article thumbnail

3 Critical Keys to Negotiating Benefit Renewals

Corporate Synergies

Knowing how to approach the annual renewal with health insurance carrier, pharmacy benefits manager (PBM) and other players can help the savvy employer save some money while maintaining the same level of benefits as before. A good carrier relationship can help you come to an agreement when negotiating benefit renewals.

article thumbnail

Pharmacy Benefit Costs Untenable? Choosing the Right PBM

Corporate Synergies

Healthcare plan participants typically use pharmacy benefits more than any other part of the health & welfare program. There are typically three ways employers work with PBMs: A PBM bundled with the insurance carrier. A “third party carve-out,” in other words, a PBM that is separate from the insurance carrier.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Broker Compensation Disclosure Rule: New Legislation for Brokers

Total Employee Benefits

Beginning December 27, 2021, as part of the Consolidated Appropriations Act, covered service providers – insurance providers, benefits brokers, agents, and consultants – are required to disclose any compensation they expect to receive over $1,000. What does that mean for you as an employer?

article thumbnail

ASO vs. PEO: What’s the difference?

Genesis HR Solutions

Health and welfare benefits and COBRA. Because PEOs like Genesis live in the insurance world day-in and day-out, whereas most businesses look at insurance only once a year when it comes time to select plans. PEOs like Genesis do these comparisons all the time and are fluent in the insurance language.