Many people understand that public sector employees, whether they work for the federal government, state agencies or local municipalities, have excellent employee benefit plans. Their coverage is generally thorough and they aren't asked to pay exorbitant co-pays or high premiums. What isn't always understood, however, is why this is the case.
Public sector employees are usually members of large unions that can afford to collect dues and bargain as large collectives with major insurance carriers. They can also sign up as a group and defray some of the costs that would normally raise their premiums.
This puts private sector employers at a disadvantage because they can't offer the same benefits packages as a unionized public-sector organization. That is – if they don't contract the task of finding the appropriate benefits package to a specialist.
Employee benefit advisers are experts in the field of finding the best benefits in a number of different fields, including health, disability, wellness and retirement. They might lack the raw numbers and financial clout of a union, but they do make it their full-time job to fulfill all the needs of an employer and her employees under budget. Companies that have trouble competing with the public sector for workers should consider letting a benefit broker handle their benefit planning.
