Hauser Insurance Group Highlights Human Capital Risk Services

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The experts at Hauser Insurance know that an organization’s sustained growth is linked to the successful hiring and retention of employees with substantial human capital. This desirable combination of education, knowledge, specialized skills, and experience increases the employee’s value to the firm.

According to the Theory of Human Capital, companies are incentivized to make the best use of new and existing employees’ human capital. By doing so, each firm increases its ability to innovate and design creative solutions.

However, key employees can just as easily take their valued expertise to a competitor. Therefore, many companies provide these workers with compensation packages that provide an incentive to remain with the firm.

Hauser Insurance Group Optimizes Benefits Programs

In today’s highly complex operational environment, companies of all sizes are faced with rapidly increasing healthcare expenses. In addition, businesses must comply with multiple Affordable Care Act (or ACA) mandates and regulations.

Many companies have little experience with these complicated and often-intimidating requirements. This leaves them vulnerable to potential penalties and even legal consequences.

Fortunately, Hauser Insurance Group’s Employee Benefits Division is well-positioned to help its clients navigate these challenges. The firm’s recognized employee benefits experts stand ready to assist clients with medical, dental, and vision coverage logistics. Life insurance, short- and long-term disability, and Section 125 plans are also within Hauser’s services purview.

Finally, Hauser Insurance Group recognizes that targeted executive benefit plans play a key role in attracting (and retaining) high-level talent. To that end, the Company offers its clients a menu of executive benefit plans.

Execution of Diligence Teams’ Recommendations

Hauser Insurance Group’s diligence teams frequently deliver recommendations for employers involved in merger and acquisition transactions. The recommendations outline methods for maximizing the company’s group plan benefits. Concurrently, the recommendations call for employee plan enhancements and more effective customer service.

To execute the Hauser diligence teams’ recommendations, the Company’s benefits brokerage experts collaborate with outsourced human resources group professionals. Together, this highly skilled team ensures seamless integration of fiscally appropriate benefits guidelines.

Benefits Services Menu

In today’s highly competitive employment marketplace, employers frequently offer comprehensive benefits programs to attract top-tier candidates. To administer these programs, companies often contract with employee benefits services specialists such as Hauser Insurance Group.

Strategic Services

To fine-tune an employee benefits plan, a company may survey employees via an easy-to-complete questionnaire. Based on the results, the firm’s benefits services provider (such as Hauser Insurance Group) designs an employee benefits strategic plan.

Next, the benefits services provider compares the draft plan to a benchmark plan with similar parameters. If necessary, the provider revises the draft plan to allow for changing economic conditions and other factors.

Finally, the benefits services provider discusses the completed plan with the employer. Assuming the company remains with the same carrier, the provider makes the appropriate arrangements to ensure continuity.

Program Enrollment

An employee benefits program enrollment campaign involves varied components. An experienced benefits services provider, such as Hauser Insurance Group, coordinates the effort on behalf of the employer.

First, the provider’s representatives conduct employee enrollment meetings, often in multiple company locations. The provider’s associates handle the collection of the completed enrollment materials. After carefully reviewing them, the associates ensure timely submission to the plan’s carrier.

When new employees become eligible for benefits, the benefits services provider coordinates each worker’s benefit plan enrollment. Finally, the provider ensures that employees are advised of relevant benefits issues that may arise throughout the year.

Renewal Services

Renewing an employer’s insurance coverages is a multistep process. To begin this systematic undertaking, the employee benefits services provider’s underwriter analyzes each company’s existing policies. This specialized insurance professional factors in changes that may have occurred to the company’s operating environment along with the associated risks.

Next, the underwriter determines the actuarial rates that will govern the policy’s renewal terms. In addition, this insurance expert conducts a thorough claims evaluation to identify abnormal patterns or other areas of concern.

Insurance Renewal Action Plan

Equipped with that data, the underwriter develops a targeted renewal action plan. Although each coverage package is different, a well-crafted plan addresses the client’s insurance coverage needs while taking the firm’s financial situation into account.

Plan Includes Voluntary Benefits Package

In addition to medical coverage, the underwriter designs a carefully chosen menu of “voluntary benefits.” These popular insurance add-ons provide employees with targeted coverage at very little expense to the employer.

Voluntary benefits also help employers minimize their payroll taxes, as these premiums are paid with pre-tax payroll deductions. Examples of voluntary benefits include dental, vision, life, and disability insurance, among others.

Plan Includes Ancillary Lines of Coverage

The underwriter’s action plan also includes renewal recommendations for ancillary benefits. This secondary health insurance offers coverage for miscellaneous in-hospital medical expenses.

Insurance Carrier Evaluation and Renewal

Each year, the benefits services provider’s underwriter evaluates an employer’s current coverages. Based on the findings, the underwriter designs a targeted action plan for the upcoming period.

Concurrently, the underwriter also decides whether to renew the insurance carrier’s contract. The underwriter will consider factors such as the insurer’s financial strength, insurance rates, and customer service ratings, among others.

Employee Communications

A company’s Employee Communications Department serves as the information link between the organization and its employees. Through email communications, onsite meetings, and other vehicles, employees learn about relevant programs, initiatives, and opportunities for personal growth.

Employee Newsletters

Employee newsletters present information related to corporate policies and company-wide events. These e-newsletters may also include features on specific departments or services.

