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Health & Welfare

In addition to our retirement plan services for Taft-Hartley clients, we also serve this segment with a range of Health & Welfare plan consulting, actuarial and compliance services including:

General Consulting:

  • Consult on matters related to design, eligibility requirements, benefit structure, coverage, limits and exclusions, plan documents, summary plan description, summary of material modifications, and other notices to participants in the plans.
  • Review all policies, provider contracts and agreements and suggest appropriate changes.
  • Review financial data and claims experience and issue periodic reports on the status and direction including recommendations for improvements.
  • Negotiate and serve as a liaison with all benefit and service providers, insurance companies, cost management organizations and others providing services to participants or the plan sponsor.
  • Review claims appeals and provide recommendations.
  • Provide industry updates and trends in the industry.
  • Attend Board of Trustees and Committee meetings.

Technical Guidance and Compliance:

  • Research data and provide cost estimates on proposed plan changes.
  • Review, analyze and recommend appropriate cost management programs and techniques which may have a positive impact.
  • Review and analyze claims experience and utilization data for purposes of projecting client and/or benefit costs, funding (including self-payments and COBRA rates), reserve requirements, and trends.
  • Review pending and adopted legislation and regulations and their potential impact.

Actuarial Service:

  • Prepare annual valuation of post-retirement benefit obligations under FASB ASC 965.
  • Provide actuarial attestation for Medicare Part D.

Advanced Record Keeping and Reporting:

  • HRA recordkeeping and administration.
  • Report on quarterly participant HRA activity.

Communication & Education:

  • Attend member benefit fairs and educational seminars.
  • Draft member notices regarding plan changes and educational campaigns.