All MBS services can be considered in a bundle or individually, depending on what satisfies the business needs.
What is Pharmacy Benefits Management?
Pharmacy Benefit Management (PBM) is like a middleman for your employee prescription drug plans. They negotiate drug prices and manage pharmacy networks to keep healthcare costs under control for your business.
Problem
While PBMs promise lower drug costs for your employee health plan, the lack of transparency in their pricing can leave you wondering if you’re truly getting the best deal for your business and your employees’ well-being.
Solution
Are you feeling uncertain about murky PBM pricing and worried your employees aren’t getting the best prescription deals? MBS offers clear, cost-effective pharmacy benefit management solutions that put you in control, prioritizing both your budget and employee health.
FAQs
Q: How much can a business save by carving out pharmacy benefits? A: Businesses typically save 20-40% on pharmacy spending through carve-out strategies. One of our clients, a technology company with 720 employees, saved 28.3% ($226,705) in their first year alone through our tailored PBM solution.
Q: What’s the difference between bundled and carved-out pharmacy benefits? A: Bundled pharmacy benefits are included with your medical insurance, often with limited transparency and negotiating power. Carved-out benefits separate pharmacy from medical coverage, allowing for specialized management, clearer contracts, and significant cost savings while maintaining or improving employee coverage.
Q: Who manages specialty medications in a PBM carve-out? A: In a PBM carve-out model, specialty medications are managed through our proactive pharmacy consulting services, which implement comprehensive clinical programs, patient engagement strategies, and accumulator programs to secure the lowest prescription prices and reduce costs for expensive health-related treatments.
What is Employee Benefits?
Employee benefits are basically perks employers gives employees on top of their salary. They’re like extras that show employers value their employees. They can help employees save money, stay healthy, and have a better work-life balance.
Problem
Are you feeling overwhelmed by ever-changing benefits, costs, and impersonal service? You want to offer competitive benefits to attract top talent, but navigating the complex benefits landscape is a nightmare. Traditional providers often disappear after enrollment, leaving you with generic renewal rates.
Solution
At Merritt Business Solutions (MBS), our experts stay ahead of the curve, uncovering cost-saving strategies and fighting for the best possible deals on your behalf. Unlike impersonal computer systems, MBS offers a personal touch. We become your trusted partner, ensuring a smooth-running benefits program that keeps your employees happy and your business thriving. Schedule a free consultation today and let MBS simplify your benefits – all while keeping your current plan options at no additional cost.
FAQs
Q: What type of health insurance is best for a small business with 10-50 employees? A: For small businesses with 10-50 employees, the optimal health insurance solution depends on your specific workforce needs and budget constraints. At MBS, our expert consultants evaluate both traditional group plans and innovative alternatives like ICHRAs and QSEHRAs, creating a customized benefits strategy that balances comprehensive coverage with cost efficiency while maximizing available tax advantages for your unique business situation.
Q: What’s the difference between a health insurance broker and a benefits consultant? A: While most brokers simply present insurance options, our concierge approach combines both roles—we not only connect you with the right health insurance providers but also provide ongoing consultation, benefits education, employee claim support, and advocacy throughout the relationship to ensure your benefits program meets your business goals.
Q: How can businesses reduce employee benefits costs without reducing quality? A: Our concierge approach to benefits management helps businesses reduce costs while maintaining or improving quality through strategic plan design, alternative funding models, prescription cost management, and employee education. We focus on the entire value equation, not just the premium price.
Our Full-Service Benefits Menu Includes:
What is Fractional HR?
Fractional HR is like having a business coach for your people department (HR). They’re experts in all things employee-related, and they can help your company with stuff like: Making your HR department run smoother, Staying on top of employment laws and so much more!
Problem
Feeling bogged down by confusing HR regulations and paperwork? You might not be sure exactly what’s causing the low morale and turnover. Is it the workload? Compensation? Lack of clear career paths?
Solution
Merritt Business Solutions (MBS) is like your HR doctor. We perform a full checkup to identify any weak spots and ensure compliance. We’ll help you build a strong HR infrastructure, from communication strategies to effective processes. But that’s not all! MBS provides ongoing support with training programs, expert advice, and HR management services tailored specifically to your business needs. Let MBS take care of HR so you can focus on running a successful business with happy employees. Schedule a free consultation today!
FAQs
Q: What is fractional HR, and how does it work for small businesses? A: Fractional HR provides professional human resources expertise on a part-time or project basis without hiring full-time staff. Our concierge fractional HR team becomes your in-house HR partner at a fraction of the cost, handling compliance, policies, recruiting, and employee relations. At the same time, you focus on growing your business.