Companies often spotlight employees who achieve meaningful goals or make significant contributions to their communities. Finally, community news information may also be posted.

Benefits Education Campaign

To assist employees in selecting the most appropriate benefits package, a company often conducts a company-wide benefits education campaign. Although this informational program generally takes place during the annual benefits enrollment period, the Benefits Office may update employees on relevant issues throughout the year.

Employee Benefits Statements

Many firms provide medical and related insurance benefits and most larger companies offer retirement and/or 401(k) programs. At least once per year, businesses typically update employees on their benefit programs’ status.

Some firms still generate paper-based employee benefits statements. However, many companies provide this information via a portal on the corporation’s website.

Employee Wellness Services

For several decades, forward-thinking companies have provided employees with wellness-related services. Collectively, these offerings promote employees’ physical and mental well-being. Healthier employees usually take fewer sick days, contributing to a more stable employee workforce and fewer new hire training expenses.

Wellness services typically include an exercise component. Larger companies may offer an onsite workout facility while other businesses negotiate special rates with nearby fitness centers.

A Registered Dietitian (or RD) frequently provides employees with nutrition-related information. Finally, a full menu of mental health services may be available through local providers.

Legislative Compliance

Employers must comply with numerous healthcare laws and regulations. Many of these mandates are complex and confusing, resulting in a need for expert assistance.

Hauser Insurance Group’s healthcare legislative specialists are well-positioned to facilitate compliance with all applicable requirements. These recognized experts will advise employers on healthcare reform implications and penalties.

Hauser’s specialists are also well versed in compliance with other applicable employment laws. Finally, Hauser team members will provide informed advice on HIPAA, COBRA, FMLA, Section 125, and Medicare Part D issues.

Human Resources

An employee benefits services provider often performs multiple human resources functions. The provider ensures the availability of employee-focused services such as an employee handbook and an online employee benefits portal. Employees also receive access to varied professional community services.

On the administrative side, the employee benefits services provider maintains an online library of current human resources forms. Employees can access these templates, along with resources links, through the company’s online employee benefits portal.

401(k) Plan Analyses

Hauser Insurance Group’s 401(k) experts conduct detailed analyses of clients’ 401(k) and retirement plans. These evaluations are designed to facilitate plan sponsors’ fiduciary compliance, optimal plan performance, and cost reductions.

Based on each analysis’ results, Hauser’s credentialed experts provide 401(k) plan participants with targeted plan management, education, and ongoing communication. The overarching goal is to maximize employee participation and achieve employee satisfaction.

View a partial list of Hauser’s 401(k) plan services:

  • Intensive investment due diligence, analysis, and reporting
  • Efficient, cost-conscious fund management
  • Provision of plan-related resources and fiduciary assistance
  • Compliance with comprehensive ERISA standards
  • Periodic updates on regulations affecting plans and fiduciaries
  • Employee education regarding the plan, retirement preparation, and investment strategies

Hauser Insurance Group’s 401(k) experts stand ready to support plan sponsors and employer representatives. Customized assistance is also available.

About Hauser Insurance Group

Hauser Insurance Group is a nationally recognized insurance firm serving clients in numerous industries. Launched in 1971, this privately held company is known for its risk management expertise and associated insurance solutions for variably sized businesses.

Based in Cincinnati, Ohio, Hauser’s strategically located regional offices enable smooth interactions with clients in large metropolitan markets along with smaller cities and towns. With seamless electronic communications, geographic distance does not present a barrier to effective service.

Hauser Insurance maintains full-service East Coast operations in Atlanta and New York City. The firm’s Midwestern service hubs are located in Chicago, Kansas City, and St. Louis. The Company’s Los Angeles office serves West Coast clients.

Hauser Insurance Group maintains a well-rounded employee benefits services menu. The Company frequently serves companies involved in mergers and acquisitions along with their portfolio businesses and targets.

Private Equity-focused Services

In addition to its well-regarded employee benefits services, Hauser Insurance Group offers a robust portfolio of risk management and insurance solutions. To illustrate, Hauser frequently provides private equity firms with comprehensive corporate risk insurance due diligence services. These efforts are mainly in preparation for an upcoming merger or acquisition.

Specifically, Hauser identifies potential coverage liabilities or gaps. The Company also resolves existing or potential compliance issues. Finally, Hauser recommends results-focused solutions that often save its clients money over the long term.

Finally, Hauser Insurance Group also conducts thorough due diligence on private equity firms’ acquisition targets. The companies’ insurance and employee benefits programs also receive an intensive evaluation.

Hauser’s Multifaceted Client Base

For perspective, Hauser Insurance Group’s 2021 client base included 70 private equity companies in 44 states. In 2020, Hauser completed nearly 200 private equity transactions.

Hauser’s other clients include family-owned industrial firms, publicly-traded retail businesses, and other public companies. Special-purpose acquisition companies (or SPACs) and multinational corporations also appear in the firm’s client database.

Highly Specialized Advisory Team

Hauser Insurance Group’s nationally recognized advisory team includes merger and acquisition specialists along with risk advisors. Private equity brokerage professionals round out the firm’s top-tier advisory group.

Each client’s complex insurance requirements benefit from a consultative approach. By learning about each company’s needs, and recommending specific insurance products to address them, Hauser helps ensure that the firm is well prepared for a wide range of business challenges.