Managing Socio-Economic Forces Impacting Employee Benefits

After years spent trying to maneuver the impacts of the Affordable Care Act, small business owners have found themselves further burdened over the past couple years from various pandemic, social and economic forces. With many decision makers facing urgent needs to trim costs, a reduction or even elimination of employee benefits has undoubtably been discussed by many of these same business owners at one time or another.

Most people already know that health insurance premiums represent a major portion of a company's operating budget, but the combination of reduced overall revenue and increased insurance costs have created a financial burden most companies have not previously experienced. At the same time, employers know how much their staff values employee benefits and that eliminating them could risk losing key employees.

Fortunately, there are options available to employers who are facing this difficult decision and the staff at My Benefit Advisor can help. By understanding your business circumstances and employee demographics, we can tailor solutions involving creative strategies and the latest industry tools. Professional Employee Organizations, Discount Programs and Individual Coverage HSAs have all enabled employers to achieve their employee benefit objectives during these challenging times.

AIA Philadelphia offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at aiap.mybenefitadvisor.com or contact Marlon Richardson at (215) 790-3640.