Our industry experts work with clients to maximize the value of their benefit plan designs. Our strengths are insuring that our clients:
- Have a well defined strategy
- Have a competitive and affordable program
- Achieve their population health targets
- Attract and retain their desired workforce
- Have an efficiently managed health plan
- Sustain multi-year cost and trend targets
Meet the Team
Health and Welfare
At HighRoads, we believe the current perfect storm of economic factors demands a new approach to the delivery of health and welfare consulting services. HighRoads health and welfare consulting challenges the traditional delivery model which maximizes billed hours and commission dollars with an approach that leverages our industry-leading technology to not only drive health plan efficiency but also consulting efficiency. This new approach results in both a reduction of health care spend and a reduction in HR consulting costs by 30% or more without sacrificing quality of benefits to employees.
We offer a broad array of health and welfare consulting services including:
Strategy:
- Define your health and welfare plan fit with your mission and values and outline its role in talent attraction and retention
- Utilize real-time benchmark data contained in TheLab to assess your competitive position
- Establish a long-term vision of shared responsibility with your employees in regard to both health management and cost
Plan Design and Pricing:
- Evaluate design alternatives consistent with your long-term strategy and competitive position
- Establish program cost and employee cost sharing targets including self-funded budget or premium equivalent rates and employee contributions
- Provide program cost/budget metrics consistent with other organizational metrics - e.g., per FTE, by division, etc.
- Establish Incurred-but-not-reported (IBNR) reserve estimates for self-funded plans
Vendor Management:
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Utilizing HighRoads technology we provide comprehensive vendor management through a highly cost efficient process:
- Conduct procurement/renewal processes collecting program design and financing (insured premiums and self-funded fees) terms
- Collect provider network information including density and service area files
- Evaluate network discount information for self-funded plans
- Evaluate and negotiate detailed contractual terms for pharmacy benefit plans
- Conduct procurement services for up to xxx coverages (e.g., stop loss, vision, LTD, Life, etc.) utilizing customizable preformatted templates
- Collect, negotiate and monitor performance guarantees monthly or quarterly
- Evaluate sole-source (e.g.,medical/Rx, disease management, etc. with one vendor) versus multi-source solutions
Financial and Population Health Management:
- Create customized financial management dashboards focused on plan costs, budget and cost share
- Analyze drivers focused on population health analytics such as lifestyle risks, preventative care, key health conditions and compliance with evidence-based medicine
- Facilitate the selection of appropriate vendors and programs to positively impact population health
- Conduct ROI analysis and validation of vendor stated metrics
Implementation:
- HighRoads Contract Service, a component of its HR Control suite, gives you complete visibility into all of your HR service provider and group insurance contracts by storing them in a centralized content library.
- HighRoads Summary Plan Description (SPD) Service, a component of HighRoads' HR Control suite, manages the full SPD lifecycle beginning with a comprehensive discovery analysis to assess your inventory, identifying the current state for each SPD and performing a gap analysis towards full compliance. Negotiated designs and terms utilizing HighRoads' Procurement and Renewal Service feed directly into the SPD.
- Negotiated plan terms including designs, rates and employee contributions are provided to you or your third-party administrator.
- All SPDs are stored and managed in the HighRoads central repository. As SPDs are updated, they can be distributed, in hardcopy and or electronically via a portal, to all participants.
Health and Welfare Consulting Services Covers:
- Medical
- Prescription drug
- Vision
- Stop loss
- Life
- Disability
- Time-off benefits
