In today's fast-paced and ever-evolving business landscape, small businesses are the backbone of economic growth. If you’re a small business owner, you play a pivotal role in driving innovation, creating jobs, and fueling local economies. However, you face a unique set of challenges, from rising insurance rates to increased competition. That's where CH Insurance steps in with its innovative ‘BOOST Group Benefits Program (formerly known as ‘Fifty Under 50’). In 2019, CH launched this unique group benefits program specifically designer for small business, with tremendous impact and success for the Central NY. In this article, Joe Convertino Jr., President of CH Insurance, sheds light on the program and the pressing issues small business owners encounter in today's environment.
The Challenge of Rising Rates
One of the most significant hurdles faced by small businesses today is the escalating cost of employee benefits, especially health insurance. With the healthcare industry's ongoing transformations and the global pandemic's impact, health insurance premiums have skyrocketed. Smaller companies often find it challenging to provide attractive benefits packages while keeping their budgets in check. This dilemma directly affects employee retention, as competitive benefit offerings are a crucial factor in attracting and retaining top talent.
Joe Convertino Jr. says: "We understand that smaller companies may struggle to maintain competitive benefits packages due to rising insurance rates. They need an all-important BOOST (Benefits Optimization and Opportunities for Small Businesses). This special program is specifically designed to address this issue. By leveraging our expertise and industry relationships, we negotiate competitive rates for these businesses, ensuring that their employees have access to high-quality benefits without breaking the bank. It’s making a dramatic difference for our clients. It’s the shot in the arm they needed. "
The Importance of Tailored Solutions
In today's fiercely competitive job market, employers are under pressure to offer benefits that cater to their employees' diverse needs and preferences. However, this is often easier said than done for a small business. Unlike large corporations with extensive resources, smaller companies must carefully allocate their budgets to make the most impact. This requires innovative and tailored solutions that address the specific needs of their workforce. Joe Convertino Jr. emphasizes "We recognize that no two businesses are alike, and their benefits programs should reflect that. BOOST is not a one-size-fits-all approach. However, we’ve found that it addresses similar patterns that exist in most small businesses."
Staying Ahead of the Competition
Competition in today's business landscape is fierce, with small businesses competing not only with other small businesses, but also with larger corporations. Attracting and retaining talent is a key differentiator, and a robust benefits program can give smaller companies the edge they need. BOOST is designed to level the playing field by providing a small business owner access to the same caliber of benefits enjoyed by larger organizations.
Joe Convertino Jr. affirms "Our program empowers smaller businesses to compete effectively by offering top-tier benefits. By doing so, they can attract and retain high-performing employees who are essential to their growth and success."
Here's why BOOST could be the right fit for your small business:
1. TOTAL ACCESS TO CH Connect: Simplified Enrollment
Who needs paperwork when you can streamline benefit elections online? The CH Connect platform offers owners a seamless and paperless enrollment experience. Say goodbye to administrative hassles and BOOST embrace the digital era of benefits management.
2. COBRA Total Coordination: Hassle-Free Compliance
Dealing with COBRA can be a headache for business owners. But when you BOOST your business with CH Insurance, COBRA becomes a breeze. CH handles all COBRA-related mailings and compliance issues, ensuring peace of mind for your business.
3. HR Hotline: Expert Guidance When You Need It
When HR issues arise or you simply need reassurance, CH Insurance provides you with an HR hotline. This invaluable resource comes with a bonus: a complimentary review of your Employee Handbook, ensuring your HR practices are up to par.
4. Your Total Advocate: Dedicated Support
With CH Insurance's team of BOOST Small Business Health Insurance Experts in your corner, you'll have unwavering support when you or your employees face insurance-related issues. Whether it's a denied claim, an MRI approval snag, or communication with carriers, CH Insurance steps in. They work directly with individuals to resolve issues, facilitate peer reviews between doctors and carriers, and keep everyone informed throughout the process.
5. Total CHoice: Unparalleled Options
While insurance rates are fixed, the real differentiator is the level of service and partnership. When you work with CH Insurance, you gain access to a wide array of carrier options, including all 32 Excellus plans. Instead of settling for just a handful of plans at renewal, CH Insurance ensures you see all your choices, helping you make informed decisions that align with your budget and employee needs.
6. Financial Wellness: Comprehensive Support
CH Insurance goes beyond traditional benefits services. With access to financial consulting experts, both your company and your employees can make informed decisions about financial matters. This includes commercial lending consulting for your business, personal wealth management, discussions about existing or new qualified plans like 401(k), and key-person life or disability insurance. CH Insurance is committed to your financial well-being, both professionally and personally.
In today's competitive business environment, small business owners need every advantage they can get. BOOST with CH Insurance, led by Joe Courcy and the expert group benefits team, offers a comprehensive and tailored approach to addressing the unique challenges faced by small businesses. With simplified enrollment, COBRA compliance support, HR guidance, dedicated advocacy, a plethora of carrier options, and financial wellness services, this program is designed to empower small businesses to thrive, innovate, and continue driving economic growth. When it comes to benefits solutions, CH Insurance is your cornerstone partner, ensuring you're well-prepared for the challenges of today and tomorrow.
As President of CH Insurance, Joe Convertino Jr. believes that by addressing these challenges head-on, we can create a more robust and resilient business ecosystem, where small businesses continue to drive growth and prosperity in our communities. Are you ready for a BOOST? You deserve it! CH Insurance is in your corner… every day, every way.