SALT LAKE CITY (PRWEB) October 26, 2016
BenefitGuard, founded in 2010 with the intent of fixing a broken 401(k) model, today announced partnerships with Utah healthcare benefit providers, Spectra Benefits and Miller & Wade Group. The intent of this joint work is 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. (Tweet This) “Our streamlined 401k 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. Such integration:
1. Helps employees view the HSA more like a retirement account for their health
2. Provides single sign on (SSO) experience and displays 401k balances in the HSA portal
3. Increases retirement related messaging and notifications to participants
4. Improves 401k 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.”
As a result of early successes with these partnerships, BenefitGuard is expanding business development initiatives with benefit providers on a national scale similar to its previous national expansion with financial advisors.
BenefitGuard, LLC offers a low-cost 401(k) solution for small to mid-size businesses. BenefitGuard uniquely appoints professional fiduciaries to sign and act in administrative and investment fiduciary roles to dramatically reduce fees for employees and fiduciary risk and work for employers. Through a network of best-in-class partners, BenefitGuard provides cloud-based recordkeeping, payroll-integration, third party administration, custodial, advisory, and full fiduciary services. 401(k) plans are sold directly to employers and by financial advisors, payroll providers, HSA providers, benefits brokers, and other professional service firms. BenefitGuard was founded in 2010 and is headquartered in Orem, Utah.
John Pilmer, PilmerPR