My Benefit Advisor Comparison Report

Thank you for taking the time to review and compare our programs with your current employee benefits consulting firm. Please review the report below to see what services My Benefit Advisor can offer you as well as what you are being currently offered.


Advisory Team

Advisor

The client’s trusted advisor for long term consulting in establishing a successful employee benefits program, inclusive of appropriate coverage, cost control, contribution strategies, plan design, and ancillary products.

Account Executive

A seasoned insurance veteran brings the unique perspective of having consulted hundreds of benefits programs for employers of all sizes and has valuable working relationships with carrier representatives.

Designated Account Manager

A licensed Account Manager assists with the daily administration of the employee benefits package. Areas of assistance include, but are not limited to, claims support, general questions on policy and procedure, billing inquiries and transaction processing.

Implementation Specialist

An Implementation Specialist works with the client and account manager to ensure new clients get on board properly and are maximizing our client resources and services for the most positive customer service experience.

Technology Specialist

Our Technology Specialist provides demonstrations and in-depth training on our online enrollment and benefits administration system, client portal, and our HR Advisory solution.

On-staff Benefits Counsel

Our on-staff counsel monitors industry changes, legislative news, and health care reform requirements to prepare useful communication bulletins that help simplify these complicated issues for our clients.

Ancillary and Specialty Advisor

An ancillary expert will educate the client on how to best complete the employee benefits program through employer sponsored and/or voluntary products and then will take the lead on negotiating and securing the desired plans.

Disability and TDB Advisor

Considered the premier DBL agent in NY and NJ, our staff can access up to 18 carriers and specializes in competitive pricing, administration, and servicing of state mandated disability plans across all statutory states.

 
Benefits Consulting

Health Care Reform

As the Affordable Care Act (ACA) continues to unfold and evolve, employers are turning to My Benefit Advisor for guidance on interpreting the legislation and understanding the impact to their business.

Complete Financial Analysis

Diligent review of existing benefits program; inclusive of short and long term budgetary requirements, minimum standards, and consideration of employee satisfaction.

Carrier and Plan Alternatives

All applicable insurance carriers are considered in every product market, ensuring a thorough analysis of all options available and strategies considered.

Alternative Funding Strategies

Education and advice on alternative funding strategies: minimum premium, fully insured, health savings account, health reimbursement account, or self-funding.

Third Party Administrator Options

Review of third party administrator options, including: health savings accounts, health reimbursement arrangements, flexible spending accounts, section 125, dependant care accounts, and transit.

Multi-year Cost Containment Strategies

Best practices on how to incorporate employer sponsored and/or voluntary benefits to strengthen employee morale, loyalty, and productivity.

Employee Communication Strategy

Communication strategy of market, carrier and plan changes to include quarterly on-site reviews and various technology based tools to ensure proper administration and usage of benefits programs.

Ancillary and Voluntary Benefits

Best practices on how to incorporate employer sponsored and/or voluntary benefits to strengthen employee morale, loyalty, and productivity.

Advice on Wellness Programs

Provide guidance on selecting a vendor to implement a wellness strategy with incentives to positively impact employee health, productivity, and health care expense.

 
Enrollment Tools

On-Demand Benefits Video

In addition to traditional in-person and webinar enrollment meetings, MBA can replicate the presentation in an on-demand video format complete with web links and supporting documents. This is useful for employees who are unable to attend, are hired at a later date, or want to review the information. Employers have the option of recording an introductory message, which is done easily via telephone.

Benefits Guidebook

MBA can assist employers with developing a benefits guidebook for distribution to their employees. The number of employees determines eligibility and guidebook format. Our guidebooks help improve the communication of the benefits program and plan details to employees.

Employee Hotline

MBA can provide wallet-sized cards to distribute to employees highlighting an 800 number for answers about their benefits package. The line is activated 30 days before and remains on 30 days after their renewal date. This resource helps to ease the burden on the HR Administrator regarding general employee questions about the benefit plans.

Online Enrollment System

MBA's enrollment system is available for employers to improve and streamline benefits communication complete with plan summary documents, side-by-side comparisons, plan rates, and carrier resources. Employees will be delighted with a faster, more convenient, and paperless enrollment experience. HR Administrators benefit from the ability to track the completion of employees’ enrollment and an easy tool to generate HR and payroll deduction reports in Excel.

 
Benefits Management

HR Administration System

Our HR & benefits administration system is provided to clients as part of our communication and enrollment system. Post open enrollment, employers can leverage this HR database to easily access and report on HR data, accurately report payroll deductions, reconcile carrier bills faster, manage dependents and emergency contacts, and give employees access to submit life event changes and new hire enrollments.

HR Advisory Resource

ThinkHR Comply provides employers with a trusted information database, continually updated to feature the latest resources regarding HR policies, laws, and best practices.

12 Month Service Calendar

Account Managers have a structured 12 month service calendar with automatic reminders to help ensure we are proactively managing and communicating the renewal process to our clients.

Transaction Processing

Within our team is a dedicated resource to handle all transactions to carriers on the client’s behalf. This includes new hire enrollments, terminations, life-event changes, and COBRA coordination.

Proactive Communication

We keep our clients informed through multiple methods including proactive conversations, periodic on-site visits, our client portal, a monthly newsletter, email notifications, webinars, and on-demand videos.

Claims & Health Care Advocacy

MBA is available to assist with claim resolution and related issues. If the issue is clinical in nature, such as a medical procedure approval, we will connect the employee with a registered nurse for assistance.

Client Portal

Through our secure website, HR Administrators can retrieve benefit plan information, access compliance bulletins and forms, and interact with other HR Administrators through the Community Message Board.

 
Compliance Assistance

Timely Guidance on Important Topics

As new compliance and reform topics come forward, our on-staff counsel will prepare bulletins to provide guidance on these complicated benefit and legislative issues.

Compliance Education Center

Our Compliance Education Center takes the communication of compliance materials to the next level. Our on-staff Benefits Counsel actively monitors the progress of health care reform and legislative news to provide insightful bulletins to help simplify complex issues. This unique resource acts as a hub for all compliance information and bulletins as well as including brief videos that summarize each topic. The Compliance Education Center is automatically updated with the health care industry’s latest news, alerts, and important information.

Self-Help Compliance Tools

MBA has developed several self-help compliance tools featuring yes/no questions and informational guidance for our clients. Answering "no" to a question indicates the client may be out of compliance and should seek legal advice. The topics include COBRA, ERISA, FMLA, HIPAA, and USERRA.

COBRA Administration

MBA offers complementary COBRA service which provides a number of services that are designed to relieve the burden that COBRA currently places on employers*.

5500 Document Preparation

As part of our standard service component, we can arrange for employers’ 5500 documents to be prepared, utilizing state-of-the-art software to help ensure compliance with all filing requirements. For New York Employers, a small fee must be applied per the New York Department of Financial Services.

 
Employee Programs

Wellness

MBA offers employers the choice of providing their employees with access to an MBA sponsored Wellness Benefit to boost employee morale and company goodwill, or implementation of a comprehensive incentive based Wellness Program to help manage health premiums.

Online Training Courses

ThinkHR Comply offers over 300 cloud-based, employee training courses on a wide variety of topics, allowing you to lower your company’s risk and protect your employees. The system provides easy administration, in-depth tracking reports, and completion notifications.