Pub. 7 2018-2019 Issue 2

20 San Diego Dealer Q: How does your dealership measure up? A: An attractive benefits program is vital for your recruiting and retention efforts, but it is also a significant expense. We can provide youwith quality benchmarking data that allows you to analyze how other dealerships are structuring their plans, as well as the strategies they are using to cut costs, which may help make your own benefit plan decisions easier. Q: What do most dealerships pay towards employee medical premiums (based on the lowest cost plan option)? A: This varies greatly between dealerships. Most dealerships pay 70-100% of the lowest cost plan. Although this was themajority, some dealerships pay slightly less at approximately 60% (our benchmarking data outlines this clearly with a graph illustrating dealership percentages). Q: Do dealerships offer ancillary benefits and what do they offer? A: Most dealerships offer ancillary benefits. Almost all offer dental, approximately 63% offer vision and 88% offer a life program, while fewer offer disability benefits. Q: Do dealerships offer any kind of retirement benefits? A: Most dealerships do offer retirement benefits. Of those that do, appoximately 90% offer a 401k plan. Q: Are you curious about how other dealerships are responding to rising health care costs? A: Knowing howother dealerships are addressing their benefits decisions can allow you to anticipate the shifting benefits landscape and evolve before your competition responds. We can provide you with data on how rising health care costs are affecting other dealerships. Q: What were the dealerships top areas of concern? A: Not surprisingly, the #1 concern was the cost of healthcare. The others ranked by importance were; 1. Maintaining a competitive employee benefit program. 2. Attracting and retaining top talent. 3. Compliance with Labor Laws. 4. Compliance with Health Care Reform. 5. Employee Communications – ensuring employees understand and appreciate benefits. 6. Benefit Administration –managing open enrollment and onboarding new hires. 7. Healthplan network of providers. 8. Wellness initiatives. If your dealership would like a copy of this CNCDA/EPIC benchmarking report, EPIC would be pleased to provide this to SCNCDA members at no cost. Whether you are curious about how your HR technology, life insurance or voluntary benefits stack up, we have the benchmarking data available. EPIC ranks among the top 15 retail insurance brokers in the United States and is the largest insurer of auto dealers in the state. “AskAlison” is a regular feature toour quarterly newsletter. Alison McCallum has been in the employee benefits industry for over 20 years. She is a Principal with EPIC insurance Brokers and Consultants, the only CNCDA licensed broker. With this partnership EPIC offers unique services available to SDNCDA dealer members at no cost. If you have questions or would like further informa- tion please feel free to contact me at (949)417-9136 or alison.mccallum@epicbrokers.com . DEALERSHIP BENCHMARKING IN COORDINATION WITH THE CNCDA, EPIC CONDUCTED A 2018 STATEWIDE, CONFIDENTIAL DEALERSHIP BENEFITS SURVEY. A NUMBER OF TOPICS WERE ADDRESSED THAT WE FELT WOULD BENEFIT OUR CALIFORNIA DEALERS - HOW DEALERSHIPS COMPARE IN AREAS SUCH AS CONTRIBUTION AMOUNTS, PLAN TYPES, PLAN OFFERINGS, DEDUCTIBLE, OUT OF POCKET MAXI- MUMS AND CARRIERS.