Question 1

What are the benefits of developing a working relationship with PSH Insurance?

Accepted Answer

When you partner with PSH Insurance, you will work one-on-one with one of the company owners who helped build our company from the ground up and have a vested interest in "your" company's success.  PSH Insurance is built upon a foundation of professionalism and integrity.  These principles are adhered to daily, whether you are a client of twenty years or a newly referred client. 
PSH will act as member of your "employee benefits team".  PSH will analyze the economy, the business community and benefit trends to ensure that your company's benefit program remains up-to-date and appropriate in fitting with your business goals and philosophy.   Working in partnership as part of your "benefits team" PSH will respond to resolve issues, make recommendations, review new products and trends, and give objective opinions when deciding to make changes.

Question 2

Why would a company want to use an Insurance Broker to assist them with employee benefits?

Accepted Answer

In today's competitive marketplace, companies are finding that in order to retain top employees they have to consider more than salary.  Employees are looking for more than a paycheck, they are looking for more intangible benefits. 
In fact, the 2006 U.S. Office of Personnel Management Employee Benefit Survey showed that 79% of employees thought Group Life Insurance was either "Important" or "Very Important" while 63% had the same responses for Long Term Care Insurance and 45% for Flexible Spending Accounts.   If an employer does not have a competitive benefits package, there is a good chance that employees will seek those benefits elsewhere.  More and more employers are offering a total benefits package to better meet employees needs.  An Insurance Benefits Broker can provide the tools and guidance to help employers build the perfect benefits package to meet their needs

Question 3

What does an Insurance Broker do?

Accepted Answer

Navigating the maze of benefit options, costs, providers, vendors, and state and federal laws can be challenging.  It is the job of an Insurance Benefits Broker to help you navigate that maze.  Even companies with experienced Human Resources departments find it beneficial to use the services of a Benefits Broker such as PSH Insurance.  
The employee benefits package offered by an employer should be a reflection of their organization's philosophy and goals. It is our job to understand your goals and help you develop a benefits package tailored to your needs and the needs of your employees. We provide you with the information and resources necessary to make informed and effective decisions regarding the benefits you choose to offer.

Question 4

What is the process involved in developing a plan for individual clients?

Accepted Answer

In the past, most companies chose to offer only the minimum level of mandated benefits. That is no longer the case as employers attempt to recruit and retain quality employees. PSH Insurance, Inc. can instruct companies on how to offer a wide-range of employee benefits suited to their philosophy, budget, and goals.   PSH can introduce benefits an employer may never have considered.  These options may include additional or optional life insurance, cafeteria plans, supplemental disability insurance, long term care insurance, or prescription drug options.        THE PROCESS     The benefit planning process begins by gathering information about your existing plan(s).  We ask questions to help develop the strategy best suited to your organization.  In determining strategy, together we will consider all possible benefit options and help establish measures to meet your budget. 
Once we have established a criteria in regards to plan options, design, and budget we will shop the market for the best plan options available.  We can provide to you several plan options balancing both quality and cost.  Together we will review all options, identify any excesses or gaps, and recommend a plan designed exclusively for your organization.

Question 5

Is our work done after the client chooses a plan or product?

Accepted Answer

No, it is just the beginning. Anyone can sell you insurance, we want to help manage your insurance plans.   PSH Insurance, Inc. will develop a partnership with you. We will work throughout the year to ensure that the best interests of your organization are being met.  Some of our ongoing services include:  Open enrollment coordination and assistance, enrollment form review and submission, advocacy and problem solving assistance.  In addition you can look to us as an extension of your Human Resources department.  We are available to answer questions or direct you to resources when issues or concerns arise.   Prior to the end of your plan year, PSH will review claims history and renewal rates.  We will evaluate your cost and benefits to ensure that your benefit package continues to compliment your organizational goals and philosophy. If it is determined that change is necessary we will recommend modifications and assist you through the process.

Question 6

What can we do for a company that is happy with their current benefits?

Accepted Answer

PSH Insurance can offer special products and services at little or no cost to the employer that can greatly enhance their current benefits package.  Organizations with even the most comprehensive benefit packages would still be surprised at what else is available.   Following is a list of additional products and services available. Provide a bi-annual newsletter focused on health issues Provide access to professional HR resources to assist with compliance issues such as FMLA, HMLA, COBRA, time & attendance, or handbook review Offer alternatives to prescription drug costs Annual review of current benefits Offer supplemental products at no cost to the employer such as pet insurance, or personal response systems Offer 401(k) and profit sharing plans, Key-man Insurance, Buy-Sell agreements, or income replacement for executives

Question 7

Why is offering a complete benefit package so important?

Accepted Answer

Your employees are one of your most valuable assets.  A comprehensive benefits package will help protect those assets.  Employee benefits serve as a hidden paycheck, help employees meet their personal needs, and can help offer financial security.   A solid benefits package can have a direct impact on morale, recruiting, and retention. 
Our experience has shown that employees are looking for benefits that meet their personal needs and they are willing to pay a few more dollars a month for increased benefit options and flexibility.  Let PSH Insurance show you options to enhance your benefits package without breaking your budget.

Question 8

How can PSH Insurance, Inc. assist clients when companies restructure or enhance their benefits package?"

Accepted Answer

Benefit objectives can change over time.  You want an Insurance Benefits Brokerage that can change with you.  You may wish to develop a new approach or new philosophy when it comes to benefit offerings.  Whether you are looking to be more competitive within your industry, offer benefits as an incentive for years of service, address economic challenges, or simply round out an existing offering, PSH will work with you to achieve your desired objective.

Hawaii‘s Trusted Insurance Connection

737 Bishop Street, Suite 2120 | Phone: 531-6211 | Fax: 531-6216 | psh@pshinsurance.com

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