Program Review / Audit

A foundation for great decision making

Replacing traditional, cost-based management strategies with modern Impact Management is a significant decision; one we do not expect you to make without careful consideration of all the facts.

Knowing where your money is going is often the best possible start. And, knowing what has happened historically creates a foundation for identifying impact management solutions that are the right fit going forward.

If your company is fully-insured, a complimentary program review is the first step in ensuring your decision making team completely understands the potential savings becoming self-funded creates. It also enables you to weigh these savings against any concerns, obstacles and potential risks associated with going self-funded

(In general, we find 35–50 cents of every dollar you spend is kept by carriers. This compares to 25–35 cents for self-insured companies.)

For self-insured companies, a program review enables you to understand the high-level risks within your existing program. The impact of knowing this is often very significant as 5% of your employees typically represent 50% of your claims.

The program review is the first step we take to identify that 5% before they become claims.

Simply put: a program review is an easy, logical way to make great decisions.

Fully and self insured companies receive:
  • Historical claims experience analysis
  • Large claim risk analysis
  • Review current renewal rates and carrier workup
  • Review previous renewal rates and carrier workup as available
  • Summary of
    • Carrier gain/loss by contract year
    • Rate/funding appropriateness
    • Census review and risk analysis
    • Comprehensive components of premium/funding
    • Self funding feasibility (if currently fully insured)
    • Contract risk analysis (if currently self insured)

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Let us help you with your employee benefits needs and questions.

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800-726-8771