Q: What HR functions can be outsourced to a fractional HR service? A: Our concierge fractional HR services cover all essential functions, including compliance, employee relations, policies and handbooks, recruiting, performance management, compensation strategy, benefits coordination, and workplace culture development—all tailored to your business needs.
Q: When should a business hire a full-time HR person versus using fractional HR? A: Traditionally, businesses considered hiring full-time HR at 50+ employees, but our concierge fractional model has proven effective for companies with hundreds of employees. We provide specialized expertise across multiple HR disciplines that a single in-house person can’t match, often delivering better results at lower cost regardless of company size.
We Give Your Business A HR Check Up/Diagnostic Approach to Ensure Compliance
What is an HR Startup Package?
HR Startup is a specialized package for new businesses with five or fewer employees. It provides essential HR foundations when you’re just starting, so you don’t have to figure out complex employment requirements while also launching your business.
Problem
Starting a business is overwhelming enough without worrying about employment paperwork, legal compliance, and creating the right workplace culture. Many founders waste valuable time on HR tasks instead of growing their business, and small mistakes now can lead to big problems later.
Solution
From day one, Merritt Business Solutions provides everything your startup needs to build proper HR foundations. We’ll set up the essential systems and documentation that protect your business and help you attract great talent. Our HR Startup package gives you big-company HR expertise at a price that works for your new business. Let us handle the people’s paperwork so you can focus on your brilliant business idea!
FAQs
Q: What services do HR consultants provide for small businesses? A: Our concierge HR consulting provides tailored support across all human resources functions, including compliance audits, employee handbook development, policies and procedures, compensation strategies, recruiting assistance, and performance management systems—all designed specifically for your business needs.
Q: How can HR consulting improve employee retention? A: Our concierge HR consulting improves retention by implementing strategic approaches to compensation, career development, performance management, and workplace culture. We analyze your retention challenges and design targeted solutions that enhance employee engagement and satisfaction.
Q: What HR issues should startups address first? A: Startups should prioritize establishing compliant employment practices, clear compensation structures, effective hiring processes, and basic HR infrastructure. Our HR Startup package is specifically designed for companies with five or fewer employees, creating a strong people management foundation supporting sustainable growth.
We Give Your Small Business The Right HR Start
What is a Professional Employer Organization (PEO)
A Professional Employer Organization (PEO) is basically a company that helps small businesses with all things employee-related, like a one-stop shop for HR (Human Resources).
Problem
Are you feeling like you’re running in circles managing payroll, HR, and compliance on top of everything else? We partner with businesses to leverage Professional Employer Organizations (PEOs), freeing you from those burdens and lowering costs.
Solution
Imagine focusing on growth strategies while MBS takes care of your employees – that’s the power of a 7-9% faster growth rate and a 10-14% reduction in turnover. Let us be your partner in success.
FAQs
Q: When joining a PEO, can a business keep its current health insurance? A: When joining a PEO, businesses absolutely can maintain their current health insurance plans if preferred. However, most organizations ultimately transition to the PEO’s master policy to leverage significant cost savings and streamline administration through consolidated invoicing. This strategic shift allows companies to not only preserve quality coverage for employees but also gain the operational efficiencies that make PEO partnerships particularly valuable for businesses.
Q: What’s the difference between a PEO and HR outsourcing? A: A PEO establishes a co-employment relationship, becoming the employer of record while providing comprehensive HR solutions including premium benefits and shared liability, whereas HR outsourcing simply delivers specific HR services you select à la carte while your business maintains full employer status and responsibility, offering greater flexibility but without the cost advantages and complete integration that PEOs provide. As your concierge broker, we help determine which model best fits your business based on your needs, size, and growth plans.
Q: What is a PEO, and how does it benefit small businesses? A: A Professional Employer Organization (PEO) allows small businesses to outsource employee management tasks, including payroll, benefits, HR, and compliance. As your concierge broker, we connect you with the right PEO solution that fits your specific needs, helping you access Fortune 500-level benefits and HR support at a fraction of the cost.
What is a Employer of Record Service (EOR)
An employer of record (EOR) is like a middleman for hiring someone. Instead of your company directly employing someone, the EOR becomes their legal employer on paper.
Problem
Global expansion is exciting, but managing legalities and HR in new markets can be a headache. We get it. That’s where we come in.
Solution
Our Employer of Record (EOR) services act as your legal employer overseas, handling payroll, HR compliance, and contracts. Focus on growing your vision; we’ll handle the global hiring hassle. Expand faster, smarter, and with reduced risk. Let’s unlock your international potential.
