As a healthcare consultant, Mark III works with its clients to monitor their health plan (both fully insured and self-insured) year round so that the financial integrity of the plan is maintained. To do this, we meet with the client on a quarterly basis to deliver ‘real picture’ renewals and review how the plan is running. In contrast, the industry average is an annual basis.
We are able to provide budget projections 6-9 months in advance of the anniversary date versus the industry standard of 60 days. We understand the importance of this timeframe when planning budgets for the upcoming fiscal year. To ensure the accuracy of the renewal rates from the insurance carrier, we run them against our own numbers based on your plan reports and claims experience. If the numbers do not match, we work with the insurance carrier to resolve the discrepancies.
In some cases, large claims cause significant increases to plan rates. When the budget cannot support a rate increase and the employer does not want to pass the cost along to its employees, we work with the group to implement a dual-option plan by introducing a high deductible health plan. With the intricacies of an HDHP paired with Health Savings Accounts, it’s crucial to have a consultant guide you through the implementation and communication processes.
Our job as your consultant is to work for you. We work to keep your plan financially sound while at the same time providing comprehensive health benefits to your employees.
How can Mark III benefit your employees? Contact us today to learn more about our benefit plans and solutions to meet your needs.
Also send us your questions, comments and/or requests for additional information on how Mark III can assist you on your employee benefits plan.