BenefitGuard announced partnerships with Utah healthcare benefit providers, Spectra Benefits and Miller & Wade Group, with the intent to simplify small business access for the two most popular employee benefits, health insurance and retirement savings.
“Small businesses are turning to one-stop shops more than ever for employee benefit programs,” states Matt Bradley, CEO of BenefitGuard. “Our streamlined 401(k) model is a natural fit for health benefit providers to effectively serve their customers. Our early efforts with these great partners are validating this direction.”
This one-stop shop initiative allows health benefits companies to better compete with discount services selling insurance and human resource outsourcing. These partnerships are even more beneficial to employers and employees because BenefitGuard’s 401(k) solution integrates with popular online health savings account (HSA) platforms.
- Helps employees view the HSA more like a retirement account for their health;
- Provides single sign on experience and displays 401(k) balances in the HSA portal;
- Increases retirement related messaging and notifications to participants; and
- Improves 401(k) platform access and utilization.
“Since the Affordable Care Act has made health insurance more accessible outside of employer coverage, the retirement plan has risen in importance to small business as a means of attracting and retaining great employees,” states Scott W. Miller of Miller & Wade Group. “Partnering with BenefitGuard allows us to keep pace with this evolving marketplace and bring great value to our customers.”
BenefitGuard is expanding business development initiatives with benefit providers on a national scale similar to its previous national expansion with financial advisers.