Benefit Review Process

To Help You – We Get To Know You … with our Benefit Review Process.

All of our clients with over 50 employees receive a Benefits Review at no charge. This review allows us to take a deeper look into your company and to better understand your needs. Our Benefits Review process helps us identify key areas where we can improve your benefits and help you reach your objectives and protect your bottom line.

Our Benefit Review provides you with an informative report that gives an overall analysis of the following:

• Benefits
• Costs
• Liabilities
• Gaps in coverage
• Overlaps and overspending
• Contingencies

Your Benefit Review will focus on the following areas:

• Plan Audit and Benefit Review
  
  
  • Compliance and Contract Review
    • Compliance review of COBRA, HIPAA, ERISA, USSERA and Medicare Part - D
    • Review of contracts, reinsurance agreements and administrative agreement to mitigate undue liability
    • Review Plan Documents
    • Review Summary Plan Descriptions
    • Reporting / Disclosure
  • Renewal Review and Negotiations with Carriers
    • Detailed review of all fixed and variable costs for carrier(s)
    • Review of carrier Underwriting Formulas and Assumptions
    • Evaluation of carrier capabilities to align with employer’s goals and strategies
    • Wellness and Consumer Driven Health Plan capabilities
    • Customer Service and Employee / Employer Self Service Tools
  • Technology and Communication
    • Review of how benefits are communicated?
    • Review of Employee Self Service Tools
    • Online Enrollment
    • Total Compensation Statements
      • Review of claims data as available (proprietary process) to determine emerging trends in costs for Medical, Dental and Rx
      • Detailed benchmarking analysis of all costs/benefits to companies with similar geography, size and industry
      • A thorough plan review of all plans to determine cost efficiencies and design of multiple-option plan approaches

And We Don’t Stop There...

You will also receive other beneficial services such as:

• Quarterly Review of Claims Data
  This is a process through Data Warehouse / Analysis Tools that helps to determine emerging trends in costs for Medical, Dental and Prescription Drugs.
• Actuarial Review
  • Benefits Cost / Contributions
  • Reinsurance Costs / Levels
  • Budgeting / Forecasting
  • Predicative Modeling of Multiple Plan Option Approaches