Risk & Business Magazine California Risk & Business Magazine Summer 2017 - Page 27

RUDY GARCIA: MAN ON A MISSION helped by avoiding fees and penalties resulting from compliance errors? 4) Have costs for health care decreased in situations where a coalition plan (see below) or level self-funding is a good fit? In large part, employers that put employee well-being at the top of their agendas and that give their ABC the authority to implement and engage with support from senior management end up with the greatest results. “Those are the types of employer’s Qandun focuses all of its attention on,” says Garcia. “It’s a partnership in every sense of the word.” SAVINGS IN NUMBERS One option that can come into play for companies that have the right mix of risk and size is a coalition plan, which is where a company joins with other similar firms and collaborates to better manage and control their benefits and benefits spend. A coalition plan allows companies to closely track plan costs and utilization because they have more access to their plan data. With this type of information, Qandun can measure and affect metrics like total employee benefit cost per hour of wages—an important number that most companies are pleased to find can be less than one dollar. Moreover, in years when a company has low utilization of health care, that company gets part of its premium returned. In most years, companies participating in a coalition plan receive $10,000s and often $100,000s of premiums returned to their budgets. THE PRESENT AND FUTURE AGENCY Garcia believes that he has fulfilled his vision of creating an employee benefits agency that puts clients first, but he acknowledges that it is still in the early stages of growth and acceptance. Most important is that he has tied his compensation to performance, introducing a model that more closely matches a typical business scenario—one in which performance is an important factor in determining compensation, bonuses, and annual raises. Today, Garcia participates in an exclusive “mastermind” network of about thirty ABC-style firms from across the country that meets quarterly and works cooperatively to help improve and grow one another’s businesses. Garcia’s goal for the future is to continue to find ways to educate companies to let them know they do have options in employee benefits that can help reduce and even reverse their medical premium growth trend, freeing them to focus on what they do best: providing great products or services and growing their bottom line. + When was the last time your health insurance company paid you money back? Discover transparency and see exactly what drives your benefit spend. Realize meaningful cost control with savings returned to you. Contact Roundstone today to get started. www.roundstoneinsurance.com | 440.617.0333 27