Group Health Benefits

Understanding and untangling benefits can be frustrating for businesses but that’s where Campbell Petrie can help.

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We’ll help you navigate the complex requirements of an ever-changing regulatory environment, so you’ll always be in compliance with current laws. We’ll guide you to the optimal program for your needs and serve as an indispensable resource for your questions, from the minute details of your plan to daily concerns like claims filing. Many employers have seen a 20-30% increase in their insurance costs over the past few years, but that doesn’t mean you have to resign yourself to high costs. There are creative ways to take advantage of medical products that can maximize benefits and minimize costs to you.
We’ve outlined a few examples here. Click on each to learn more, then contact us and set up a consultation so we can show you how easy it can be to build and manage a benefits package for your employees.

Self Funding

Self Funding is a completely taking control of all the moving parts of your health plan, allowing you to take advantage of your good claims experience years and put protections in place to protect you in bad experience years, this model allows employers to have the most flexibility in controlling their health plan design as well as controlling cost.

Captives

A captive is an insurance policy that is contained within an insurance company allowing you to become a part owner. By joining our health care captives you achieve the same risk protections that you do by being fully insured and spreading your risk among a larger group of businesses. This offers the flexibility, customization and all the protections of a self-funded health plan.

PEO

One of the fastest growing solutions is a PEO (Professional Employer Organization) relationship which enables the client to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation. This relationship allows the client to take advantage of significant discounts on medical and workers compensation insurances through economies of scale while mitigating risk through the co-employment model.

Here at Campbell Petrie we can find the best PEO for your group. We work for you not the PEO. With over 700 PEO’s in the marketplace finding the right one can be overwhelming. With over 20 years combined experience and top level partnerships with all the major PEO’s we have the insider track and knowledge to find the most
cost effective, PEO solution for you.

Small Group

In NJ, employers with 2-50 employees qualify for small group plans.  In NY, employers with less than 100 employees are eligible for these plans. Campbell Petrie has a department within our organization that handles your small group business policy from the traditional state regulated programs to other unique small group products like state based MEWA or non-traditional self-funded group programs. Campbell Petrie works with you to determine the best fit for your small business.

Consumer Driven Health Plans

Consumer Driven Health Plans are popular with both large and small businesses. Approximately 20% of companies are now offering a consumer driven health plan. There are many variations including qualified Health Savings Accounts (HSA), as well as health reimbursement arrangements where employers reduce their overall premium cost by increasing their deductibles and out-of-pockets.

The focus of a consumer driven health plan is for employers and employees to pay less money to the insurance company by better allocating for their needs.

These plans empower both the employer and employees to use their healthcare dollars more consciously.

Prescription Benefit Carve-Out

Pharmaceuticals are the most expensive benefit to offer. Inflation of name brand drugs is higher than medical services.  Separating prescription benefits from overall medical plans enables employers overall cost savings, prescription discounts,and access to manufacturer rebates. Companies that offer a stand alone prescription benefit plan save 20-30%.

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