First Watch, like many other growing employers, offered a single medical plan appropriate to only a narrow segment of their wage population. They also did not offer a consumer-driven option. FBC recommended we ladder the medical plan options to allow a broader fit of the wage levels and introduced a Health Savings Account with an appropriate level of employer funding to encourage wise use of health care and complement retirement levels. We also structured in a tax advantage savings element. FBC felt this would resonate with the “wellness as a business strategy” approach we advocate to all our clients.
FBC also correctly structured an Affordable Care Act compliant plan option to allow hourly employees to comply with the individual mandate provision of the ACA. In subsequent years, we redesigned the disability plans to adequately meet the needs of those employees who serve the customers of First Watch, further integrating our wellness strategy. We are presently expanding the menu choices on the benefit platform to be sure we offer a “You First” employee environment for the company.