Terpstra Benefits Private Exchange
Terpstra Benefits Insurance Solutions has created its own exchange combining both the public exchange along side other insurance companies.
Mymarketplace uses the individual health plans the market offers today (both inside and outside of California’s public exchange… called Covered California) as its health plan choices. In addition, we have negotiated with premier insurance companies to offer additional ancillary benefits (Dental, Vision, Life, Accident & Sickness and Long Term Disability) within my Mymarketplace. Using the thousands of dollars saved by converting to individual health plans, the employer can take a small portion of the savings and pay for a portion of the ancillary benefits.
Ancillary benefits will be a greater differentiator this year than ever before.
Benefits-related pressures can squeeze the life out of a company. As skyrocketing costs and ballooning compliance duties push more employers to a tipping point, companies are slashing or eliminating their medical benefits – by far the priciest of employer-sponsored offerings.
Those shrinking benefits, though, can crush a company’s ability to recruit and retain a top-notch workforce. To remain competitive, many employers are to turning to ancillary products – such as dental, vision, life and disability insurance – as a way to broaden the overall appeal of their compensation package.
Without the burden of a full cost health care plan, many employers will have more flexibility to offer these attractive benefits and may be more willing to include them in their benefits offerings
In the past, employers have focused primarily on the medical benefits because that is the largest expenditure. They are now in an employee benefits environment that allows employers to add a variety of ancillary lines to the benefits offering for little or no additional cost to the employer.
Ancillary benefits provide employers with the ability to meet these needs on a variety of levels. Providing a robust benefit package consisting of a variety of ancillary benefits will allow employers to attract and retain the best employees of all age and talent levels.
OFFER A WIDE ARRAY OF BENEFITS
Attract and retain great talent
Recruiting can be an expensive drain on resources and inhibit growth and excellent customer service. By offering a full array of benefits powered by the contracts negotiated by Terpstra Benefits, employers can offer a comprehensive range of benefits at a predictable fixed cost – a key asset for attracting and retaining the talent you need to be successful.
SAVE TIME AND MONEY WITH A PROFESSIONAL ENROLLMENT TEAM
Reduce administration overhead
Traditional paper-based shopping and enrollment can be a drain on your administrative resources especially for smaller companies. Terpstra Benefits’ system streamlines the entire process reducing your administrative burden… saving you time and money.
SHOP IN A STATE-OF-THE-ART BENEFITS INSURANCE STORE
Employees can choose the products that best meet their needs.
In stark contrast to “One size fits all” traditional group plans employees using the Terpstra Benefits mymarketplace employees can shop for the products that best suit their needs and budget. Using the one-on-one assistance of our professional enrollers helping them understand the plans while staying within their budget.