TBS Named One of Washington’s 100 Best Companies for Second Year in a Row
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For the second year in a row, TBS has been recognized as a 100 Best Company to Work for in Washington by
Seattle Business Magazine. This year a record number of companies large and small from all over the state entered and participated in the program resulting in more than 77,000 Washington state employees being asked in depth about their workplace.
TBS attended the awards ceremony at the Washington State Convention Center on June 28th. Using feedback from anonymous employee surveys, awards were presented across four categories: Small Firms, Midsize Firms, Large Firms and Firms Headquartered Outside Washington state. TBS was ranked #27 in the Small Company category. TBS previously made the list for the first time in 2017. Research firm Fieldwork Webwork administers the survey which ranks employees’ anonymous responses across 10 categories: corporate culture, executive leadership, benefits, communication, hiring/retention, performance standards, responsibility/decision making, rewards/recognition, training/education and workplace environment.
Of the honor, John Henry, Managing Director of TBS, says, “Earning our way onto the 100 Best List of Companies in Washington for a second year in a row, is one of the achievements I am most proud of. It is confirmation that we are living our Core Values and that our employees feel empowered to succeed.”
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Level/Self-Funding: How These Plans Can Help Your Small Groups
Contributed by
Holly Simon
, TBS New Business Specialist
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Self-funded options are readily available to large groups in the 100+ market. “Large groups have long been able to
self-insure their health care coverage. Under a self-insured plan, employers directly cover the costs of their employees’ medical expenses. The employer is not subject to all of the required coverages, or essential benefits, that are core to the ACA. And, the employer is covered against extraordinary costs through participation in an insurance captive or through stop-loss insurance. Small groups, however, have not had the scale, systems, process or sophistication to self-insure. In short, it has been too onerous and risky for them to self-insure. (Levin, 2017)”
With the changes that ACA brought to the small group market there has been a need for an affordable alternative. To respond to this need, insurance companies are now extending the self/level-funded offerings to the small group market. Below are a few of the many benefits of these plans:
- Utilizing a level funded or self-funded plan allows groups to manage and understand how their claims dollars are being spent throughout the year.
- Additionally, with the monthly reporting groups have a clear picture of how healthy or unhealthy their employee population is.
- This allows groups to implement wellness programs to help their employees to get healthier.
- Many of the level/self-funded plans that are available to small groups have a combined single monthly payment to make the process simpler.
- Groups can also get unused claims dollars back at that end of each year if their claims utilization is low.
There is minor risk for small groups to venture into the world of level and self-funding. If they find that they have an unhealthy population and they are exceeding their claims maximums even after one year, they can always return to an ACA plan option. As small group brokers are becoming more educated and comfortable with Level and Self-funded plans more small groups will start to utilize these types of plans.
To speak with Holly and get more information on Aetna Funding Advantage (AFA) product for Idaho small groups email her at hollys@tbsmga.com or call 425.777.4709.
Sources: Levin, Michael 2017 Why brokers should explore level-funded plans for small group clients
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AAHU Summer Carnival & Foot Golf
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Have you registered for the 2018 Alaska Association of Health Underwriters (AAHU) Carnival and Foot Golf Bash? It takes place on August 8th at 11:30am. If you haven't registered yet, then don't worry-- there is still time!
Foot golf is a cross between traditional golf and soccer. And for those of you who aren't interested in foot golf there will be carnival games to keep you entertained!
For more information on the pre-event function, the carnival and foot golf, or to register please visit the AAHU site at http://www.alaskaahu.org.
We can't wait to play and hope to see you there!
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Summer Produce: What's In Season?
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It's officially Summer! And with all the heat of the Summer months comes a bounty of delicious and nutritious fruits and vegetables. Below is a list of the some of the season's biggest hits along with a healthy recipe for each.
Enjoy your Summer and all the treats that come along with it!
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Question of the Month
This month's question is answered by
Mo Abulbasal
of the New Business Team.
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Q: Why would a business use a PEO?
A: Business owners want to focus their time and energy on the "business of their business" and not on the "business of employment." As businesses grow, most owners do not have the necessary human resource training, payroll and accounting skills, the knowledge of regulatory compliance, or the backgrounds in risk management, insurance and employee benefit programs to meet the demands of being an employer. PEOs give small-group markets access to many benefits and employment amenities they would not have otherwise.
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For more information on our broker centric PEO, Scale and how we can work together to provide a single source solution for your clients' HR, Employee Benefits, Payroll Administration, Workers' Comp and Risk Management needs, contact us at
info@scalehro.com or visit
www.scalehro.com
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TBS in Action
Check out what we've been up to lately...
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The TBS team had a wonderful time celebrating at the Seattle Business Magazine 100 Best Companies to Work For awards banquet.
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