Meridian Risk Management Overview
Trust comes with experience. Presented by: Tom Clements Managing Partner Employee Benefits
A Bit About Us Our Philosophy -Selling insurance is a transaction. Managing your employee benefits risk requires insight, nurturingand understanding. Insight about the way you run your organization, clarity on the risks and options as well as understanding your plan for the future. Our Approach -We thoroughlyanalyze all cost and coverage options to offer you products that are not only trustworthy but represent valuefor your spend. Meridian provides expertconsulting and a wide array of benefit products to find the best fit for your company landscape. Meridian reflects the values and principles of our founder, Joe Solimine, Jr., and his father Joe Sr.: Discipline, diligence, honestyand commitment to community. Our business is built on trust – five decades worth. 2
Employee Benefits Group 3
About the Employee Benefits Group Experts in Health & Welfare Consulting –We are the sat- nav for our clients and represent the best providers nationwide. Trusted Advisors –Year-round consulting, proactive not reactive, results driven. White Glove Service –Personal, high-touch client and member services. Cutting Edge Tools & Resources –We ensure our clients have access to the newest and most favorable options available. Multiple Compensation Models –too often, compensation models are in the brokers best interest and not the clients. 100% accountability and transparency. 4
Meet the Team Tom Clements Managing Partner Dedicated Account Manager Underwriter Financial / Claims CSR Team Patient Advocacy Legal Counsel & Analyst Actuary Additional ADMINISTRATORResources Additional MEMBERResources - Plan Document Builders - Procedure Price Transparency Tool - Benefit Administration Systems - Plan Decision Support - HR Consulting & Training On Demand - Wellness - Plan Benchmarking - Claims Advocacy - COBRA Administration - Educational Videos/Podcasts/Emails
Cost Containment Cost Containment is Essential • Benchmarking–How do your plans compare? What are the goals of the program? Attracting and retaining talent. • Consumerism –How are members spending combined dollars? Provide options and education to reduce dual exposure: Telemedicine, Rx applications, Price Transparency Tools etc. • Targeted Communications–Educating your ENTIREpopulation, not just employees. Those who focus solely on employees miss 2/3’s of their population. What is driving cost and can education or plan design changes fix the problem? • Leveraging Technology–how can technology assist your and your members? • Long-term strategy–what are the goals of your programs and how do you achieve them? • Alternative funding methods –fully insured, self-funding, level-funded, minimum premium, reference-based pricing, PEO, direct primary care, Rx carve-out…You have multiple options! Meridian Risk Management has proven solutions to assist you in managing all aspects of cost. 6
Renewal Strategy 7
The Renewal Process Pre- Quote Finalize Implement Post Renewal Decisions Enrollment
Our Approach Custom Communications –tailor-made, uncomplicated benefit documents, emails, videos and online solutions. Simplified Language & Examples –limited insurance speak, authentic and relatable examples. Benefit Administration Systems-evaluate and implement solutions specific to your needs. Plan Decision Support –web content assists with plan selection to best meet members’utilization and financial needs for short and long term. Benefits On Demand –online benefits information available 24/7, 365. Listen/ask experts on demand. 9
Custom Communication Suite Interactive Enrollment Communications –Meet ‘Alex’ A Fully customizable, online, decision support video series, that factors in an individual’s demographics, utilization, premium contributions and tax implications to guide your employees to the most cost-efficient medical plan that you offer, all with a twist of humor added in. 10
HR Support & Compliance 11
Due Diligence Audit Prep –Are You Compliant? Some key documents needed: • ERISA SPD Wrap Document • Business Associate Agreements • 5500 Filing • Summary Annual Report (SAR) • Model Notices • HIPAA • ACA • And many more!
Extensive HR & Compliance Assistance Live HR Hotline Online Trainings HR Library • SHRM Designated • Sexual Harassment • Plan Document Builders Representatives • OSHA • Employee Handbooks • Over 450K questions • FMLA • Policies & Procedures answered • HIPAA Privacy • Job Description Builder • HR Compliance • Workplace Safety • Templates • Employment Law • Wellness • Forms • Leave / Absence • Over 200 Available! Management State & Federal Specific State & Federal Specific Documents automatically Available on Demand update with changes in legislation
Wellness 14
Financial, Emotional and Physical Wellbeing What we are seeing… • Focus on all areas of wellness, not just physical • Listen & learn what employees want • Gather information to assess any challenges • Identify programs that fit your organization • Execute a plan that is easy to use and access • Evaluate and measure the results • Lean on carriers and third party vendors • Make the programs fun & engaging • Renew and refresh ideas
Why Meridian? The Meridian Difference Enlighten. Partner. Strategize. Ask our clients!
Why Us? TheMeridianDifference • Flexinstead of Force-Differentcompanies & employeeshave different needs. Insurance firms can (and should) cater to this. • Relationships instead of Transactions-People are not plans. It's the strength of our shared desire to care that binds us. • Enlightenment instead of Ignorance–Health Insurance is a business of nuance that requires explanation and thoughtful discussion. • Value instead of Cost –Quality plans at the best value are the only way to care for your company and it’s most important assets –your employees. 17
Our Community We believe in giving to the community we serve. 18
Thank You ContactUstoGetStarted TomClements ManagingPartner EmployeeBenefitsGroup [email protected] JoeSolimine,Jr. President&CEO [email protected] 19