Goals + Objectives

Many employers find themselves spending the majority of their time incrementally managing around the status quo. Our highest performing clients take time to rethink what they’re trying to accomplish from a strategic standpoint and establish greater clarity on the respective roles and responsibilities of the company, benefits plan, and employees.

Ideally, we like to begin new relationships by facilitating the creation of clear Guiding Principles for plan management and to aide in the development and execution of multi-year plan design strategies. This typically takes shape through a formal, facilitated exercise to engage the leadership team at a conceptual level (instead of plan design specifics). The result is generally a list of guiding principles that can be used as a firm foundation for future plan management and communication.

By engaging executive stakeholders in the development of a strategic direction without calling upon them to work through plan design details, we help plan managers respond to the needs of the C-suite, as well as employees at every level of the organization. With a well-established strategic direction, employers can leverage our design expertise, underwriting/actuarial capabilities, and market knowledge to boldly manage toward their desired future.

 

Plan Design + Actuarial

Using the data from our Performance Scorecard and the results from our Annual Review & Planning Report process, our consulting and actuarial team forecast the future costs of the current plan and estimate the impact of benefit design, delivery, administration, and cost-sharing alternatives of interest. This includes modeling:

  • Future plan costs based upon recent claim and enrollment history
  • Alternative “what if” scenarios
  • Conventional equivalent “premium” rates
  • Employee contributions
  • COBRA rates

Each year, our actuarial team develops cost projections based upon the last two years of claims and enrollment experience and works closely with our consulting team and clients to develop, prioritize, and implement strategies to meet fiscal goals. These services are at the core of what we do. And by closely monitoring your plan’s monthly performance, we already have the data and the knowledge to develop credible annual budgets, set premium equivalent rates, and model employee cost sharing and plan design changes.

 

Multi-year Planning

It is hard to manage away from the status quo, and much easier to manage toward a desired future state. With the benefit of clearly established Guiding Principles, benchmark data, and our expert market guidance, we work with our clients to develop multi-year game plans for improved performance.

CONTACT

Main Office
24651 Center Ridge Rd, Suite 110
Westlake, Ohio 44145

Phone: 440.892.2600
Fax: 440.892.8920
Email: info@chelkogroup.com

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