Products and Services
BENEFIT PROGRAM PLAN DESIGN
With the multitude of options available to employers and their employees, a carefully selected plan design is essential to successful implementation of a new benefit program. Incorporated in the design will be the consideration of the appropriate PPOs, HMOs and CDHPs that would service your employees, the design of different benefit levels to be offered, and the appropriate contribution strategies and funding mechanisms to maximize savings and minimize costs.
MARKET RESEARCH
ProSource will initiate a market survey for the appropriate insurance carrier(s), third party administrator(s) and/or reinsurance carrier(s). There are several companies that will provide proposals. However, the selection process to find the appropriate fit is extremely important. When the market survey is completed, there are typically three companies that would be selected to make a final presentation.
ACTUARIAL AND UNDERWRITING
ProSource will provide underwriting data with regard to claims projections and benefit modifications. A cost analysis will be provided for each option that is selected. Deductible and out-of-pocket expense variations would also be incorporated into our cost analysis, as well as actuarial estimates for the impact of any modifications being evaluated.
DESIGN OF COMMUNICATION MATERIALS
Whenever a new benefit program is implemented, it is essential that an effective communication package be designed for the employees. We would assist and make recommendations on these designs. In the event that an insurance company is selected to administer your program, they would provide the necessary communication pieces. If a third party administrator is selected, ProSource would design these materials in conjunction with your Human Resources Department.
EMPLOYEE ENROLLMENT
ProSource will assist as directed in the enrollment process. We have found that since we are continually involved in this process, our expertise is helpful. We will make several recommendations for enrollment procedures from which you can select the process that effectively meets the specific requirements of your employee population.
MANAGEMENT OF CLAIMS EXPERIENCE
Claim experience is available from insurance companies and third party administrators through various reports by line of coverage. We will provide interpretations of the data, organize your reports and make recommendations in benefit plan designs which will directly impact your claim experience.
COMPUTERIZED DATABASE SYSTEM
Each employee at ProSource is connected to our network through personal computers. This access ensures the availability of all pricing and contractual information when service calls are received. Your company's benefit program is immediately available when you calls for assistance, regardless of who receives the inquiry.
EMPLOYEE CLAIM ASSISTANCE
Your employees will have the option to file their claims through our office. We will screen them for accuracy, make copies and establish files for each employee to facilitate the servicing of their individual needs. We then forward the claim to the appropriate insurance company or third party administrator for payment. This enables us to monitor the claims process and respond effectively when there are disputes.
LEGISLATIVE UPDATES
We provide our clients with changes in State and Federal Legislation as they become available. This will include our interpretation of how the new laws will affect your employee benefit plan.
The services described here are provided to you at no additional cost. We accept the commissions provided by the insurance carrier, the same commissions other brokers are going to receive. Are those brokers providing the same level of service for the compensation they receive?
