Consulting Services
Finding the Best Employee Benefit
Solutions for Your Organization
At the start of a new client partnership, we take the time to learn more about your organization and the team members. By understanding an organization’s vision, mission, and culture, we can help to develop a benefits strategy that aligns with the corporate goals and strategy. This plan will come with detailed timelines, tasks, and deliverables for both our team and your Human Resources/Benefits team. We will conduct a comprehensive analysis of your current vendor arrangements to achieve the most effective selection process on your behalf.
Most organizations believe that their most valued asset is their people. A vital part of your organization’s well-being is the recruitment and retention of such employees. Using our data along with public information we can benchmark many key aspects of your plan against companies in your size range, region and most importantly, your industry. With this information you can shape your plans in a way to help attract and retain the best talent.
We will work with your Human Resources team to develop an open enrollment strategy that works best for your organization while making the process as seamless as possible for your employees. For some employers, an online enrollment system helps to streamline the entire process, but for others, paper forms are a preference. Whether you want to implement a full online process, paper forms, or a hybrid approach, our team will work with you to develop the most effective approach for your organization.
Finding the Best Employee Benefit
Solutions for Your Organization
At the start of a new client partnership, we take the time to learn more about your organization and the team members. By understanding an organization’s vision, mission, and culture, we can help to develop a benefits strategy that aligns with the corporate goals and strategy. This plan will come with detailed timelines, tasks, and deliverables for both our team and your Human Resources/Benefits team. We will conduct a comprehensive analysis of your current vendor arrangements to achieve the most effective selection process on your behalf.
Most organizations believe that their most valued asset is their people. A vital part of your organization’s well-being is the recruitment and retention of such employees. Using our data along with public information we can benchmark many key aspects of your plan against companies in your size range, region and most importantly, your industry. With this information you can shape your plans in a way to help attract and retain the best talent.
We will work with your Human Resources team to develop an open enrollment strategy that works best for your organization while making the process as seamless as possible for your employees. For some employers, an online enrollment system helps to streamline the entire process, but for others, paper forms are a preference. Whether you want to implement a full online process, paper forms, or a hybrid approach, our team will work with you to develop the most effective approach for your organization.
Compliance
Our team will review all of your documentation to ensure your organization is in compliance with all of the requirements under ERISA. After the review, we will outline our findings and develop an implementation plan to address any issues. We will continue to work with your team to provide updates to your benefit plans, documents, and processes as regulations change and new regulations are developed. Some of our compliance services include:
- Prepare all form 5500 filings
- Review current Summary Plan Description (SPD) and develop a new one if needed
- Provide consultation to your Human Resource department as it pertains to your plan and your processes
- Keep you aware of all of the new legislative updates/changes
- Assist with all annual benefit notices
Population Health Management
As healthcare premiums continue to rise, the solution is not always to just raise contributions, copays, deductibles and coinsurance. With our claims data warehouse system and predictive modelling tools we will analyze your claims history while identifying any lifestyle, chronic and congenital conditions. From there we will work with your team to develop a customized plan design that financially incentivizes your population to access the facilities and providers in your geographic areas that yield the best outcomes and lowest readmittance rates. Over the years we have demonstrated improvements in employee health while positively affecting our clients’ claims expenditure, so not only are employees saving on out-of-pocket costs when they are seeking care, but this will also positively affect your overall claims expenditure and thus save employees and the organization moving forward.
Contribution Modeling
Employers are always attempting to align their contribution strategies to the financial well-being of the organization, their industry, and their employee demographics. Our top priority is to help you balance your employees’ healthcare needs and your organizational goals. As the workforce continues to become more diverse employers need to offer employees a wider array of plan designs but also wider funding arraignments for their healthcare plan and one of those methods is through contributions. Some employees may want greater deductions as contributions while paying less when they seek care and others want to have lower deductions yet pay more when they seek care.
Financial Underwriting
Unlike most benefits brokers/consultants, we handle the entire underwriting process for our clients. Our team members will negotiate with your vendors as your health benefits advocate. We will analyze your claims history and project that against expected norms to determine if self-funding your program or another alternative would be appropriate for your company. Our team will identify the best combination of funding alternatives and reinsurance levels based on your company’s claims experience and its risk tolerance. Lastly, we will determine the most appropriate form of stop-loss coverage, the proper specific and aggregate attachment points, and the most competitive reinsurance vendor for your program.