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How Tech Companies Can Purchase Employee Benefits

By Shawn Pynes, Principal, Director of Employee Benefits Division

clock May 19, 2014 at 10:00 AM

When is something worth doing twice?

When it works very well.

The Benefits Technology Trust is similar to a highly successful trust program we pioneered two years ago that enables life science and biotech companies to pool their purchasing power to buy employee benefits at more competitive prices.

Since the Beyond Benefits trust launched in January 2012, 185 biotech firms have saved more than $5.8 million in annual medical premium. In total, Beyond Benefits now covers more than 5,500 employees.

Opportunity For Tech Companies

The Technology Trust operates much like Beyond Benefits and addresses a genuine problem for growing tech companies: How to attract and retain the best technology talent. In California in particular, the biggest impediment to growth for many tech companies is getting the right people.

Established tech companies such as Google, Facebook, Oracle and others typically offer rich benefits programs. That’s a challenge for private or pre-IPO companies that don’t have the revenue to support similar benefits packages.

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Topics: Employee Benefits, Health Care Reform, Technology

Employee Benefits…There’s an App for that?

By Shawn Pynes, Principal, Director of Employee Benefits Division

clock April 14, 2014 at 10:00 AM

Your Employee Benefits Communication Solution in One Handheld Place

There is no denying it… We are glued to our phones these days. We constantly want to be in touch through email or text and enjoy surfing the web, playing Candy Crush, checking online banking, maybe dating and more. Even the health care industry is creeping onto our cellular and tablet devices. Insurance companies now have applications that allow members to schedule appointments and doctors can even use mobile apps to make treatment decisions. Crazy, huh?

To hit a little closer to home for you as an employer, companies are using the technology their employees already interact with to their advantage. They’re developing personalized apps to allow employees easy access to benefits communications, plan details and insurance company information.

Here at Marsh & McLennan Agency, we developed the iBenefits app. This provides employees with 24/7 access to customized  benefits information. Employers big and small are finding it useful in more ways than one. Specifically:

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Topics: Employee Benefits, Human Resources, Technology

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