Strategic Benefit Consulting

 

The complexity of modern employee benefit plans force many employers to navigate a complex annual enrollment process and then apply their energies to avoiding precarious situations throughout the year-not an ideal use of your company's time or resources.

PrimeWest clients are empowered with knowledge and understanding that allows them to take control of employee benefits and use them as strategic resource to support their broader business goals. PrimeWest's tools and processes including strategic consulting services such as:

  • Annual benefits objective setting
  • Analysis of financial/non-financial performance of benefit plans
  • Insight into legislative issues and their impact on company plans
  • Introduction to new and progressive benefit concepts

PrimeWest guides the implementation of benefit objectives by using an effective benefit management process, a proprietary organizational tool called, The Benefit Book.

The Benefit Book is a living document that companies use to document historical decisions, comply with regulatory audits, respond to executive management inquiries, minimize negative effects of benefit staff turnover, and facilitate succession management.

Key components of The Benefit Book include:

  • Statement of strategic goals and annual initiatives.
  • Discussions and action items from your meetings with PrimeWest.
  • Quick reference of plan eligibility, vendors, plan design and per employee rate and cost data.
  • Chronological journal of key events and changes in benefit plans.
  • Monthly and year-end reporting of variable and non-variable plan costs.
  • Benefit calendar of important dates to meet strategic, administrative, and regulatory timelines.