than wages. The problem is that the Employee Benefit and Health Insurance costs are skyrocketing, with most employers expecting their employees to pick up the bulk of the tab.
Employee Benefits in San Jose, and Health Insurance in San Jose and all over California have DOUBLED in the past 7 years. That’s pretty gross!! I have many employer groups in the Manufacturing business, with pretty attractive Employee Benefits. If we did not have an actual strategy for them…they probably would have dropped coverage altogether. You just can’t sustain those kinds of increases, year after year.
We have developed a very progressive Employee Benefit strategy that not only saves companies tons of money and INCREASES benefits, it actually changes the way people think about their Employee Benefits and Health Insurance. The change involves traditional thinking about Health Insurance as a line item “expense” and moves more into a discussion about the Employee Benefit “investment”. When you start thinking about something as an INVESTMENT, you begin to realize that you probably need a “financial plan” or a strategy, much like you would any other investment.
At Brauer Insurance we help companies determine what kind of strategy they feel comfortable with. There are many factors to consider when you’re developing your companies Employee Benefit strategy. I will tell you that EVERY SINGLE PERSON that I’ve strategized with, tells me “I’ve never even considered doing it this way”, or “Why didn’t our previous broker show us this?”. My response….“I don’t know, you’ll have to ask them!”
Employee Benefits are the second largest cost for a company, right underneath wages. Why NOT have a way to slow and sometimes reverse those out of control costs? It takes about 30 minutes to show you what many other companies have been wildly successful with. )
Steve Brauer-President, Brauer Insurance Services LLC….(408) 421-5555