Core Employee Benefits
Are you providing the right health benefits for your employees?
Few areas of business change as quickly as employee benefits. The challenge of providing the right health plan for your workforce is a high priority. Because of this, we make every effort to understand how benefits are utilized and what drives costs before suggesting strategies to manage expenses. Then we monitor our results throughout the year, making sure the results support our goals.
OUR SERVICES INCLUDE:
Employee Usage/Needs Assessment
It is important to understand how your employees use your health insurance, we survey them to find out things such as how many prescriptions do they fill, do they go to out-of-network doctors, would they trade a higher deductible or copay for a lower premium, and what other benefits would they use. Sometimes, this means having more than one plan. Other times, it could mean raising deductibles and adding supplemental benefits. Each employer has a tailored outcome specific to their needs.
To evaluate how the current benefits plan(s) met employee expectations and assisted with strategic planning, we look to see if renewal increase is warranted, if there were any high claims that should be managed, if the employee is no longer with the company and should not be included in the renewal projection, or if health management programs should be added. And, most important, if the plan design still fits the company’s overall planning.
Design & Funding Review
Along with reviewing the current plan design, we will review it considering current market plans and funding design. We will evaluate if self-insuring or partial self-insuring is a way to save, and if a company that pre-adjudicates claims would be better than one that pays them after the procedures are performed. A review of HRAs and HSAs will also be included, as well as an evaluation of whether reference-based pricing is the right option for you. We will make sure all plan comply with the requirements of the No Surprises Act.
Renewal Negotiations & Marketing
We will negotiate on our client’s behalf to reduce renewal increases. While we negotiate, we will also go to the marketplace to see if there are more competitive options available and use them as leverage in our negotiations. If the proposal is truly superior to the current benefits, we will bring it to your attention and suggest a move.
We will work with you to make sure your open enrollment goes smoothly. We can arrange carrier meetings, health fairs, webinars, and design communication pieces for you to distribute to your employees.