Plan design, to a great degree, affects plan utilization and the ensuing plan costs. Therefore, the broker’s role is to assist you in plan design prior to implementation or renewal in order to maintain the optimal mix of benefits and costs. This would include evaluating Funding Options such as Fully Insured, Partial Self Funding, Fully Self Funded/Administrative Services Only (ASO). Benefit Design includes Consumer Drive Health Plans (CDHP’s) such as Health Savings Accounts (HSA’s) and Health Reimbursement Arrangements (HRA’s). Additionally, plan design would include such issues as matching and comparing existing provider penetration and saturation of proposed provider networks. The health plan should be designed to empower the employees to take more control of their health care and to use the health plan in a cost-effective manner.
Implementation of the benefit plan is co-managed and facilitated by The Henehan Company. Part of a successful plan implementation is measured by the ease of initial plan enrollment and the on-going communication of benefits to the plan participants.
Once the plan is in place, The Henehan Company provides extensive support services to both employer and employee. Acting as intermediary between carriers and client with regard to clarification of benefits and resolution of claims problems, the broker can relieve a significant administrative burden from the staff of the Human Resources Department.
This support service includes such items as:
The Henehan Company provides plan and claims analysis for its client including recommendations regarding changes to the plan in order to effectively manage the risk.