Providing Employee Benefits Through Strategic Partnerships
A regional bank with branches located across multiple states in the US began the process of expanding their insurance division to become more attractive to prospective clients. At the time, the bank had strong presence in their home state with respect to their Property & Casualty services. However, there became
Rainmaker Program Brochure
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Escalating Pharmacy Costs And Carving Out The Pharmacy Benefit Program
As we near the end of a decade that has seen dramatic increases in healthcare costs, employers’ efforts to curtail their organization’s healthcare spending have ramped up in response. A primary target in these efforts has been pharmacy spending; a subcategory of overall healthcare spending that has risen in cost
ACA Reporting And Handling Compliance Changes
The vast systematic change brought by the Affordable Care Act came with an entirely new set of IRS reporting requirements that employers would need to complete on an annual basis. The specific requirements and documentation that need to be submitted vary depending on company size, and many companies who were
Revising Administrative Processes For A Large Multi-State Client
Companies and organizations spread across multiple states and jurisdictions frequently face an increased number of rules and regulations when compared to a single-site employer group. Many companies experiencing fast growth into new territories must adapt to remain compliant with state and federal law to maintain sustainable hiring and HR practices.
Revisiting A PBM Contract For A Municipality
As pharmaceutical companies conduct new research in the development of prescription drugs, the demand for certain drugs amongst the insured population changes. Shifts in demand are often met with increases in the prices of certain drugs, and many employers with self-funded plans are seeing that the amount they spend annually
Diverging From Professional Employer Organizations
Managing human resources, payroll and benefits for a rapidly growing company can be overwhelming. In these cases, some companies choose to partner with a professional employer organization (PEO), which allows these important responsibilities to be outsourced to a specialized team for a fee. When a group partners with a PEO,
Restructuring HR For A County Government
A local county government had been facing recurring issues and concerns about the integrity of their HR Administration. Their experience with past HR managers who were employed by the County had proven unreliable, as many of these past managers had engaged in self-serving alliances with county commissioners and other elected
Implementing An HSA Plan For A Nonprofit Client
Most working adults in the United States have been firsthand witnesses to the dramatic increase in healthcare costs over the last 10 to 20 years. Where most employer-sponsored medical coverage used to have very affordable monthly premiums, and to many, were an afterthought from a budgetary standpoint; employees and individually
Increasing Employee 401(K) Program Participation
A private equity firm purchased two companies in the environmental services industry. The firm’s goals in this merger were to: effectively combine the processes of the two groups, consolidate overlap in C-Suite positions and the assets of their corporate headquarters, and create efficiencies in each office location, which included increasing
Managing Pharmacy Costs To Create Savings
As healthcare costs continue to rise, one of the main drivers remains constant across markets: the cost of prescription drugs. Since many plans include copay amounts for different drugs, consumers are not exposed to the full cost of the drug paid for by the plan. These unseen prescription drug costs
Providing Employee Benefits Through Strategic Partnerships
A regional bank with branches located across multiple states in the US began the process of expanding their insurance division to become more attractive to prospective clients. At the time, the bank had strong presence in their home state with respect to their Property & Casualty services. However, there became
Benefiting From Property And Casualty Insurance
Unlike health insurance, which is used frequently by employees in a company or organization, property and casualty insurance is often an afterthought in the minds of those covered. Low engagement with policies such as workers’ compensation or general liability is often a positive indicator of a company’s well-being. However, if
