In order to craft the plans you need the right data — and a partner that can turn that data into an invaluable financial strategy. We eat, sleep and breathe the data we collect directly from your carriers and you. But as much as we love numbers – and we really, really do – they don’t tell the whole story. That’s why we take the time to talk with you about your culture, pain points and business objectives.
Our in-house actuaries and analytics specialists aggregate, analyze and benchmark all of the information, creating a new level of transparency and identifying cost drivers. The comprehensive, performance-based reporting we offer lays out the trends, risks and gaps, and pinpoints opportunities for the coming plan year. The result? An easy way for you to make educated plan decisions and build sound benefits strategies on an ongoing basis. Our extensive underwriting, data warehousing and medical claims experience are just the tip of our offerings. Here are a few of the actuarial and financial management services you have access to:
- Rate equivalent development
- Incurred But Not Reported (IBNR) reserve analysis
- Plan design modeling
- Claims analytics (financial and clinical)
- Financial forecasting/budgeting
- Employee contributions (e.g., by tier and wellness offering)
- Internal underwriting and pre-renewal calculations
- Budget analysis and projections
- M&A due diligence financial implications
- ACA valuation
- Alternative funding analysis (e.g., self-funding, fully insured and combination)
- Stop-loss simulation and alternative analysis
- Regular meetings to go over claims experiences, exposure changes and administrative matters
- Detailed monthly, quarterly and year-end plan performance reports