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Group Benefits
Corporate America pays $700 billion in Group Benefit premiums and claims per year. The challenge for an organization is based on how to enter this marketplace to satisfy their specific requirements. By using a broker/consultant? Work directly with providers?
At CMR, we have learned that geographic entry points to finding the right broker or specialist has a lot to do with successful outcomes. What does that mean? What one insurance provider is doing for one client in a particular geograhic area may result in price points that can vary as much as 5-20% from a different geographic entry point.
CMR can help overcome this disparity. Acting in a non-brokerage capacity, we confidentially compare your existing rating characteristics and plan configurations with our proprietary database - The CMR Database®. At CMR, we act in an advocacy role to help you determine how your portfolio's rating characteristics compare with hundreds, often thousands of similar companies domestically or internationally. Our database contains 6,000 brokers, direct writers and specialists who have hundreds and thousands of clients around the world. CMR tracks 40 different characteristics of each specialist, matching core compentencies to a client's industry classification and specific requirements.
CMR will confidentially review your current market position and provide you with national or international comparisons to determine rating and plan differences. So far, we have helped clients save over $105 million in overpriced premiums - plus, we have discovered coverage difficiencies in many existing plans.
Self-insured? You are still an excellent candidate for benchmarketing. We'll look at TPA costs, stop-loss limits, average claim expenses and ancillary costs to provide you with a statistical comparison of similar sized self-funded clients.
Initial Steps
- Check current plan design and cost competitiveness by reviewing rating characteristics.
- Report to CFO or Human Resource Director with confidential benchmarking report
- Determine action plan
Once CMR is Formally Engaged
- Survey of operations to understand Human Resources' outlook and philosophy
- Prepare bid specifications: risk identification, cost shift, reduce/eliminate, avoid uninsured
and underinsured losses
- Use The CMR Database® to find specialists
- Solicit proposals and manage process
- Control access to $1.5+ trillion worldwide market
- Prepare final report with recommendations
- Offer creative options
- Provide independent ongoing stewardship
Core Competencies
- Medical: Fully-insured or self- funded
- Dental: Fully-insured or self-funded
- Life & Disability
- Health Reimbursement Accounts (HRA's)
- Health Savings Accounts (HSA's)
- Captive Studies
- Wellness and claim intervention analysis
- Medical and Rx Audits
Industry Expertise
See The CMR Database® |
Confidential Portfolio Analysis - Please enter all applicable information
Number Of Employees Participating in Medical Plans:
