Financial
We monitor budgets on a monthly basis
Health care spending is no longer solely in the realm of HR – the Chief Financial Officer and other members of the finance department are now taking an active role in managing this expense. We monitor budgets on a monthly basis and adjust accrual rates when necessary – not simply once a year. In addition to continuous monitoring of the budget, we provide the following services, tailored according to your needs.
- Plan Design, Renewals, Funding Rates, Costs Allocations, Contribution Strategies
- Cash Flows and Plan Performance Assessments
- Health Claim Liabilities: Unpaid Claims, IBNR, and other
- Plan Termination and Terminal Liability Calculations
- Trend and Claim Cost Analysis (Aggregate and Components)
- Budget Projections/Forecasts – Accruals, Expenses, Premiums, Claims, Stop Loss
- Provider Network Discount and Carrier Pricing Financial Analysis
- Mergers and Acquisitions Impact Analysis
- Actuarial Equivalences, Actuarial Certifications, Second Opinions, Other
Free Whitepaper: 7 Secrets to Lower Your Employee Benefits Cost This Year
As organizations look at budgets each year, one area that will undoubtedly undergo intense scrutiny is the cost of employee benefits. It is a particularly difficult item to manage due to the increasing cost and utilization of health care, not to mention compliance burdens. HR and finance managers need to take a long-term view and commit to developing a multi-year strategy instead of relying on short-term tactics to contain employee benefits costs.
Download Now