What We Do
Employee Benefits
In today's Post-Affordable Care Act world, the insurance marketplace is more complex than ever. We assist you in navigating the scope of both regional and national carriers to find the best fit for your budget and employees. In the self-insured space, we have access to multiple national PPO networks to allow for maximum design flexibility. Our TPA relationships enable us to assist you in unbundling your plan costs creating a myriad of savings oppurtunities to enhance your bottom line without sacrificing quality and coverage.
Risk Management
Employee Benefits grow more complicated by the day. We use a consultative approach to to dive deep into the demographic profile of your group. We assist you in determining the proper plan design and funding structure for your benefits program. Our agency negotiates with vendors or your behalf for reduced costs and a more efficient robust program than the off the shelf solutions often peddled to small and mid sized employers.
Level Funding /ASO with Stop Loss
Level funding is a form of partial self-funding that enables the employer to budget for monthly expenses while enjoying the financial advantages that larger organizations have enjoyed for years. Part of the monthly payment is used to cover fixed costs and part is used to fund expected claims. Any unused claims dollars at the end of the run-out period is returned to the employer. Essentially, level funding offers level payments with the possibility of a partial refund. Level-funded plans also escape some of the ACA related taxes on employer plans!
Benefits Enrollment & Communication
Most employers think they are doing a better job communicating the company's employee benefits than their employees think they are. We engage employees where they are, i.e. on their smartphone, tablet and via email. Educational materials are suited to each employer group and provided in short, dynamic bursts of digital content supplemented by onsite seminars and workshops. After all, benefits don't stop at open enrollment, neither do we!
Cooperative Purchasing Arrangements for Associations
Many trade associations are struggling to deal with the double edged problem of how to provide more value in an ultra-competitive market while dealing with falling dues revenue as members demand more for less. We help association groups with both. Whether it be the formation of an association captive, creating an employee benefits trust for members or bringing discounted insurance programs. GLBG has both the expertise and vendor partnerships to maximize benefits for your members and create revenue for your organization.
Alternative Risk Transfer
Captives can be used to provide various types of coverage within the Employee Benefits space. One example is a “Medical” Stop Loss Benefits Captive.
A stop-loss captive works by pooling stop-loss claims at certain layers for multiple organizations into a single fund – the captive layer. Captive members are better equipped to manage payment exposure by transferring a portion of the risk to a separate entity via stop-loss insurance. From a practical standpoint, member organizations pay in a specified premium based on actual experience and losses, not the experience of the carrier's book of business.