Wells Fargo Insurance Services Delivers
Robust insurance options (medical, dental, life, etc.) at reasonable prices are benefits that significantly improve employee hiring, morale, and retention. Even before the Affordable Care Act (ACA), selecting and managing these benefits were time-consuming tasks. That’s why choosing the right insurance broker is so critical to business success, especially for organizations without dedicated human resources specialists.
When Paradigm decided to expand its medical insurance options, we looked at several brokers before selecting Wells Fargo Insurance Services (WFIS). With employees in several states, Paradigm needed a firm that would make sure that each plan complies with each state’s standards.
Our plans also had to offer excellent coverage to all employees. "We were feeling overwhelmed by the ACA and the new requirements for health insurance," said Betsy Bentz, Paradigm CEO. "At the same time, we wanted to give our employees excellent and affordable options." That’s where WFIS came in. Mark Coulombe, Senior Vice President & Team Leader, and Gary Moore, Sr. Account Executive, at WFIS helped Paradigm design a plan to meet all of Paradigm’s concerns and requirements. Although Paradigm’s focus was compliance with health care reformrequirements, we rolled out a comprehensive employee benefits program that included viable, affordable medical/health plan options for employees. "The response from employees has been so positive," Bentz said. With a successful rollout behind them, Paradigm management and employees remain satisfied with the decision.
Recently I spoke with Gary and Mark to find out more about their services and how WFIS can help organizations offer insurance benefits to their employees.
What options does Wells Fargo offer businesses for health insurance? We tailor programs to fit each client’s specific needs. The programs can consist of fully insured, self-insured, partially self-insured, or private exchange/marketplace. Wells Fargo is appointed with all carriers and licensed in all 50 states.
How long have you been offering these services? Wells Fargo has been offering these services for about 20 years. Our services have also expanded through merging of regional brokers, giving Wells Fargo a well-trained staff of experienced professionals.
What’s the business community’s reaction to your services been like? It’s been positive! The business community has been responsive to our services, especially knowing that we are a full-service national broker with reach beyond the state of California and particularly with Wells Fargo bank clients. The community’s also been very responsive to our compliance expertise. We are being asked to conduct ACA seminars and participate in professional conferences in the private and public sector, as well as in the Native American community.
What size organizations does Wells Fargo serve? We primarily serve groups of under 1,000 individuals, but can also provide service for groups as small as 20 employees. The majority of organizations are multistate, so different state laws and mandatory requirements need to be taken into account.
In your experience, what are most business looking for in a health insurance consultant? Affordability is always big factor, but one of the main concerns for today’s businesses is compliance. Organizations want to have a proactive consultant or brokering team available to support them in the professional marketplace.
Do organizations need to have a Wells Fargo banking account to use its health insurance services? No, customers from other banks can take advantage of Wells Fargo’s insurance services; they’re independent of one another.
How do most people find out about your services? Sometimes it’s from word of mouth, but most people find out about it through Wells Fargo banking account services. That’s how Rick and Betsy found out about the insurance services, and they were able to work with Mark early on.
Rick Scheiner, Paradigm President, summed up the experience, "Working with Wells Fargo has been a real pleasure. The people in this organization are fantastic and have exceeded all our expectations."
To contact Well Fargo Insurance Services about getting services for your own businesses, contact Gary and Mark at email@example.com and firstname.lastname@example.org.
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