HOW WE WORK
How Can You Get Your Own 24 Hour Insurance Advocate To Protect You From Insurance Companies And Government Compliance Laws While Reducing Company Paperwork & Administration?
The Medical Link Process Shows You How To Do All this While Saving an additional $5,000 Or More Per Year!
 The professionals of The Medical Link understand employers’ concerns regarding the escalating cost of employee benefits and, at the same time, recognize the need to offer comprehensive programs to attract talented employees for our client firms. We specialize in helping companies reduce such expenses while maintaining industry-competitive benefit standards.
We work closely with you to identify the role of benefits within your company and develop a strategy that can help you reach both short and long-term objectives. Our services begin with a comprehensive review of your current programs, identify potential areas for cost savings and compare them with other plans offered in similar industries. At the completion of our evaluation, we design a program incorporating strategies such as flexible benefits levels, pre-tax vehicles and managed care to provide a format that fits your goals and objectives.
We will review your progress towards the established strategy through the plan year. This frequency of service ensures that your programs will always be on track, ensuring you have a plan that is both cost effective and current.
A comprehensive benefits study includes a review and analysis of group life, medical, dental, disability and voluntary programs. Based on your company's specific objectives and priorities, we address the issues objectives along the following lines:
A. Evaluation of Current Benefit Plans
- The Medical Link will provide you with a comprehensive review of your entire employee welfare benefit package. This will include analysis of the design and cost effectiveness of your benefit programs. The objective will be to review each aspect of each plan in order to make sure the desired level of benefits are provided while, at the same time, minimizing company expense. We will address the options available to you both in benefit and funding design, discussing the appropriateness of changing current benefit levels, employee cost sharing, traditional vs. alternative premium funding designs and the use of a premium conversion document.
B. Market Survey
- The competitiveness of each carrier's health insurance contract changes each year. Plans that were competitive in price when first purchased often become less competitive over time. Going to the marketplace every few years is a necessity to determine if the price of benefits is over or under priced. The objective of this portion of our work is twofold: (1) Comparing the cost of the current benefit plan to comparable plans offered by other carriers, and (2) pricing plans with alternative designs. The results of this survey will be presented in our report. Benefits of all competitive carriers will be compared and the costs associated with the plans will be analyzed.
C. Report
- Our findings will be presented in a report that will include a review of existing benefits, a spreadsheet comparing competitive proposals from several insurance carriers to assess a reasonable level of insurance cost in today's market, a discussion of plan funding design alternatives and cost containment issues.
This process requires less than 30 minutes of the executive staffs time. We handle everything.
The final report will contain recommendations that will dramatically increase employee coverage with BETTER benefits while trimming the fat and and saving you thousands!
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