group benefits

One of the top five indirect expense categories for a CEO or CFO is the cost of medical insurance for employees. Polls show that workers appreciate employer provided health care and often site this benefit as a major consideration for continued employment.

For the C-Suite, affordability and regulatory compliance are the primary concerns in attracting and retaining a motivated and incentivized work force.  In the U.S. alone, over $700 Billion is spent every year on corporate sponsored Group Benefit programs.  Ever increasing medical costs, including customized Rx prescriptions, mandated and likely changing regulations, as well as rapid advancements in medical technology have made cost control a major challenge.

That’s where CMR  + PolicySmart® comes in. We understand how difficult it is to obtain, implement and manage  these issues.  The multitude of retail brokers, third-party administrators, provider networks, fee structures, insufficient loss data and hidden discounts can present daunting challenges for the C-Suite.

As a non-broker/vendor outside consultant, CMR can offer much needed third-party counsel and direction.  Using The CMR Database® we offer expanded industry insight, proven experience and expanded resources to help organizations identify the appropriate broker, vendor and carrier.

An Expanded Vantage Point

Since 1999, CMR has refined and improved its database with over 2,000 Group Benefit broker and vendor specialists in 120 countries helping you to find the best program at the right price.  Because we’re a non-brokerage service, we are not biased towards any particular broker/vendor—only the best in class professionals that have your best interests in mind.  Our unique matching system uses characteristics such as industry specialty, per-employee costs, rates, average claim expenses, premium volume, noted accounts, servicing teams, limits, deductibles and other data points pairing your organization with the most compatible and appropriate experts who can hit the ground running.

Even if you’re self-funded (which many organizations do to save money), CMR will compare your claim costs, stop-loss limits, network discounts and vendor fees to a multitude of self-funded programs so that you can see how you compare nationally and internationally.

Through The CMR Database®, we have saved organizations over $120 million in industry overcharges while also identifying coverage gaps and duplications in a wide-range of industries. We can even help manage your commercial general liability cost. Our financial and service success stories on behalf of clients, we believe, confirm the excellence and reliability of The CMR Database®.  Indeed, to date, we have achieved a 95 percent success rate.

Here is a rundown as to how the process works:

INITIAL STEPS (COMPLIMENTARY)

  • You provide basic information by registering now
  • We use your portfolio data points to confidentially compare with your peer groups (rates, limits, discounts, TPA fees, deductibles, co-pays, etc.)
  • We provide market feedback to the C-Suite to pinpoint areas to improve
  • We prepare formalized work engagement proposal decision makers

ONCE WE ARE FORMALLY ENGAGED

  • We confer with your HR Department to fully understand the existing structure of programs and needs of employees
  • Prepare bid specifications after carefully reviewing policy terms/conditions
  • Fine tune broker/vendor searches using The CMR Database®
  • Solicit proposals and manage the process with minimal time expended by your team
  • Compare, analyze and consolidate the proposals into a report to your senior management

AREAS OF CMR TECHNICAL EXPERTISE/OVERSIGHT/PRODUCT LINES

  • Medical (fully-insured or self-funded) and Rx/Pharmacy
  • Dental (fully-insured or self-funded)
  • Life & Disability, Vision and Dental
  • Program Audits and Analysis
  • Due-Diligence (Mergers/Acquisitions)
  • Health Reimbursement Accounts (HRA’s)
  • Health Savings Accounts (HSA’s)
  • Captive Studies
  • Wellness and Claim Intervention Analysis
  • Medical and Rx Audits
  • Affordable Care Act , ACA: Legislation Guidance (U.S.)
  • Section 125 and Flexible Saving Accounts
  • Transaction Liability: Representations & Warranties
  • Due-Diligence for Private Equity
  • Coverage Audits, Claim Audits, Claim Network Discounts
  • Captives, Risk Retention Groups, Rent-A-Captive
  • Commercial General Liability Cost
  • Procurement Advisory, Outsourced Procurement, Independent Consultant
  • Do Not Sell Product, Non-Broker, Independent Advisor
  • Strategic Sourcing Services, Insurance Cost Reduction
  • International Benefits
  • Pre and Post-Close Guidance For Private Equity, Merger & Acquisition
  • Department Of Labor Audits, ERISA Compliance
  • Group Benefit Benchmarking Studies, Enterprise Risk Management
  • Outsourced Human Resources