GBA 1 Study Guide (CDGBA1G22) Current Edition New for 2022
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This course is required to earn the following Designations: GBA CEBS.
GBA 1 Course Description
A purpose-driven benefits plan is a critical success factor in a total compensation strategy aimed at recruiting and retaining employees in today’s global and mobile talent market as benefits can be a compelling differentiator in meeting workforce expectations for security, choice and personalization. Effective benefits plan management is increasingly important.There is no single approach. The structure of the plan management function will reflect the plan sponsor’s unique context, considering its business strategy, specific talent needs and competition and broader compensation practices. The scope of related benefit plan management activities needed will also reflect benefit-plan specific factors such as group size, coverage comprehensiveness and complexity, whether benefits are insured, legislative requirements and the service providers engaged by the plan sponsor. However, there are key concepts, principles, and processes to apply.
GBA 1 provides a framework of concepts, principles and processes that is transferable to varying types of plan sponsor contexts. It offers a strategic approach for evaluating benefit needs and selecting an appropriate mix of life and health benefits from the continuum of options available. Financial and premium rate setting considerations essential to managing plan sponsor financial risk and factors impacting bets fit administration decisions are covered. Roles of insurers and other specialized service providers, such as third-party administrators and employee assistance professionals, in supporting effective benefits plan management are explored. Text-based reading is supported with tax guidance and industry-based practice guidelines regarding coordination of benefits, as well as insurer sales guidelines and advisor disclosure guidelines intended to protect the plan sponsor in the marketing process. Applications are illustrated in numerous case studies.
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