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.
employees view the HSA more like a retirement account for their health;
single sign on experience and displays 401(k) balances in the HSA portal;
retirement related messaging and notifications to participants; and
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.