Financial Analysis
Our highly trained team of financial analysts is ready to design a comprehensive Health & Welfare financial analysis of your plan. We provide everything from basic forecasting to complex claims analysis.
We tailor our financial team's services to fit your organization's needs. Some of the many services we offer include:
- Key medical plan cost driver reporting - What makes your costs rise?
- Key prescription drug plan cost driver reporting - Do your employees choose brand drugs too often?
- Plan design change analysis - How will benefit changes affect premiums and utilization?
- Annual budget preparation - How confident are you in the bottom line for your plans?
- Premium equivalent and COBRA rate development - Are your costs allocated correctly?
- Quarterly comparison of budgeted costs to actual costs - How is your plan performing?
- Incurred but not reported claims (IBNR) calculations for self-insured plans - How will this impact plan performance and cash flow?
- Per Employee Per Year (PEPY) year-over-year trend comparison - Is this rising above trend?
- Provider discount and fee analysis - Do you have the most advantageous network?
- Employee contribution modeling - Are your plan contributions structured properly?
As data-driven consultants, we dig deep to identify the true cost drivers of your benefits program. Our recommendations focus on the changes that are least likely to affect your employees and most likely to lead to significant measurable savings.
We work as a proactive partner with vendors to gain a fuller understanding of the benefit program's financial performance, so you can set your budget with confidence.
