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Podcast

Let’s Break It Down: Employee Benefits

By May 27, 2025September 12th, 2025No Comments
Let’s Break It Down: Employee Benefits - Episode 3 of The Accel Advantage Podcast with photos of Josh Budke and Jared Deines

Navigating Today’s Employee Benefits Landscape: Trends, Technology, and What Employers Need to Know

In the latest episode of The Accel Advantage podcast, we sit down with Josh Budke, President of Benefits and Financial Services, and Jared Deines, Employee Benefits Advisor, for a deep dive into employee benefits. You’ll gain insights on everything from trends to financing options and how employers can better serve their teams through practical benefits administration.

The Importance of Employee Benefits

Benefits plans are typically the second-largest expense for a business, and they can often be overlooked. Josh and Jared break it down into two major categories: how they’re financed and how they’re administered.

1. Financing Employee Benefits

It’s important for businesses to understand options like:

  • Fully Insured Plans: Traditional, lower-risk plans offered by insurance carriers.

  • Self-Funded and Partially Self-Funded Plans: More risk and responsibility, but greater customization.

  • Level Funding: A hybrid model gaining traction in Iowa and the Midwest. It allows small and mid-sized employers to access cost savings by underwriting based on their group’s actual health data rather than being pooled with others.

Not all carriers are created equal. Jared and Josh emphasize the importance of evaluating both short and long-term impacts when choosing or switching carriers.

2. Administration of Employee Benefits

Once benefits are in place, smooth employee benefits administration is essential. A couple of ways employers can go beyond the basics are:

  • Education & Communication: Helping employees actually understand and value their benefits.

  • Technology in Benefits: Tools like Accel Navigator, a digital enrollment platform, empower employees and streamline processes for HR teams.

  • Quality Execution: Making the most of the tools and utilizing them is where the difference comes in.

Trends to Watch in Employee Benefits

Josh and Jared also highlight several emerging trends:

  • Total Compensation Statements: These help employees see the full value of their employment package, including benefits, retirement contributions, and paid time off, and are proven tools for attracting and retaining top talent.

  • Surveying Employees: More employers are asking, “What do our people actually want?” Gathering feedback is key to creating benefits plans that resonate and reflect the team’s values.

  • Technology Integration: With multiple generations in the workforce, tools that offer both mobile access and traditional communication methods can be crucial.

Whether you’re an HR leader or a small business owner, this conversation offers key insights on how strategic employee benefits programs can drive employee retention, support company culture, and more. Tune in to the full episode:

As Josh and Jared mentioned, don’t wait until renewal to review your plan! Reviewing your benefits strategy throughout the year can allow you to avoid a time crunch during a busy season. Get in touch with our team if you’re ready to reimagine your benefits strategy.

Read the accessible transcript (text version). We provide transcripts to ensure accessibility and a better user experience for all visitors.