Employee Benefit Consulting Services

Front Range Insurance Group constantly works to develop new and innovative ideas to ensure that our clients get the best value from their benefit plans.  Our full range of employee benefit services includes exploring all of your options and then customizing a strategy that meets your needs.

 

Strategic Benefit Planning

Getting to know you and your company is the first step we'll take, which is essential to the process of developing a plan that's right for you.  Our strategic planning lays out plan design options, competitive benchmarking and employee contribution strategies.  We'll evaluate your vendors to establish whether competitive bidding is appropriate for you, and we'll explore funding options based on your cash flow objectives and risk tolerance.

 

Employee Benefits Benchmarking

Knowing how your benefits plan compares to the marketplace is a crucial piece of recruiting and retaining talented employees.  Competitive benchmarking provides that insight.  Using surveys and public data from our extensive library, we'll compare how the components of your plan stack up including deductibles, copays, employee contributions and more. 

 

Employee Contribution Strategies

Employee contributions are a critical but often overlooked aspect of strategic benefits planning.  Once we have your plan design structure set, we'll work with you to match your objectives to the right contribution strategy.  We'll educate you on how contributions can provide incentives toward better health, motivate employee behavior and influence the selection of plan options.  Finally, we'll work with you on developing final rates and values between family tiers, incorporating all of these components into a program budget.

 

Competitive Bidding and Vendor Management

Selecting the right vendors is extremely important, and possibly the most visible piece of your benefits plan.  If claims are not paid accurately and quickly, you can be sure that you'll hear about this from your employees.  We'll work with you to develop bid specifications and evaluation criteria, and we'll manage the selection process, leading you to the right vendor and ensuring a high standard of performance and delivery of services as promised.

 

Benefits Renewal Analysis

With our strategic assessment and claims data repository readily available, we take an advanced planning approach to your plan renewal each year.  Based on our knowledge of carrier rating processes, we'll uses your claims history to calculate your expected renewal adjustment and allow plenty of time to go to market should pricing become a key renewal issue.  This process puts us in a strong negotiating position to secure fair and competitive rates.

 

Benefits Funding Analysis

With insurance costs continuing to rise, many employers consider self-funding as a way to better manage the cash flow of their health benefits program.  We will monitor your plan on an ongoing basis to ensure that your plan funding is cost effective.

We'll review your claims history and calculate expected cost models to determine if self-funding or other alternatives may be appropriate for your company.  We'll assist in identifying he best blend of funding options and reinsurance levels in consideration of your company's risk tolerance and claims experience.  We'll also evaluate the most appropriate type of stop loss coverage, proper aggregate attachment points and competitive reinsurance vendors for your program.

 

Benefits Implementation Support

Our highly trained account managers are available for all types of support, including attendance at your open enrollment meetings to explain the plan options and answer employee questions.  The account manager will coordinate your open enrollment including web set-up and testing, timing of deliverables and coordinating communications of vendor services.