 |
Brokerage and Consulting Services
- Meet with organization’s benefits and finance personnel to determine objectives for all benefit plans (i.e. medical/drug coverage; dental coverage, life coverage and disability coverage). Establish a timeline for completing the renewal process for all benefit plans.
- Complete an assessment of benefit levels within all plans, carrier contracts, and administrative service contracts. Provide feedback on assessment with recommendations on plan design, PPO discount analysis, and any available benchmark data.
- Develop streamlined reporting for organization’s medical/drug, dental, and/or short term/long term disability plans. Meet with benefits and finance personnel on a scheduled basis dictated to review the plan’s financial performance and/or other related employee benefit issues.
- Negotiate annual renewals for disability, life, medical/drug and dental plans. Renewal negotiations and any analysis to be delivered at least 60 days prior to the beginning of each year or according to established timeline.
- Complete market review/bid process to determine if the benefit plans remain in line with employer objectives and are benefit and cost competitive. Evaluate carrier proposals submitted in response to the RFP. Develop a report summarizing responses to the RFP. The report will include an analysis of proposed benefit structures and funding arrangements.
- Meet with designated representatives to review the results of the market review process. Provide recommendations regarding benefit structures, funding and carrier/vendor quality.
- Assist organization with annual budgeting process for the life, disability, medical/drug and dental plans. For self-funded plans, we will also provide underwriting services for development of annual premium equivalency rates for funding the plan and IBNR reserve estimates. Assist with the development of employee and employer contribution rates.
- Review current plans and suggest alternative plan designs to reduce cost and improve the value of your benefit programs. These alternate plan designs include HRAs and HSAs. Our process utilizes the most creative and innovative methods available in the market, combined with our significant leverage as the region’s largest benefits broker.
|
 Client Services
|
