Unbundled plans offer flexibility since the plan is designed on your terms. Unfortunately, the only way to keep administrative costs to a minimum is to work on them in-house. As a small business you'll most likely turn to a vendor that offers a bundled plan. Although they differ in name, insurance companies, TPAs, and banks will offer similar plans at comparable pricing. Mutual fund companies like Fidelity Investment, The Vanguard Group, and Oppenheimer are also popular picks simply because the well-known name can increase participation by employees.
Banks usually offer plans tailored towards larger companies.
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