Guidance for your long-term development needs
Not only is each business unique in composition—by number of employees, for example—but different businesses have a variety of employee benefits needs. Those benefits needs tend to change significantly over time. Foundation Strategies understands that. While we develop employee benefits plan strategies around your existing conditions, we are always looking ahead to the long-term needs of your company and carefully considering the evolving benefits needs of your employees, whether they are working at the home office, in the field, or around the globe.
Foundation Strategies begins by initiating a development process to help you define your ideal employee benefits plan. Then we help you prioritize your needs, assess your business realities—including budget impact—and work with you to design and implement a highly functional, cost-effective and flexible benefits solution.
Foundation Strategies’ 5-step approach to benefits plan design and strategy
When we collaborate with our clients on strategy and plan designs, we consider the following factors:
- Our client’s goals and priorities
- What employees value
- Advantages and disadvantages for both the employer and employees
- Effect on competitive status
- Resources and capabilities required for a successful implementation
We believe that the client knows best what strategy or design is appropriate for their company, so we do not presume to dictate what a client should do. Our role is to provide our clients with innovative options and alternatives, keep them informed of implications and issues and assist in anyway necessary to meet their objectives. Foundation Strategies consultants have worked on a broad range of strategies and plan designs in their benefits consulting careers, from small local clients to large national conglomerates.
Our top-notch, technical team has experience in the following areas and many more:
- Credit-based flexible benefit programs, including “mega-flex” plans
- Mergers and acquisition program realignments, along with plan divestitures
- Consumer-driven health care/account-based health care, including Health Savings Accounts (HSAs) and Health Reimbursement Accounts (HRAs)
- Holistic care management strategies
- Defined dollar benefit and/or defined contribution strategies
- Prescription drug management strategies
- Efficiency-based pricing
- National and global plan consolidation and centralization
- Retiree health care strategies
Our experience will help you to avoid pitfalls in developing and implementing any new plan strategies. Please contact us to learn more.