FAQs
Q: How does an EOR help businesses hire internationally? A: An EOR enables international hiring without establishing foreign entities by serving as the legal employer in target countries and handling local compliance, payroll, benefits, and taxes. Our concierge service connects you with specialized EORs for your specific global markets, ensuring compliant hiring while you maintain day-to-day work direction.
Q: Can an EOR hire both employees and contractors? A: Comprehensive EOR services can manage traditional employees and independent contractors, ensuring proper classification and compliance in each category. Our concierge service connects you with EORs that provide flexible workforce solutions, helping you navigate the complexities of worker classification across different jurisdictions.
Q: What is an Employer of Record (EOR), and how does it differ from a PEO? A: An Employer of Record (EOR) becomes the legal employer of your workers, assuming all employment responsibilities and liabilities. Unlike a PEO’s co-employment model, an EOR takes full legal responsibility. Our concierge approach helps determine whether an EOR or PEO better suits your situation, considering factors like geographic reach, compliance needs, and business structure.
MBS Matches Clients with PEO/EOR Services For:
What is HR Technology Software (HRIS)/ Payroll Services?
Basically, HRIS keeps all your employee information organized and accessible, while Payroll Services ensure everyone gets paid correctly and on time.
Problem
You’re the busy entrepreneur drowning in HR tasks like recruiting, onboarding, and managing PTO. These complexities steal your time and energy, keeping you from focusing on what truly matters – growing your business.
Solution
We are your guide, offering a powerful cloud platform. This all-in-one solution streamlines everything in HR, giving you back your precious time. Imagine hiring perfect candidates, seamlessly onboarding new hires, and automating tedious tasks. Let’s build your ideal work world together, where you can focus on your passion – growing your business.
FAQs
Q: Can payroll services handle multi-state employees and contractors? A: Yes, our recommended payroll partners expertly manage multi-state employees and contractors, handling varying tax requirements, labor laws, and compliance issues across jurisdictions. Our concierge service ensures you’re matched with providers equipped to handle your specific geographic needs.
Q: What’s the difference between payroll processing and workforce management? A: Payroll processing handles the mechanics of paying employees, while workforce management encompasses broader functions like scheduling, PTO, time tracking, and labor analysis. Our concierge approach evaluates your needs and recommends integrated solutions that streamline operations and provide valuable workforce insights.
Q: How do I transition from manual payroll to an outsourced payroll service? A: Transitioning to outsourced payroll can be daunting, but our concierge approach is simple. We manage the entire process, from selecting the right provider to data migration, system setup, and team training. Unlike standard brokers, we stay involved throughout implementation and beyond to ensure smooth operations.
MBS Offers Human Resources Technology (HRIS)/ Payroll Options Including:
What does Recruiting mean?
Recruiting is like building your dream team – you need the right players to win, but finding them can feel like an endless search through unqualified candidates.
Problem
Despite offering a competitive salary, your open positions are flooded with resumes, but none seem to possess the specific skills and cultural fit you need to make your business thrive.
Solution
Are you stuck sifting through a stack of resumes with no perfect match? MBS cuts through the noise, finding the ideal candidates with the right skills and cultural fit to propel your business forward.
FAQs
Q: How can businesses improve their hiring process and candidate experience? A: Our concierge recruiting services enhance your hiring process through professionally crafted job descriptions, consistent communication, structured interviews, and thorough candidate assessment. We implement best practices that reflect your company culture while delivering a professional candidate experience that strengthens your employer brand.
Q: What makes small business recruiting different from corporate recruiting? A: Small business recruiting requires finding candidates who can wear multiple hats, adapt to evolving roles, and thrive in close-knit environments—not just match skill checklists. Our concierge recruiting focuses on these critical cultural and adaptability factors determining success in smaller organizations.
Q: How do recruiting services work for small businesses? A: Our concierge recruiting services function as your internal talent acquisition team, handling everything from job descriptions and posting to candidate screening and interview coordination. We become an invisible extension of your company, so candidates experience a seamless process while you maintain control over final hiring decisions.
Do you need HR Training?
HR Training is like investing in your team’s tool belt. The better equipped they are with skills and knowledge, the more efficiently and effectively they can tackle any challenge your business throws their way.
Problem
You invest in employee HR training but need to improve productivity or customer service. It’s frustrating to spend money without a clear return on investment in your team’s skills.
