United Benefit Advisors (UBA), an alliance of 125 of the nation’s independent benefit advisory firms, announced a suite of analytical and client support tools designed to help employers take control of their health insurance costs.
Through a unique relationship with Reden & Anders, one of the nation’s actuarial firms, UBA member firms can now deliver the same level of actuarially-based advice to mid-size employers that had previously been provided mainly to very large employers.
With Reden & Anders actuarial tools, UBA member firms now have resources to effectively address a host of cost-critical employer health plan questions, including:
* Are the employer’s current or renewal premiums appropriate?
* Are the premiums for each of the employer’s multiple plan offerings
set correctly to minimize risk and drive participation to low-cost options?
* Are the self-funded plan’s expected claims and specific stop-loss
levels set appropriately?
* What level of IBNR claim reserves are needed to comply with DOL and IRS requirements?
* What should the high deductible level and HRA contribution amount be for a Consumer Driven Plan Option?
* How can the employer more accurately determine plan design savings opportunities?
All of the tools are linked to actuarially credible health plan utilization databases, which provide employers with answers based on their specific demographic profile, location, and type of industry.
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