BPAS Healthcare Consulting Services delivers a broad range of benefit consulting services, including: Plan Design; Vendor Selection and Management; Actuarial Analysis; Plan Compliance; and Financial and Risk Management.
The rising cost of healthcare benefits and the aging demographics of many employers’ workforces have placed tremendous pricing pressures on employers’ abilities to provide competitive and cost-effective health and welfare benefits to their employees. We deliver a broad range of health and welfare consulting services.
- Plan Design: We create plan designs that are based on each client’s business and human resource strategies, the characteristics of its employee population, competitive market norms and trends, and careful analysis of the incentives that may impact healthcare utilization.
- Vendor Selection and Management: We manage competitive bid processes, negotiate contract renewals, and advocate on behalf of our clients in resolving contract performance and service issues with insurers, third-party administrators, and prescription benefit managers.
- Actuarial Analysis: As health plan costs continue to rise, the quality and accuracy of health plan cost projections become increasingly important. Our staff of credentialed healthcare actuaries applies sound, actuarial analysis to the valuation of plan amendments, reserve liabilities, premium equivalent rates, and risk-adjusted pricing for multiple plan options, geographies, or populations.
- Plan Compliance: We provide support to our clients and their legal counsel in addressing health and welfare plan compliance issues, including: PPACA, COBRA, HIPAA, ADEA, EEOC, ERISA, and the Internal Revenue Code.
- Financial and Risk Management: We help clients with a wide range of engagements, including self-insurance feasibility studies, claim audits, automated claim testing, plan funding analyses, and due diligence reviews.
We help employers and other Plan Sponsors address these challenges and align their benefit plans with their organizational, financial and human resource strategies.