This seminar is designed for human resource professionals, benefits managers, accountants, controllers, finance directors, insurance professionals, business owners and managers and attorneys.
Today’s labor market requires businesses to identify and implement cost-effective strategies to recruit and retain key employees. One critical element of this process is the quality of the company’s benefits package. With premiums rising faster than ever, slimmer budgets, and even more regulations, it is becoming extremely difficult to design and manage a competitive benefits program. Attendees of this highly informative seminar will gain the information and practical insights they need to develop and administer a cost-effective health and welfare benefits plan.
8:30 a.m. - 9:00 a.m.
A. Seminar Overview
B. Background: Current Trends And Statistics
C. What Are Employers Currently Doing To Control Costs
D. Controlling Benefits Costs
1. Plan Design
2. Prescription Drug Costs
3. Administering Benefits To Control Costs
4. Managing Your Vendors
6. Wellness And Health Promotion Programs
E. New Developments
1. Consumer Directed Health Care
3. Disability Management – Return To Work Programs
9:00 a.m. - 9:40 a.m.
II. Cost Control Through Plan Design
A. Network Discounts – National vs. Regional Networks
B. Managed Care
C. Identifying And Communicating Real Costs
D. Preventive Care
E. Disease Management
9:40 a.m. - 10:50 a.m.
III. Controlling Prescription Drug Costs
A. Why Have Costs Soared
B. Integrated Within Medical Plan Or Carve-Out To PBM
C. Effective Incentives
1. Encouraging Use Of Generic Drugs
2. Deciding On Formularies/Preferred Drug Lists
3. Eliminating Multisource Medications
4. Managing Specialty Drug Costs
D. Is Your Mail Order Benefit Cost Effective
E. Health And Disease Management Programs Targeting Prescription Drug Users
F. Panel Discussion
10:50 a.m. - 11:00 a.m.
11:00 a.m. - 11:30 a.m.
IV. Cost Control Through Effective Benefits Administration
A. Up-To-Date Written Administrative Procedures
B. Up-To-Date Contracts That Are Consistent With Other Benefits Documentation And Communications
C. Technological Resources To Automate Your Administrative Processes As Fully As Possible
D. Accurate Premium Billing And Invoicing Of Vendors
E. Auditing Claims Payments
F. Definition Of Eligible Compensation For Benefits Plan Purposes Clearly Spelled Out In Your SPDs And An Accurate Definition Of Compensation Must Be Used To Establish Benefit Levels And Calculate Premiums
G. A Formal Training Process For New HR Employees To Ensure They Know The Benefits Plans And How To Properly Administer Them
I. Coordination Of Benefits
11:30 a.m. - 12:00 p.m.
V. Managing Your Vendors To Control Costs
A. Appropriate Contract Language With Performance Guarantees
B. Regular Face To Face Meeting With Carrier And Administrator Representatives
C. Communicate Expectations Clearly
D. Request And Receive Regular Claims And Operating Reports In A Useful Format
E. Review Renewals Carefully
1. Verify Carrier/Administrators Assumptions And Calculations
2. Evaluate Market Place Trends
3. Consider Competitive Bidding
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m.-2:00 p.m.
VI. Benefits Communications
A. Communicating Beyond Open-Enrollment
B. Targeting Communications
C. Available Methods Of Communication
1. Special Rules For Electronic Communication
D. Employee Understanding Of Health Plans
E. Promoting Healthcare Consumerism And Appropriate Self-Care
F. Fully Using Your Carriers’ Communication Resources
G. Panel Discussion
2:00 p.m. - 3:00 p.m.
VII. Wellness – Impacting The Demand Side
A. Health Appraisals/Screenings To Determine The Major Health Risks Of Your Employee Group
B. Using Age/Demographics To Target Health Promotion Interventions
C. Build Into Contracting Process With Carriers; Utilize Carrier Resources
D. Confidential Follow Up With Employees To Encourage Them To Seek Appropriate Medical Care If Necessary
E. Targeted Communications And Education Programs
F. Disease/Health Management Programs
G. Utilize Community Resources (e.g., American Dietetic Association, American Heart Association)
H. Company Sponsored Or Subsidized Programs And Corporate Discounts
I. Websites And Newsletter Providing Health Care Information And Encouraging Healthy Life Styles
J. Wellness Programs Not Only Affect Health Care Expenditures But Also May Serve Other Important Company Goals Such As Productivity, Reducing Illness Absences, Recruitment And Retention
K. ROI Of $2-$6 Per Dollar Invested
L. Panel Discussion
3:00 p.m. - 3:10 p.m.
3:10 p.m. - 4:10 p.m.
VIII. New Developments
A. Consumer Driven Health Care
B. Health Reimbursement Accounts
C. Recent Developments In Disability Management – Managed Disability And Return To Work Programs
D. Purchasing Coalitions
E. Recent Regulatory Changes And How They Will Affect Your Benefits Program Costs
F. Panel Discussion
4:10 p.m. - 4:30 p.m.
IX. Wrap-Up Summary