By Chris Noffke, GBDS, CSFS, Vice President of Employee Benefits
Managing the costs of employee benefits while still providing robust resources for your employees can be a challenge. If your insurance agent just gives you a few quotes to compare, you might not be getting the best plans for your team.
Recently, my team and I met with a health care clinic that offers benefits for employees and has been struggling with rising premiums. Their agent had been showing them health insurance quotes, but not looking at strategies to reduce costs. We were able to find an option for them that saved almost $20,000 without reducing benefits for their employees. By using unique funding options, we were able to reduce overall premium costs without increasing costs for employees.
As the Wisconsin Medical Society’s insurance agency, WisMed Assure is a niche insurer specializing in insurance for health care professionals. Our team understands cybersecurity needs for health businesses, medical professional liability coverage and exactly how a disability insurance policy needs to be written for a physician. And we have unique contracts available only to our clients.
To illustrate the power of the niche programs we have built for WisMed clients and members, we recently worked with a small healthcare practice that received a group disability quote from another agent with a 4% reduction in renewal pricing. That may have looked good on the surface, but with the same top insurance carrier, due to WisMed Assure’s volume and relationship, we were able to offer a 5% decrease with a 3-year rate lock. The savings to this client in working with WisMed Assure was substantial.
When you work with us, you’re not alone in the insurance process. We’re hands on and help you with:
- Open enrollment materials
- Benefits booklets
- Claims and payment issues
- Help you use your money more wisely
Don’t deal with the average agent, talk to a professional dedicated to physicians. Please email me at chris.noffke@wismedassure.org or call 608.442.3734.
Note: This article is for informational purposes only and should not be considered as insurance advice related to your specific policy or situation. Please consult with a qualified insurance advisor or professional before making any policy decisions. Full disclaimer and contact information.