Getting Started

handshakeWe offer complimentary reviews on all aspects of your group benefits program including evaluation of existing plan design, funding agreements, and communications protocol with the brokerage and group insurance carrier.

During our initial information sessions, we sit down with company personnel who are in charge of the benefits program to get to know the firm’s current situation in terms of claims experience and plan design and discuss the company’s objectives in offering the plan. The next step is to gather the information required for us to begin our analysis. Once completed a second meeting will be scheduled to discuss the results and recommend a course of action, be it, staying with the same plan design but making needed modifications or switching the company to another plan model that we will recommend.

Plan Diagnostics – Change the model or tweak the existing plan?

Group benefit programs need constant vigilance. There are obvious symptoms that our brokers are trained to look for that signal it is time for a closer look at the plan design of a company group benefits plan. Clients’ should think of us as a forensic accountant. Our analysis assumes that something is automatically wrong with the plan and needs fixing. We are rarely wrong. Below are typical questions we put to our prospective clients.

  • How can you rein in unchecked premiums increases? What are the true sources of these increasing costs and what are the options for keeping benefits pricing level and more predictable for budget purposes?
  • Given the rising costs, drug companies are downloading these costs on our insurance carriers! These increased costs are creating critical risk factors to private health plans. What can be done to proactively manage your plan in the long-term without slashing the plan’s core offerings? In light of the present volatility in drug costs and health trends, is your plan protected against this? Can you insulate your plan?
  • Is your employee benefits program doing what it should? That is, is the plan optimized to attract and retain quality employees for your organization? Are you paying for coverage that is not in line with company goals, plan member needs, or your competition?
  • Are your employee’s aware of the true value of their benefits plan and the challenges of providing this coverage in an environment of constantly shifting healthcare costs? Are employees engaged by the company to be healthy and productive? Are there challenges with keeping people at work (absenteeism) or working to their full potential ? Can the plan offer some perks that might mitigate these challenges? For example; corporate affinity programs. These programs have more value than you may think!
Employee Benefits