Employee Benefits

Case study

A growing international construction and engineering firm need to contain growing costs in its employee benefits. PRM was tasked with not only keeping rising costs within assigned parameters, but also helping  employees understand the value and better utilize their company provided benefits.

 

Case Study: Employee Benefits Case Study: Employee Benefits (58 KB)


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PRM Consulting Group provides a comprehensive array of health & welfare benefit consulting services in the general areas of design, finance, communications, administration, monitoring and control, and vendor management. Major service areas include:

Strategy Development & Plan Design

  • Strategic planning, cost management and collective bargaining
  • Aligning benefit plans and policies with human resource and business objectives
  • Health & welfare consulting, including flexible benefit plan development, integrated disability management, paid time-off, renewal rate analysis for self-funded plans, compliance, nondiscrimination testing, and reporting and disclosure
  • Claims payment auditing and analysis

Benefit Plan Evaluation & Management

  • Vendor selection
  • Network access analysis including specialty networks
  • Health plan report cards
  • Vendor implementation and renewal, including renewal negotiations
  • Ongoing plan management, including contract administration, periodic reporting, on-site reviews, and performance standards and guarantees

Financial Analysis

  • Experience monitoring
  • Vendor renewals
  • Reserving, accruals, and rate and contribution setting
  • Actuarial measurement and forecasting, including retiree health & welfare benefit obligations and financial modeling guarantees