An ounce of planning is worth a pound of cure.
Intelligent benefit planning means putting an end to shopping plans every time costs increase. Strategic planning establishes more predictable premiums, more efficient claims processing and the selection of more appropriate programs by analyzing data and improving decision making.
BIM's strategic process scrutinizes the big picture, then fine tunes it to match your long-term human capital objectives.
The process.
First, BIM benefit advisors work with a client to establish objectives, set timetables and gather information on current programs. Data collection involves plan documents, rate histories, census data, employee surveys, focus group facilitation and discussions on large and on-going claims.
After a comprehensive audit of current programs, BIM advisors prepare bid specifications and submit them to select markets. Proposals are typically collected within a month. BIM analysts then study and compare proposals and costs to determine recommendations.
Once appropriate programs are chosen, BIM coordinates plan implementation within the client's organization. BIM professionals educate Human Resource staff members and employees, and assist new carriers in obtaining relevant employee data. BIM may also aid in canceling current carriers.
Following implementation, BIM account managers meet regularly with key managers and employees to gauge overall success of new programs. Account managers consistently review and monitor client experience reports to identify potential problem areas and suggest remedial actions. BIM also keeps clients abreast of state and federal regulations impacting a client's programs, and negotiates plan renewals with carriers.
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