Our business model for services includes an annual retainer, along a section for special services billed at an hourly rate, or an agreed upon project rate. All of our contracts are flexible to customize the requirements of each of client. Below is a typical arrangement:
Basic Services (e.g Annual Retainer)
- Attendance at Board and Annual Membership Meetings
- Annual Report and Projections of Income & Expense
- Review of vendor renewals (e.g. PPO, PBM, Stop Loss, Life Insurance, Fiduciary Insurance etc.)
- Benefit Bulletins
- Benefit plan design provides relevant benefits consistent with a Fund’s resources.
- Oversight of vendors providing products to the Fund to monitor performance and recommend changes as necessary
- Determination of reserve levels
- Audit liabilities for inclusion in Form 5500 (e.g. calculation of IBNR and accumulated eligibility liability)
- Development of COBRA Rates
- Development of Retiree Self-Pay Rates
Special Services
- Merger studies and analysis
- FASB ASC 965 Retiree Benefit Obligations (Formerly SOP 92-6)
- Medicare Part D Attestation – calculation required in order for the Fund to receive the subsidy
- Legislative compliance
- Preparation/Review of plan documents, summary plan description, summary of material modifications, etc.
- Vendor RFP Analysis
- Membership Communications
- Modeling Tools
- Compliance