I remember feeling so angry with a couple of my previous employers because I felt they didn’t do enough to offer their employees better benefits. Only recently, thanks to the IRS forcing me to become a household employer, did I glimpse just how tremendously difficult it is to calculate employee benefits. I was at my wits’ end in a hurry, so I’m guessing that small business owners curse themselves for having hired anyone/lose sleep/go mad when trying to navigate options.
Probably, employee benefits aren’t the first thing on entrepreneurs’ minds when they start up a business. Probably, a good number of them are entirely clueless about these matters. And I now am sure that conscientious owners want to take care of their staff, but struggle mightily to manage benefits packages.
If phone booths were still around, you’d see TailorWell racing inside of one and emerging with an EB (employee benefits) emblazoned on its caped superhero costume.
TailorWell is an online platform that helps agents and employers both buy and manage employee benefits.
For starters, they have a separate site, plan-compare.com, that lends transparency to the health insurance marketplace (no doubt always one of the biggest benefits on the table). Employers can more easily make sense of plans and pricing – and shop for the best group health insurance deal available. This makes life better for agents as well, as they have access to better information, i.e. products, while employers no longer need feel at the mercy of outside forces.
TailorWell also provides solutions to automate the entire benefits value chain all in one place. From enrollment to administration, to billing and more, employers needs are covered. TailorWell operates securely in the cloud, around the clock, allowing for real-time updates that reflect throughout the system.
Here’s a partial list of benefit solutions that TailorWell extends to small and medium-sized businesses:
- Medical Plans
- Supplemental Insurance Plans
- Dental Plans
- Vision Plans
- Life Insurance
- Disability Plans
- Dependent Care Reimbursement Account
- Flexible Spending Account
- Health Savings Account
- Direct Primary Care
- Patient Advocacy
- Pet Insurance
Even a quick read of that list makes it easy to understand how keeping benefits organized and employee data current would turn into a chronic headache without an efficient system in place. Passing that workload off to TailorWell doesn’t take much encouragement, does it? The platform improves life for brokers, employers and employees alike.
What makes TailorWell so different? In their own words: “We designed a product-centered, private exchange for smaller employers (5 to 500 employees). Unlike most benefit administration systems that are built to uniquely configure and manage one employer at a time, TailorWell’s core technology is designed to efficiently support aggregations of employer groups that all have access to a portfolio of products.”
So, TailorWell makes employee benefits easier to purchase and manage, while proving itself cost effective. Bravo.
Great benefits help to bring the best talent onboard and to keep employees around. Better deals, less hassles, more perks – this is a surefire recipe to gain a competitive edge.
Looking for better tools to handle employee benefits? Race to tailorwell.com for more details.