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Employee Benefits

Cost Avoidance Strategies

The growth in health care spending continues to plague American employers, sometimes impacting the relationship with their employees.  

Plan sponsors have become accustomed to annually reviewing their health care plans to identify cost containment opportunities in the following areas:

 

  • Benefits Provisions— Are plan deductibles, coinsurance, and copayments set at appropriate levels?  What services should be covered and what services should be limited or excluded?
  • Consumer Driven Plans—  Have you considered a move to a consumer driven plan including analyzing a Private Exchange Platform? What Private Exchange Option actually relieves your administrative burden versus increasing it?
  • Employee Contributions— How much of the premium cost should be borne by plan participants?  How should annual premium increases be allocated between the plan sponsor and the plan participants?
  • Carrier/Administrator and Network— Is the carrier/administrator a good business partner for the plan sponsor?  Do networks provide adequate access with a competitive level discount level?

Cost Avoidance Strategies

White Paper PDF

One area that has received less scrutiny historically is eligibility—who is actually enrolled and receiving benefits from the plan?  Typically, a plan provides coverage for full-time employees, their spouses and their dependent children.  Plan sponsors may want to review their eligibility requirements and consider whether there are opportunities to move individuals off of their plans.

Reviewing and amending the eligibility provisions in your health care plan may provide you with an opportunity to reduce enrollment in your plan(s). If you would like to discuss this issue in more detail to determine if it is appropriate for your plan(s), please request a Free Consultation with one of our employee benefit experts.

Should Employers Continue to Sponsor Health Plans?

With Health Care reform bringing The Marketplace, where the general public can buy health insurance regardless of pre-exiting conditions, many Health Insurance Plan Sponsors (employers) are asking whether or not they should continue to sponsor a plan.

At CPI-HR we discuss, on a strategic level, the many opportunities for employers to avoid cost and reduce risk brought on by changes from the ACA (Affordable Care Act).  Our consultants are experts in their field with the knowledge and tools to help guide you through many critical business decisions regarding your continuation of sponsoring a health care plan for your employees.

  • Pay or Play Analyzer - our Actuarial and Legal Department have developed a tremendous decision support tool that shows the pre and post tax impact to both Employers and Employees on keeping a plan or guiding their employees into the marketplace.

  • Affordable Coverage - If you continue to sponsor a Plan would it be better for your plan to be defined by the ACA as Affordable or Non-Affordable?

  • Minimum Value Plan - Should you offer a Minimum Value Plan based on your demographics and risk situation?

  • Dropping Coverage - Does it make sense for you to drop coverage, provide a compensation increase for you employees and put a plan in place to help guide employees through their options?

At CPI-HR we make sure you're comfortable with all your options and that the costs and risks associated with each choice have been accurately presented. Contact an employee benefits consultant so we can start assessing your situation and presenting options you may have not considered.