Category

Employee Benefits

Mar 06

Employee Benefits Education: Understanding Voluntary Benefits

By Employee Benefits
You know the importance of health care coverage and a 401(k), but are you taking full advantage of voluntary benefits through your employer? These additional benefit options, offered by your organization, allow you to access valuable coverage at a lower cost. Unlike traditional benefits, employees typically pay most or all of the cost for these voluntary options. Why Choose Voluntary Benefits Through Your Employer? Lower Price If you’re planning to purchase a benefit anyway, it’s likely more cost-effective to do so through your employer. The group rate your organization secures is usually lower than what you’d pay individually. Convenience Electing voluntary benefits…
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Jan 13

Overlapping Programs and Gaps in Coverage – A Kapnick Case Study

By Business Insurance, Case Studies, Employee Benefits
Managing multiple insurance brokerages can lead to overlapping programs, gaps in coverage, and inefficiencies. A commercial and residential property developer faced these challenges with separate brokers for Employee Benefits, Private Risk Management, and Property & Casualty insurance. Kapnick stepped in to provide integrated insurance solutions for developers, streamlining their coverage and delivering innovative remedies. PRIVATE RISK MANAGEMENT: STREAMLINING COVERAGE The developer’s private risk management program had inadequate liability limits, uninsured assets, and overlapping coverage. Kapnick’s Solution: Consolidated the insurance program to simplify billing and renewals. Broadened coverage by transitioning to a high-net-worth specialist insurer. Conducted replacement cost assessments and eliminated coverage…
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Jul 26

Innovative Healthcare Plan Designs to Meet Your Employees’ Needs

By Employee Benefits
Rising healthcare costs are a challenge for both employers and employees. Premiums, doctor visits, and prescription expenses continue to climb, leaving employees searching for ways to manage unplanned medical costs. Fortunately, there are innovative employee healthcare solutions designed to protect employees’ health and savings while helping employers control costs. HSAs: EMPOWERING EMPLOYEES TO SAVE One popular consumer-driven option is pairing a high deductible health plan (HDHP) with a health savings account (HSA). This alternative to traditional health plans empowers employees to take control of their healthcare spending. Advantages of HSAs: Tax-free contributions, growth, and withdrawals for medical expenses Funds roll over annually…
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Jul 21

Stepping Off The Renewal Rollercoaster of Employee Benefits with Self-Insurance

By Employee Benefits
Designing an employee benefits program that meets your employees’ needs while supporting your company’s long-term growth and financial goals can feel overwhelming. However, Kapnick makes it easier. By offering strategies like self-insurance for employee benefits, we empower employers to take control of costs, manage risks, and achieve financial stability. THE ADVANTAGES OF SELF-INSURANCE AT RENEWAL TIME BEND THE COST CURVE Self-insurance allows employers to bend the cost curve downward. Instead of dealing with unpredictable annual increases, you can stabilize your expenses and plan more effectively. INVEST IN YOUR ORGANIZATION With self-insurance, you keep all the savings and interest income your program…
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Jul 19

Inclusive Benefits for a Multigenerational Workforce: Attract and Retain Top Talent

By Employee Benefits, From the Experts
Diversity is essential for attracting and retaining employees in today’s competitive job market. People value inclusive organizations that prioritize equal opportunity and embrace diversity in race, gender, sexual orientation, and age. To truly support a multigenerational workforce, employers must offer inclusive benefits for a multigenerational workforce that address the unique needs of employees at every stage of life. THE BENEFITS OF A MULTIGENERATIONAL WORKPLACE An inclusive workplace with employees of all ages brings a wealth of advantages, including: Varied perspectives and experiences that foster innovation. Opportunities for mentorship, with both mentors and mentees readily available. Reduced employee turnover, as employees feel valued…
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Jul 11

Health and Wellness Improve Workplace Productivity

By Employee Benefits
Employee health and wellness are critical to workplace success. Healthy employees can focus their energy on work rather than health concerns, leading to increased productivity. At Kapnick, we offer employee health and wellness programs designed to improve and maintain the well-being of your workforce. These programs not only enhance employee health but also help reduce costs for employers.
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Jul 05

Protect Your Individual Assets with Private Client Insurance

By Employee Benefits
The cannabis industry continues to grow rapidly, offering innovative investors the potential for significant financial rewards. However, with great opportunity comes great risk. Protecting your individual assets is essential to securing your hard-earned success. At Kapnick, we specialize in cannabis industry asset protection, providing personalized risk management strategies and comprehensive insurance solutions tailored to your unique needs.
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Jun 29

Attract and Retain Top Legal Talent Through Employee Benefit Solutions

By Employee Benefits
Supporting attorneys and partners through demanding schedules is no small task. One way to ease their stress is by offering an excellent employee benefits package. At Kapnick, we design employee benefits for law firms to attract and retain top legal talent while reducing costs. TOOLS AND RESOURCES TO ENHANCE YOUR BENEFITS PROGRAM Kapnick provides tools and resources to ensure your benefits program meets the needs of your team. These include: Kapnick Lens: This claims analytics tool integrates and analyzes health data. It uncovers cost drivers and program correlations. Call Center: Our concierge service helps employees with benefits questions, claims, and new hire…
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Jun 22

$1.4 Million in Saving Through Benefit Plan Consolidation – A Kapnick Case Study

By Case Studies, Employee Benefits
Managing segmented benefit plans across multiple locations can be a significant challenge for manufacturers. A new client in the automotive parts manufacturing industry, with approximately 1,000 employees, faced this exact issue. With segmented plans across three locations, a mix of union and non-union workforces, and complacent brokers, they were hit with a 25% premium rate increase upon renewal. Kapnick stepped in to provide a proactive solution, demonstrating the value of consolidated benefit plans for manufacturers. THE PROBLEM: SEGMENTED BENEFIT PLANS AND RISING COSTS The manufacturer’s segmented benefit plans, combined with brokers who failed to utilize claims data or address risks, led…
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