Frequently Asked Questions
Answers to the questions we hear most from employers evaluating their benefits strategy.
About BSP & How We Work
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Many brokers show up at renewal, run a quote, and disappear until next year. BSP works differently. We're an independent employee benefits consulting firm — not tied to any single carrier or product. We dig into your benefits utilization, compliance gaps, policies, and business goals before we touch a plan design, and we stay engaged year-round. You get a strategic partner, not a transactional vendor.
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Yes. BSP is a privately owned, independent benefits consulting firm. That independence means our recommendations are driven by what's best for your company — not by carrier incentives or product quotas. We also have access to national-scale tools and carrier relationships through our membership in TRUE Network Advisors, so you get boutique service with the reach of a national firm.
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We work primarily with mid-market employers that have outgrown a basic broker relationship and need more strategic support. Whether you're a founder-led business, a privately held company, or a growth-stage firm scaling quickly, we build around where your company is headed.
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We work across a wide range of industries including biotech and life sciences, manufacturing, energy and oil & gas, cannabis, higher education, nonprofits, recycling and waste management, healthcare, professional services, technology, hospitality, construction, and private equity portfolio companies. We bring sector-specific insight and industry benchmarking rather than a one-size-fits-all approach.
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TRUE Network Advisors gives BSP access to expanded tools, compliance support, plan design innovation, national benchmarking, and peer collaboration — all while maintaining our independent, relationship-driven approach. For clients, that means stronger insights, better carrier leverage, and access to resources typically reserved for much larger firms.
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It's a straightforward conversation — no sales pitch. We'll ask about your current benefits setup, what's working, what's not, and where your business is headed. From there, we'll give you a candid assessment of what we see and whether BSP is the right fit.
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We start with a complimentary benefits audit. We review your existing plans, contracts, costs, utilization data, compliance posture, and workforce goals. We then use industry-specific benchmarking to identify where plans can be improved, where gaps in coverage exist, and where you may be overpaying. That audit gives us — and you — a clear picture of where things stand and where there's opportunity.
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No. The complimentary audit is how we determine fit and identify opportunities. There's no obligation attached.
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That depends on the complexity of your current setup, but transitions usually range from a week to 60 days. We manage the full transition — carrier coordination, employee communication, platform setup — to keep things seamless for your team.
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Yes — whether you're separating from a PEO or considering entering one. For companies leaving a PEO, we've managed successful transitions — in one case helping a 35-employee manufacturer set up benefits that were 30% lower in cost while giving the company greater control over HR and benefits during a period of dual mergers and acquisitions. For companies considering a PEO, we evaluate multiple PEO options on your behalf — the same way we evaluate multiple health insurance carriers rather than showing you just one. Many companies make the mistake of looking at a single PEO. We help you compare so you make the right decision.
Getting Started
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We work across the full range — fully insured, level-funded, self-funded, ICHRA, and direct primary care (DPC) plan strategies. We evaluate which approach fits your workforce, risk tolerance, and budget, rather than defaulting to one model.
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Through a combination of plan design optimization, funding strategy analysis, renewal negotiation, strategic point solutions, and ongoing utilization review. Our clients regularly see significant savings while maintaining or enhancing their coverage — from reducing renewal increases by nearly 20 percentage points, to cutting dental and vision costs by up to 30%, to achieving double-digit savings on medical premiums through strategic carrier changes. Every situation is different, but the pattern is consistent: smarter structure, not less coverage.
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Most brokers plan year to year. BSP builds multi-year strategies that align your benefits with your broader business goals — growth plans, retention targets, compensation philosophy. This approach gives you predictability, avoids reactive decision-making, and positions your benefits as a genuine competitive advantage.
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Yes. We've designed programs for companies with employees spread across every state, ensuring consistent plan choices, equitable contributions, national network access, and consistent communication regardless of location. Our benefits administration platform supports employees wherever they are, and we structure plans to work across your entire workforce — not just headquarters.
Plan Design & Cost
Compliance & HR Support
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We support ERISA compliance, Section 125 cafeteria plan administration, ACA reporting, and benefits-related risk management. Our approach is proactive — we use tools like customized compliance calendars and ongoing monitoring to keep you ahead of regulatory changes, not scrambling to react to them.
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Both. Through our partnership with Mineral, clients get access to real-time, certified HR support — including live HR experts, compliance guidance, job description templates, performance review tools, and over 200 online training courses. We also offer outsourced HR services for companies that need more hands-on support without adding headcount.
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Mineral provides on-demand HR and compliance support — live certified HR professionals, state-specific compliance guidelines, training courses, webinars, and a regularly updated resource library. BSP clients receive access as part of their engagement. Contact us and we'll walk you through how to get set up.
Technology & Administration
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Yes — and at no additional cost. We offer multiple technology-based benefits administration platforms, and clients choose the one that best fits their needs. The platform handles enrollment, onboarding, employee communication, data management, and carrier file transfers — all in one place. If you prefer to use your existing payroll provider for benefits enrollment, we can work with that too. Across our client base, implementing the platform has consistently streamlined administrative burden and improved employee engagement with their benefits.
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Manage benefits year-round, onboard new employees through a self-service option before their first day, consolidate HR and benefits information, automate data file transfers to carriers, and give employees a clear, flexible enrollment experience. For companies with multiple locations, the platform ensures benefits and costs are communicated consistently across every site.
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Yes. BSP provides the platform at no cost to clients — no minimums, no conditions. It's part of how we help you reduce administrative burden and improve efficiencies.
Referral Partners
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We partner with trusted professionals — accountants, bookkeeping firms, attorneys, HR consultants, financial advisors, retirement plan specialists, banking professionals, and others — who refer clients to BSP for employee benefits expertise. When our clients need services outside our core competency, we connect them with our carefully curated partners. Every referral is treated with premier service, and partnerships are built around a shared commitment to client outcomes.
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No. BSP does not receive financial compensation for referrals to our resource partners. Any fees charged by those providers are handled directly between the client and the service provider.
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Through our USA500 membership, clients have access to vetted professionals across bookkeeping, accounting, outsourced CFO, banking, HR consulting, retirement planning, business insurance, attorneys (ERISA, employment, immigration), PR and marketing, and more.
Travel & International Benefits
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Yes. We provide access to a range of travel protection and medical insurance options — individual, family, business, student, group, and adventure travel plans through providers like IMG, GeoBlue, Cigna, Seven Corners, Tin Leg, Berkshire Hathaway, and WorldTrips. Plans can be purchased directly online through our site.
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Yes. We partner with a premier international benefits consulting firm to support clients with international subsidiaries or global offices. Services include an initial audit and due diligence, along with ongoing support for understanding and managing locally placed employee benefits — which can be especially complex for companies unfamiliar with local benefits structures.
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Yes. We provide complimentary access to a dedicated benefits professional who specializes in Medicare education and enrollment. They help employees understand how employer coverage interacts with Medicare, evaluate available options, and enroll in the most appropriate plans.
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No. This is a complimentary service available to employees of all clients whose benefits BSP manages.
Medicare
Still Have Questions?
We're happy to talk through anything that's on your mind. No pressure, no jargon, no obligation — just a candid conversation about your benefits.