Clients are commonly shocked at how much their benefit costs can be reduced by simply eliminating broker commissions.
We recently reviewed a prospective client’s annual Form 5500 filing that showed broker compensation in excess of $400,000 – those are hard dollars that couldn’t be justified at an attorney’s hourly rate. Paul Bazell, Principal
Adviant budgets for and invoices insurance brokerage services in the same manner as our other services – based on time and materials.
Competitive
Bids for Group Insurance, Individual Insurance, Investment Options, Investment
Advisory Service, TPA/Recordkeeping Services, Pharmacy Benefit Management
Services, UR/UM/ Disease Management, and Large Case Management Services
Vendor
Evaluation and Selection Criteria; Make Vendor Recommendations, and Negotiate
Vendor Contracts
Document/Policy/Contract
Review (Summary Plan Descriptions, Plan Documents, Trust Agreements, Service
Agreements, and Employee Benefit Communication Materials)
Employee
Benefit Plan Enrollments
Annual/Open Enrollment Presentations
Educational/Instructional Employee Meetings
All Media (Paper, IVR, HRIS and Web)
Benefit
Plan Utilization and Performance Reports, Comments and Recommendations
Benefit
Plan Administration/Process Improvements, and Application of Industry Best
Practices
