Benefits Managers of Nation's Businesses Are Learning to Seek Outside Help and Rely More on Benefits Broker's Advice for Choosing Premium Health and Retirement Plans

Warwick, New York (PressExposure) November 14, 2007 -- He went on to explain that many HR professionals are extremely busy and often devote on average 22 hours a week administering benefits. In a small company of 20 to 200 employees, the HR person is a designated individual; sometimes the owner and they're already wearing several hats. This often leads to last minute decisions at renewal of the company's health insurance plan and a decision to "play it safe" and leave "everything stay as is." Why? Because the HR professional did not have the time nor resources to analyze alternative plans as well as voluntary benefits; not enough time or energy to do the necessary due diligence. A decision under pressure such as this can adversely impact the company's budget and bottom line because the HR professional is relying on biased or inadequate information or opinions based on one or more individual's experience.

Will higher co-pays or higher deductibles be the answer to rising health care costs? What are the industry trends over the years? What is the effect of prescription drugs and their promotions? Are HSA's the answer?

Mr. Fernandez went on to explain," In other words, health insurance costs can be minimized by relying on the coordinated efforts at analysis and investigation of alternative plans including more employee participation with a knowledgeable and connected group benefits broker."

Corporate retirement plans also suffer if the HR professional or CFO does not engage the services of a benefits broker concerning recent changes brought about by the Pension Protection Act. A recent private survey of a broker's clients' 4,000 employees showed that almost 75% did not have a clear understanding of their benefits.

Though many brokers seek out large size clients exclusively for higher commissions, there are group benefit brokers devoted to businesses as small as 2 employees. They would act as a mini HR department at no cost to the employer. Today's savvy HR professionals are using the internet more and more for their HR needs resulting in more benefit brokers being utilized for their services and helping to save to their company's bottom line. Clicking on a brokers website will start you on the path of controlling your group benefits more effectively.

About Foundation Financial Services

Alan S. Fernandez is president of Foundation Financial Services with a BBA in Finance and Economics from Iona College, studied under the Life Underwriters Training Council and Certified Financial Planner programs and with 15 years in the insurance industry is a well known problem solver among businesses and individuals alike. He is also an insurance instructor with Citicorp.
He can be contacted at or visit the FFS website at []

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Press Release Submitted On: November 13, 2007 at 9:48 am
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