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.
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 how the process works:
INITIAL STEPS (COMPLIMENTARY)
ONCE WE ARE FORMALLY ENGAGED
AREAS OF CMR TECHNICAL EXPERTISE/OVERSIGHT/PRODUCT LINES