Consulting Services

Initial Plan Audit:
During this phase of the consulting process, an evaluation is made of your current insurance program, funding arrangement(s), benefit design and relation to federal and state compliance issues. This AUDIT is one of the only ways for the employer to have an independent party review the existing plan, along with the employer and/or an insurance committee. The sole goal is understanding where the plan currently ranks in relation to the goals and desires of the employer.

Request for Proposal:
Standardization of the Request for Proposal (RFP) in a fashion which encourages insurance carriers to offer a proposal is paramount, and yet it is important to retain the employer’s goals and unique plan design goals. We prepare the RFP to include: the current and proposed plan design(s), the requirements for submitting a proposal, questions which help in the decision making process, a complete census listing and all available claims information. We submit the RFP to the Employer’s bid list, through advertising in local and State newspapers and through direct solicitation, all at the employer’s direction.

Proposal Analysis:
Once proposals are received the real work begins to be able to interpret the data and make a decision which is based upon the facts of the proposal and how it relates to the RFP. The only way to make an accurate evaluation is to “level the field” by making a line item comparison of pertinent data which forces all proposals into having as close to an “apple-to-apple” comparison as possible. Due to funding arrangements and negotiated provider contracts and services, that goal is not always 100% possible. We also facilitate the interview and contract implementation processes.

Ongoing Support:
Insurance program frustration escalates when plans are abandoned after “the sale is made”. Having someone working on your behalf to interpret contracts, summary plan descriptions and claim reports can eliminate a significant portion of the confusion and make the plan operate more effectively.

** The above services are priced individually based on the employer’s needs.
** Covenant is not paid directly or indirectly by any entity bidding on an employer’s program which is not fully disclosed. This means that the services offered are offered in the best interest of the employer, not another entity.

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