Construction

This week I want to continue my Industry Series and highlight the Construction Industry, which we do very well in by offering solutions for the employees and helping the Employee Benefits advisors that work with these types of companies.

According to Zippia.com, these are current statistics from the industry. There are well over 800,000 employees legitimately employed at construction companies, and the average salary in most states is just under $30,000. A couple of States pay higher, for example, New York, which has an average salary of around $46,000, but for the most part, the average wage in America is about $30,000 a year.

Let's consider this scenario we are currently in, where most employees cannot afford a regular, fully-insured health plan. The premiums tend to be too high for their income to justify the cost. Typically, they probably can only afford a Bronze plan at that average salary, so it doesn't make sense to have the more expensive health plans.

Many of these construction companies fall into being applicable large employers and then get penalized because they have well over 50 employees. Still, they can't get a proper health plan in place or prove that they have offered minimum essential coverage at that status.

So there's another scenario that construction companies find themselves in, and that's a prevailing wage scenario. Luckily at Evolved Benefits, we can partner with you on these affordable health plans and ensure that you are ACA compliant. Specifically, we can partner with you in a prevailing wage scenario in the construction space and offer you and your clients prevailing wage consulting. We have an in-house company called Prevailing Wage Partners, and this incredible team of women is the best in the business. They have unique proprietary software that is an excellent value to the employers that end up using our services, and they provide a great value. Many brokers locally in San Diego partner with them because they work with construction companies and understand the prevailing wage. They work with prevailing wage partners to ensure that part's done right.

So all around in the construction industry, I believe we provide a great solution. We are a solid partner; if these are the type of industries you're going after, or if you are one of those employee benefit advisors that's very frustrated that every group you try to reach out to has a single-digit renewal, they're not going to move. Your value proposition isn't enough to move the needle. Then I would consider reaching out to me and jumping on a call to learn how you can best serve this industry and others.