Tidewater Financial Group

Against the backdrop of the rising healthcare and insurance costs, companies, irrespective of the industry, are struggling to provide benefits to their employees in the most economical manner without compromising on employee satisfaction. On the other hand, most employees are unaware of the nuances of their insurance and benefit plans and are unable to take full advantage of them, especially during reimbursements. Therefore, there arises a need for an organization that can help employers select the most economical benefits plans and render insights to the workforce about leveraging them the right way.

Enter Tidewater Financial Group!

Understanding the uniqueness of every employer and employee, Tidewater FG provides its clients customized benefit plans, and services pertaining to benefits administration, HR compliance, and payroll administration. The company put business leaders and managers in the driver’s seat and empower them to make decisions regarding employee welfare through a multi-pronged approach. For starters, Tidewater FG conducts one-on-one engagement with clients’ employees, imparting clarity and awareness about their medical and insurance plans. Tidewater FG’s experts, in this regard, are just a phone/video call away for any of their clients’ employees.

Secondly, Tidewater FG has ensured that the benefits and insurance plans they offer covers 21 chronic and critical diseases (including diabetes, and heart conditions) that they’ve identified are prevalent among today’s workforce. In addition, the organization also provides concierge services that assist employees suffering from such diseases to recover and stay healthy, leading to fewer sick days in work and thereby lower claims.

Tidewater FG leverages the best of tech and simplifies employee benefits management by providing clients with a cloud-based employee benefits administration system that comes fully integrated with the different insurance plans. Both employers and employees can go to the same website to view benefits and retrieve the necessary information, brochures and certificates. This simplifies the insurance plan subscription process. The system also integrates with the employer’s payrolland HR systems. With real-time data and reports on the insurance and healthcare market, users can leverage the system to better decide on the type of plan they want to take.

With a collective experience of over 70 years in employee benefits and insurance fields, Tidewater FG works in an advisory capacity for its clients. For instance, while selecting employee insurance plans, Tidewater encourages its clients to opt for level-funding insurance instead of getting fully insured. Since the premium is set in level-funded insurance cases, partners tend to get 50-90 percent more in terms of premium refunds in the event of a good year when the no. of claims is significantly low.

Tom Botts, Managing Partner at Tidewater FG states, “At the end of the day, our clients are the boss; they pay our bills. As such, we are married to their needs, and not to any carrier,” Holding true to that, the organization, in its benefits plans, makes sure that even the Pharmacy Benefits Manager works in the best interest of its client, a trope that is not much prevalent in the industry. In addition to offering employee benefits and insurance, Tidewater FG also addresses clients’ compliance needs around benefits management. Evidently, the organization is highly dedicated to offering streamlined employee benefits solutions customized for every client, helping them unlock lower, sustainable, and pro-employee cost of care.