Implementation and administration of Employee Benefits does not differ
from the process followed for full time staff. There may be a greater
need for flexibility in terms of design and eligibility, however, these
are issues that are dealt with before design to ensure that the client’s
corporate needs and goals are being met. Cost sharing – eligibility
– plan design and corporate objectives will dictate the process
to a large degree.
Quarterly Experience Reviews
This report typically details the ratio of premiums to claims from renewal
date relative to each quarter of the policy year. The report includes
graph depictions of the information and may include comparative illustrations
from the prior year in order to measure any change in trend. The review
which, is based on the experience period from which the carrier will develop
the renewal rate basis will typically include projections of what our
client might expect to see with the renewal proposal from the carrier.
Where appropriate we will develop communication for the employees to increase
the awareness of the plan and associated costs. We will include information
relative to escalating costs and experience together with suggestions
to encourage the employees to participate in management of the plan.
Where plan design changes are being considered, if it is appropriate,
we will conduct employee surveys to measure the employee’s understanding
of the plan and costs.