DAY TO DAY SERVICE

Services offered include:

  • Respond to daily questions as they arise
  • Assist on claim problems, billing questions, policy interpretation and other vendor/carrier concerns
  • Monitor overall vendor/carrier performance in adherence with Client service guarantees, schedule meetings as needed
  • Update of carrier/vendor developments, such as network, administrative processes, etc.
  • Coordination of periodic meetings with Client HR and Benefits personnel
  • Review of contracts, SPDs, plan amendments, etc.
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CARRIER MARKETING

Services offered include:

  • Develop and confirm marketing objectives and evaluation criteria in partnership with Client
  • Prepare specifications, provide competitive analysis of proposals and make recommendations
  • Negotiate best available pricing / terms using New World Associates market leverage
  • Provide assistance in implementation, communications, enrollment meetings
  • Review proposed contracts, booklets and other carrier materials
  • Provide written “Confirmation of Coverage” prior to effective date
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RENEWAL MANAGEMENT & NEGOTIATION

Services offered include:

  • Aligned with overall strategy, establish renewal objectives with Client six to eight months in advance
  • Request early notification from vendors/carriers
  • Analyze renewal proposals and compare to New World Associates pre-renewal projections
  • Assess appropriateness of pricing/terms (including plan change options) and negotiate on behalf of Client
  • Confirm final renewal results to Client
  • Confirm employee cost sharing levels
  • Assist with Open Enrollment logistics, meetings and basic communication
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LEGISLATIVE & MARKET INFORMATION

Services offered include:

  • Keep Client informed of emerging legislative / compliance issues
  • Assist with ERISA, COBRA, FMLA, HIPAA etc…
  • Respond to Client specific legislative / compliance questions
  • Conduct periodic seminars on pertinent legislative and marketplace trends
  • Regular mailings of bulletins addressing Human Resources and benefit issues such as health care reform, statutory updates, flex benefits, etc…
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FINANCIAL ACCOUNTING

Services offered include:

  • Analyze monthly claim experience to identify large claims and trends
  • Analyze claim utilization data to identify areas of over-utilization, and discuss potential cost savings measures
  • Review and negotiate year-end financial accounting
  • Provide budget analysis and forecast renewals
  • Provide IBNR report on a semi annual basis for self-insured plans
  • Assist in compilation of Schedule A Reports for 5500 filings
  • Provide estimates for long range cost implications due to plan changes
  • Analyze appropriateness of various funding alternatives
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Copyright © 2019 Lisa An New World Associates Inc. Insurance Agency