|
CONFIDENTIAL GROUP INSURANCE ANALYSIS |
|
|
|
Company Name: |
|
|
Address: |
|
|
Telephone Number: |
|
|
Contact: |
|
|
MCS Approval/Date: |
(mm/dd/yyyy) |
|
|
|
GENERAL BUSINESS QUESTIONS |
|
|
|
1.Describe the scope of your business. |
|
|
|
2.How long have you been in business?
|
|
|
|
3.How many employees do you have?
(M)
(F) |
|
4.How many locations do you have? (Describe) |
|
|
|
5.How many employees at each location? (if more than one) |
|
|
|
6.Do you have a union? (if yes) what is the contract renewal date? |
|
|
|
7.Do you belong to any trade associations? |
|
|
|
8.Who is/are your current benefits carrier(s)?
|
|
|
|
|
|
ADEQUACY COVERAGE QUESTIONS
|
|
|
|
1.What benefit plans do you offer your employees? (e.g. medical, dental,
retirement, life, disability, etc. – current benefits summary/ies must be provided.)
|
|
|
|
2.Does the employer pay full cost? (current bill must be provided)
( if not) What percentage does the employee pay?
|
|
3.How often are claims submitted and not fully paid? (E.G. Hospital room and
board, surgery, la service, dental, vision care, disability, life, etc.)
|
|
|
|
4.(if you have a pension plan) Is your plan a defined contribution or defined
benefit plan? |
|
|
|
5.(If you have a profit sharing plan or 401k) Are any employee contributions
required? |
|
|
|
6.What benefits (if any) have employees requested which you do not currently
provide? |
|
|
|
7.Why have you not provided them? (e.g. cost, availability, etc.) |
|
|
|
8.What do you like most about the coverage you have? (i.e. level of benefits)
Why? |
|
|
|
9.How long have you been insured with them? % annual turnover? |
|
|
|
|
|
SERVICE FROM CURRENT BROKER |
|
|
|
1.How are your benefit coverages funded? (e.g. traditional, MPP, ASO,
self-funded, etc.) |
|
|
|
2.How were benefit plans determined? |
|
|
|
3.How is your current broker helping you reduce costs and losses? (e.g. Section
125, claims analysis, verifying applicable rate applications, modifying waiting
periods, verifying trend, actuarial services, consumer driven health plans,
HSAs, HRAs, etc.)
|
|
|
|
4.How often does your broker contact you to discuss changes in coverages and
innovations? (e.g. HMO, PPO, PEO, COBRA, TEFRA, etc.)
|
|
|
|
5.Do you receive necessary paperwork on a timely basis? (e.g. Enrollment forms,
benefit booklets, ;plan summaries, etc.)
|
|
|
|
6.Does your broker or benefits provider periodically explain the provisions of
your plans to your employees?
|
|
|
|
7.Do you have more than one source for your various coverages? |
|
|
|
8.Does your present broker advise you of alternate methods to fund your employee
plans? |
|
|
|
9.Are you aware of the financial ratings of your carrier(s)? |
|
|
|
10.What do you like most about the current borker’s service?
|
|
|
|
11.What do you like least about the current broker’s service?
|
|
|
|
12.Is there anything more that you feel we should discuss regarding your current
broker’s service? |
|
|
|
|
|
SERVICE FROM CURRENT CARRIER QUESTIONS
|
|
|
|
1.How often do you meet with insurance carrier personnel to discuss your
account? (e.g. underwriting, claims, premium audits, etc.)
|
|
|
|
2.How often do you receive insurance carrier generated information? (e.g. loss
runs, premium recap, new benefit information, etc.)
|
|
|
|
3.Does your broker receive on a timely basis, necessary paperwork from insurance
carriers? (e.g. enrollment cards, claim checks, benefit booklets, etc.)
|
|
|
|
4.What do you like most about the service from your current carrier?
|
|
|
|
5.Is there anything more you feel we should discuss regarding the current
carrier’s service? |
|
|
|
|
|
ACCESS TO INSURANCE MARKETPLACE |
|
|
|
1.Does your present broker show you competitive quotations?
|
|
|
|
2.What coverages or limits have you requested but not been able to obtain? (why
not) |
|
|
|
3.Does your current group medical plan contain provisions for dividends or
return premiums?
|
|
|
|
4.Is there anything more that you feel we should discuss regarding your access
to the insurance marketplace? |
|
|
|
|