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Health & Welfare Consulting
Strategy with execution.
Strategy with execution means achieving your desired results. Whether your goals are related to cost, participation or employee satisfaction, Laurus Strategies works passionately to understand your unique business goals, develops objectives specific to those goals, and creates and executes a benefits strategy in line with those objectives.
Our Health and Welfare consulting practice has a unique approach and national reach. We provide a blend of strategic consulting and day-to-day plan management. Our core competency is managing what matters using a high touch, proactive approach with comprehensive analysis and constant performance monitoring. We take our commitment to our clients seriously and enjoy our collective successes. Our approach fosters long term partnerships and continuous achievement of our clients’ financial, operational and employee satisfaction goals.
We follow a disciplined, dedicated approach to partnering with our clients which includes:
- Assisting in the development and integration of business, human resources and benefits strategy;
- Managing / monitoring benefit expense risk and quality of care / services;
- Improving / simplifying the benefit administration process;
- Negotiating with and manage plan vendor relationships; and
- Assisting with communication strategy development and implementation.
Laurus Strategies’ Health and Welfare Consulting services will customize services in the following areas to ensure they support your company’s specific goals.
Client Strategy and Relationship
Our lead consultants have extensive market knowledge and experience which allows them to:
- Manage the overall client relationship and ensure client satisfaction
- Understand client business goals and assist in the development of the immediate, short-term and long-term benefit plan objectives and strategies
- Ensure that only the highest quality work, analysis, and opportunities are presented
- Ensure that solutions align with client objectives
- Act as the final review in our quality control process
Client Management
The consultants in our Client Management group act as an extension of your HR staff. Their responsibilities include ongoing and proactive attention to detail as they consistently:
- Assist in reviewing and developing benefit objectives
- Serve as a liaison between the client and carriers, administrators, vendors and strategic partners with respect to plan management, plan design and legislative / contractual review and compliance
- Project manage implementations, annual enrollment, strategic plan and communications
- Develop an annual timeline of projects, renewals, meetings and objectives to be accomplished throughout the year.
- Serve as a day-to-day resource for compliance, contract, and claims issues
- Review Summary Plan Description (SPD) and Summary of Material Modifications (SMM)
Financial Management
In the realm of employee benefits, financial management is an area that is vastly underserved. We have made an organizational commitment to employ a team of experienced financial management professionals dedicated solely to analyzing the financial aspect of your business. They will:
- Develop and monitor annual and ongoing plan performance – costs, utilization, program effectiveness, operations
- Evaluate plan design options and costs
- Establish annual benefit plan budgets
- Analyze provider network discount, accessibility, and disruption
- Develop employee contributions and provide modeling scenarios
- Manage the Request For Proposal preparation and analysis process
- Negotiate renewals including fixed costs, claim costs and claim reserve analysis, annual premium equivalent calculations, employee contributions and COBRA rate calculations for self-insured plans