COST MANAGEMENT

Cost Management

As part of our comprehensive benefits management services, EBS brings extensive underwriting/actuarial experience to our clients. Substantial savings are almost always found after an “EBS Renewal Analysis.” This means saving tens of thousands of dollars and sometime hundreds of thousands of dollars depending on the size of the plan.

An analysis should be provided of what the health plan actually costs based on your brokers analysis versus what the health plan renewal has issued—the two rarely agree. The reason for the conflict is, the insurance company is in business to make as much profit as they can. One of the most important qualifications that you as a plan sponsor must be able to identify when hiring your Benefits Consultant is—do they have actuarial experience? It is your consultant’s job to assess what the plan actually costs and then negotiate the plan costs by coming to terms with the insurance carrier.

This is a results oriented approach that delivers substantial savings to our clients.

In our quest to further impact the overall cost of the benefits program, EBS will also provide specific advice on:

  • contribution strategy;
  • plan design;
  • budget projections;
  • funding options (such as self-funding)
  • and the most effective cost reduction strategy available to us (and drastically underutilized)— Qualified High Deductible Health Plans/Health Savings Accounts.
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