Solution
Are you frustrated by HR training that doesn’t translate to results? MBS offers customized HR training solutions that equip your team with the skills they need to boost productivity, enhance customer service, and deliver a strong return on your HR training investment.
FAQs
Q: Is online or in-person HR training more effective? A: The effectiveness of online versus in-person training depends on your specific workforce, content, and goals. Our concierge approach evaluates these factors to recommend the optimal delivery method—hybrid, fully virtual, or in-person—ensuring maximum engagement and knowledge retention while respecting budget constraints.
Q: What types of HR training do small businesses need? A: Essential HR training for small businesses includes compliance (harassment prevention, discrimination, safety), management skills, workplace culture, and performance management. Our concierge approach assesses your needs and culture to deliver customized training programs that address your unique challenges rather than generic solutions.
Q: How much does employee harassment prevention training cost? A: Harassment prevention training typically costs $20-$100 per employee, depending on delivery method and customization. Our concierge approach finds cost-effective solutions that meet your specific state requirements while reflecting your company culture, often delivering better results at lower costs than generic off-the-shelf programs.
What is 401K?
There are a few different types of 401ks, but the basic idea is the same: it’s a way to save money for retirement with some tax benefits to help your money grow bigger.
Problem
The biggest headache employers face when setting up a 401k for employees can be summed up in one word: complexity. Here’s why: Lots of Rules, Keeping it up to date, Choosing the Right Plan and Admin Hassle.
Solution
MBS can be of help! We partner with businesses to provide affordable, tailored 401(k) solutions. Unlike expensive, one-size-fits-all plans, ours is built for your specific needs. Employees receive personalized investment advice from a trusted advisor, ensuring access to the right options for their future. Schedule a free consultation and let MBS simplify your 401(k) – attract top talent and empower your employees to save for retirement the easy way.
FAQs
Q: How can small businesses offer 401 (k) plans to employees? A: Small businesses can offer competitive 401 (k) plans through our concierge broker service. We connect you with providers who deliver personalized investment advice from SEC-Registered Investment Advisers who act as fiduciaries, giving your employees access to Fortune 500-level retirement benefits at a fraction of the cost.
Q: Can part-time employees participate in a company 401 (k) plan? A: Recent legislation has expanded part-time employee eligibility for 401 (k) plans. As your concierge benefits partner, we help navigate these requirements and design inclusive retirement options that work for your entire workforce, including part-time employees, while ensuring full compliance with current regulations.
Q: What are the tax benefits of offering a 401 (k) to employees? A: Offering a 401 (k) provides several tax advantages: businesses can deduct contributions to employees’ accounts, receive tax credits up to $5,000 for startup costs, and qualify for additional credits through the SECURE Act. Our concierge service ensures you maximize these tax benefits while providing employees with valuable retirement options.
Our 401K Service Includes
What is Short Term Funding?
Short-term funding is borrowing money for a short period of time, kind of like asking a friend for a small loan until your next paycheck. It’s used to cover temporary needs for a business like payroll and is meant to be paid back quickly.
Problem
Unexpected expenses got you stressed? Short-term funding can help bridge this gap. You can take out a short-term loan to cover your immediate expenses (rent, payroll) while you wait for the sales to come in. This way, you can capitalize on this opportunity and keep your business running smoothly.
Solution
MBS can be your financial hero! We offer a unique urgent loan option perfect for any business need. Get the funds you need fast, and choose to repay them immediately or over time. Unlike slow, traditional loans, ours are quick and easy to access. Schedule a free consultation and let MBS help you weather any financial storm – keep your business running smoothly, no matter what.
FAQs
Q: What types of short-term funding options are available for small businesses? A: Small businesses can access various short-term funding solutions, including business lines of credit, merchant cash advances, invoice financing, and bridge loans. Our concierge approach evaluates your cash flow needs and business situation to recommend the most appropriate funding options with favorable terms.
Q: What’s the difference between short-term funding and traditional bank loans? A: Short-term funding uses private capital, which typically offers faster approval, simpler applications, and more flexible requirements than traditional bank loans, though often at higher rates. Our concierge approach helps you evaluate the actual cost against the opportunity value, finding solutions that support your immediate needs while preserving your long-term financial health.
Q: How can short-term funding help manage seasonal business fluctuations? A: Short-term funding provides the working capital to navigate seasonal fluctuations, inventory purchases, or unexpected opportunities. Our concierge service helps structure these solutions to align with your cash flow cycles, ensuring you have capital when needed without creating long-term debt burdens.
Merritt Business Solutions is a Certified Women’s Business Enterprise and holds NGLCC Certification as an LGBTQ+ business.