Employee Benefits Consulting & Support

Trust in ICA to benchmark results that enhance clients’ coverage while reducing their overall cost of risk.

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Through our Employee Benefits Consulting and Support service, ICA will help you navigate the tricky waters of the employee benefit marketplace. This is to ensure that you obtain fairly priced, consumer friendly, and reliable employee benefits that best protect your people, and organization.

ICA understands the nuances that Human Resource departments within an organization face when structuring a comprehensive and budget friendly employee benefit program. Due to ICA’s experience, the difficulties that parallel those nuances become more easily manageable to our Clients. This holds true especially when the marketplace enters a state of flux or crisis, and it becomes harder to secure coverage when companies leave the marketplace.

With ICA as your advocate, your organization’s needs will be best met through hard, soft, and changing market conditions.

For more information about this service, fill out our contact form .

See Below for How It Works:

Identify risk exposures stemming from Group Health Insurance and other Employee Benefit plans.

Analyze current plan design and evaluate employee need to employer cost.

Audit insurance policies, endorsements, and invoices to verify rates and premiums for existing policies; analyze policies for errors, omissions, overcharges and other deficiencies.

Prepare specifications, obtain and analyze quotations, submit recommendations to management.

Conduct negotiations with insurance companies, brokers and agents to effect policy language changes during purchase or renewal of insurance.

Review and advise with reference to third party administrator agreements and assist in selection of third party administrators.

Review and critique existing or assist in the development of new Employee Manuals, in an effort to reduce insurance premium cost in employment practices liability, fiduciary liability or directors and officers liability policies by incorporation or amendment of certain language in Manual.

Review scope of claims utilization to develop a cost containment program.

Analyze the potential for bringing claims administration in-house.

Assist in pre-screening a managed care network to obtain competitive rates and pre-arranged discounted fees.

Obtain proposals from audit firms specializing in medical claims to help audit the ongoing program as well as protect the validity of claims accumulated toward the aggregate stop loss.

Evaluate the effect of incentive programs in conjunction with Wellness Programs in order to further reduce claims costs.

Assist in purchasing specific and aggregate stop loss insurance.

Recapture commissions through captive licensing.

Review Employee Benefits Liability and Fiduciary Liability exposure arising from in-house claims administration.