Group Benefits Plan Management
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Group Benefits Plan Management - Life & Health
NPS Consulting provides a full range of Group Benefits Plan services.
§ Preparation of customized employee announcement and implementation letters and packages
§ Monitor level of service provided by insurer
§ Personal visits whenever requested – education sessions, “lunch and learn”
§ Commitment to individualized service standards
§ Employee claims resolution
§ Enhance efficiency for the plan administrator – including access and training of internet administration sites.
§ Reduce exposure for the employer through advice on legislative compliance
§ Ongoing communication of legislative and procedural changes
§ Application of the latest technology for plan administration where applicable
§ Provide communication materials for distribution to employees to address common claims, coverage and eligibility issues
§ Consultative advice with respect to Employee Policy Manuals and best practices compliance
Underwriting and Funding
§ Audit of insurers financial management of the plan and negotiate best arrangements (reserve, expense levels, inflation assumptions etc.)
§ Annual assessment to ensure funding methods remain appropriate
§ Provide you with a quarterly update of performance on the experience rated benefits and projection of renewal action so you will be well positioned for renewal, and aligned well in advance for corporate budgets
§ Monitor health and dental claims trends, including identifying emerging trends
§ Health & Dental Claims by service type utilization review
§ Market survey and analysis
§ Union Negotiations
Benefit Plan Design
§ Plan design should reflect the employer’s compensation strategy, corporate objectives and philosophy. Benefits should attract, retain and care for valued employees who contribute to your success. Plan Design should contain cost controls, where appropriate to ensure the ongoing viability of the Plan, recognizing the tax advantages to employees of Benefit Plans.
§ Benchmark studies to ensure your plan, both from a plan design and premium contribution, is competitiveness with competing firms.
§ Specifically designed and conducted Employee surveys to determine benefit plan satisfaction and to ensure employees are aware of the increased cost to Employers to provide Benefits Plans and their part in overall compensation.