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.
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
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
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…
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
