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Filling a need
The employee insurance and benefits arena is not only in constant turmoil, but changes as frequently as federal and
state legislative sessions change.
Most executives, management personnel or small business owners are not professionally trained in employee insurance and benefits, and most do not want to be. Most executives do not have the time or want to spend it listening to different
insurance presentations, yet they want to be kept informed on what is happening in employee benefits.
When you encounter problems in your employee benefit plan, be it financial, claim, billing or benefit
interpretation, someone has to solve them.
Employee benefits advice should be received from someone independent and unbiased, not from an
agent who works directly for an insurance company and has their own interests in mind, not yours.
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Review your in–force insurance and medical plans
Cook & Associates will constantly compare alternatives and make recommendations, at least annually (and more frequently if necessary); we will undertake a review of the following:
Employee participation in benefit programs to determine effectiveness.
Financial standing of the in-force plan.
Current year financial picture and renewal formula to assist in rate renewal discussions.
Employer contribution as to:
- Effect on current plan.
- Allocation for greatest benefit.
- Advantages/Disadvantages to employees and employer.
- Current plan compared to model plan.
- Recommended changes or additions to plan.
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Competitive Bidding
Whether as a result of being unable to negotiate benefits or costs with existing carrier (s),
or as an interest in competitive bidding, Cook & Associates will design a set of “bid specifications”
and send them to interested health insurance carriers. These specifications will assume a wide view of the
insurance marketplace and provide valid, specific bids. The adoption or rejection of final benefit
levels will be solely at your discretion. All preparation, duplication, and mailing costs will be
incurred by Cook & Associates.
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Report of Bids
After insurance carrier bids have been received by Cook & Associates, a summary and report will be
prepared by us. This “Report of Bids” will deliver results of bidding health insurance carriers and our
evaluation of their bids. This analysis will, in a concise, yet thorough manner, enable you to make
a decision without being required to spend hours in complicated evaluation. Our report will clarify
benefits and plan rates required by bidding insurance companies and contain recommendations as to which
carriers ought to be considered, and why.
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New Health Insurance Carriers
If, as a result of the bidding and reporting procedure, it is determined that a new plan of benefits
should be considered, meetings with appropriate carrier(s) will be held. Cook & Associates will be
responsible with the new carrier(s) to set up the final contracts, coordinate benefit levels, provisions,
practices and costs. We will assi9st in the enrollment as well as review your master contract’s
administrative procedures.
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Installation and Communication
- Cook & Associates will conduct enrollment meetings.
- Cook & Associates will work with you to solve insurance claim problems and other concerns.
- Cook & Associates will assist your accounting department in setting up an efficient billing procedure.
- Cook & Associates will prepare handouts to make sure employees are properly informed.
- Reports on the financial status of the plan will be prepared as information is provided by the carrier. This is particularly important as rate increases are anticipated.
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Ongoing Services
- Regular visits. When you become a Cook & Associates client, we will visit you regularly by
appointment to solve any problems you might be encountering: Benefit design, claim, billing or
accounting. These regular, personal visits have been our trademark for years - and will be one
of many services provided to you.
- Consulting. Cook & Associates will provide consulting on all phases of your plan, including
administrative, claims and financial.
We will make certain that a workable, practical relationship is maintained with the underwriting
health and medical insurance carrier(s), with particular attention to their policymaking, underwriting and claims procedures.
Also, where possible, Cook & Associates will:
- Provide reports on the program’s premium and claims payment progress.
- Prepare an annual report analyzing the premium paid, claims paid, claim reserve, retention
charges and renewal action of the insurance company with our recommendations on how to proceed
for the next policy year.
- Place the plan to bid once again, with the same process mentioned previously, if the current
carrier is not competitive in their renewal action.
- Assist in the preparation of announcement booklets, claims forms and other appropriate material.
- Be available to answer questions, inquiries, settle claims, assuming the kind of responsibility
required to service your employee benefit program efficiently and professionally.
- Most of all, serve as your insurance advisor maintaining an efficient, smooth operating employee
benefit program.
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Client Support Center
Cook & Associates is constantly finding better means to provide our clients with the highest level
of service and support. You can access timely information regarding your benefit programs 24/7 by
visiting our secure on-line Client Support center. The Client Support center is full of resources:
- Your own personal benefit plans in a secure area where only you can access them
- Coverage summaries of your plans
- Links to Provider websites
- Federal, State and HIPPA Compliance Information
- Forms to administer your plans
- In the News Section that provides you with the most timely industry news
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The Benefits
- You will save time.
- You will not have to listen to endless hours of insurance presentations.
- The Cook & Associates process of competitive bidding will provide you, from an unbiased perspective, a wide selection of options.
- Recommendations will come from professionals specializing only in employee benefits.
- Your decisions will be based on actual comparative data, not the best sales pitch by an insurance agent.
- Employees will have fewer claims problems because of Cook & Associates’ service personnel.
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We would like to be your employee benefits broker/consultant and will share our knowledge, expertise, staff, facilities and experience all for the common good of your employees and organization.
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