The Job of an Employee Benefits Consultant

Brandon Guest, a seasoned health benefits specialist residing in Charleston, South Carolina, has more than 30 years of experience in the industry. In 1990, in Mount Pleasant, South Carolina, Brandon Guest founded his own benefits consultant firm, which he grew successfully for 21 years, beginning with only three employees and growing to more than 25 staff at its peak.

An employee benefits consultant has the job of helping their customers navigate the world of health benefits. With an overwhelming number of options for benefits in the country, employers often hire a consultant to help them figure out the best benefits package for their unique needs.

The role of an employee benefits consultant normally fits into a group setting, as there is a team of people who are tasked with researching benefit programs and compiling the information properly. This will include everything from what benefits are offered, overall costs, deductibles, and more.

To ensure that a client signs up for a benefits package that suits their needs, a benefits consultant must be a very studious researcher. They must examine the makeup of a company, its core philosophies, the needs of its employees, and any financial restrictions to make sure that the company gets what it needs. Navigating the world of employee benefits is not for the layman, and a benefits consultant is a must for most companies. 

Wharton School Offers CEBS Designation

Brandon Guest is an area president in South Carolina at Gallagher Benefits Services, Inc. A resident of Charleston, South Carolina, Brandon Guest has a number of certifications, including the Certified Employee Benefits Specialist (CEBS) designation from University of Pennsylvania Wharton School of Business.

In addition to the CEBS designation, the Wharton School offers employee-benefit specialists additional specialty designations. Since its launch in the mid-1970s, the CEBS designation has become one of the most respected in the industry, and up to this point, 14,000 people have earned it, and this mission to educate professionals in health and welfare plans is carried out through the addition of the Group Benefits Associate (GBA) and the Retirement Plans Associate (RPA).

The CEBS designation is a five-course program that is a comprehensive overview of employee benefits principles. The two additional designations-GBA and RPA-can be received after the person completes two additional examinations upon completing three courses related to directing benefits programs and strategic benefits management. These designations are granted by both the Wharton School and the International Foundation of Employee Benefit Plans.

 

IFEBP Highlights Effects of COVID-19 on Retirement Savings Choices

Brandon Guest is a South Carolina-based business leader who serves as an area president of Arthur J. Gallagher & Co., a subsidiary of Gallagher Benefit Services. Brandon Guest of Charleston, South Carolina is a member of the International Foundation of Employee Benefit Plans (IFEBP), an educational organization with more than 31,000 members worldwide.

In May 2020, the foundation surveyed employers to examine the effects of the COVID-19 crisis on employee retirement savings plans. The survey also sought to determine the impact of the pandemic on staffing and health care offerings.

According to IFEBP, 63 percent of employers have allowed employees to take COVID-19-related distributions from 401(k)s and other defined-contribution plans. Close to half have also increased loan amounts for these plans, albeit temporarily.

The survey also showed that many employers are increasing the number of mental health services included in their health plans, alongside telehealth services. Furthermore, over a third have increased the length of time included in prior authorization plans for prescriptions, while 29 percent have increased the quantity of prescription medication that is covered.

According to IFEBP Vice President Julie Stich, the long-term effects of COVID-19 are yet to be understood. However, employers are keeping their employees' best interests in mind. 

Employee Assistance Programs Available to Many American Workers

Living in Mount Pleasant, South Carolina, Brandon Guest helps businesses choose employee benefits at his company Boniface LLP. One frequent topic of Brandon Guest’s professional conversations in South Carolina is employee assistance plans (EAPs).

A growing number of businesses, especially large ones, give employees short-term access to counselors through EAPs. Bundled into their company health insurance, EAPs help workers deal with many issues, such as stress on the job, toxic relationships with coworkers, and addiction (essentially any problem that may hinder personal wellness or job performance). The contents of counseling sessions are legally required to be kept confidential from management.

Counselors listen to participants, identify areas of work, and provide coping tools. Mental health issues are often addressed, such as depression, inappropriate displays of anger, and anxiety. People having trouble caring for a sick relative, making ends meet, or experiencing money problems can also take advantage of the support.

More than 97 percent of American companies with more than 5,000 employees offer EAPs. That figure falls to 80 percent at the 1,000 to 5,000 level, and 75 percent in workforces of 251 to 1,000. These numbers have been climbing steadily for at least two decades.