Presentation on theme: "YOUR LOGO Navigating the Healthcare Market in Tough Economic Times Welcome to the 8th Annual Alpha Benefits Healthcare Symposium."— Presentation transcript:
YOUR LOGO Navigating the Healthcare Market in Tough Economic Times Welcome to the 8th Annual Alpha Benefits Healthcare Symposium
YOUR LOGO Today’s Agenda 8 th Annual Healthcare Symposium 8:30 to 9:00Opening Remarks/Marketplace Update Presented by Rob Heller 9:00 to 9:30Creating a Survival Plan for Tough Economic Times Presented by Kimberly Nash, SPHR 9:30 to 10:15Keynote Address Presented by Dr. Reed Tuckson 10:15 to 10:30Break 10:30 to 12:00Panel Discussion 12:00 to 1:00Client Luncheon
YOUR LOGO Who is Alpha? Full Service Employee Benefits Firm Brokerage & Consulting Voluntary Benefits Human Resource Support Services Retirement Plans Executive Benefits
YOUR LOGO Who is Alpha? Locations Plymouth Meeting Mechanicsburg Bethlehem Pottsville
YOUR LOGO Alpha Benefits Joins Brown & Brown Family Alpha acquired by B&B June 1, 2008 7th Largest Broker in the US 1 Billion in Revenue in 2009! Well Capitalized Decentralized Philosophy
YOUR LOGO Advantages with Brown & Brown No changes! Alpha’s philosophy and staff are here to stay! Negotiating Power Property & Casulty Opportunities 200 offices across the country = collective knowledge! Clients with multi-locations Ability for Alpha to make acquisitions and aquire talent
YOUR LOGO Reasons to Select Alpha as Your Advisor Experience Alpha Team! Lower Costs Larger Block of Business Creative Plan Designs Administrative Capabilities COBRA Administration FSA with Debit Cards Medical Expense Reimbursement Plans (MERP™Plans) HSA HRA
YOUR LOGO Reasons to Select Alpha as Your Advisor One Stop Shopping HR Services – Kimberly A. Nash, SPHR Answer HR Questions Employee Handbooks HR Audits Training Programs Wage Surveys Personalized Claims Assistance Initiate Renewal Processes Early
YOUR LOGO Reasons to Select Alpha as Your Advisor Educational Updates Bi-Weekly Newsletter Periodic Marketplace Updates Client Appreciation Breakfast HR Training Classes Onsite Visits Alpha University
YOUR LOGO Our Financial Partners Retirement Plan Analysis 401(k) Review Communicate and Educate Employees on Retirement Plans Lunch-n-Learn Educational Updates Pre-Retirement Planning Strategic Alliance With Comprehensive Financial Associates, Inc. & Pennsylvania Pension Planners, Inc.
YOUR LOGO Our HR Technology Partner Partnership with HRT Advisors HRT is on retainer with Alpha HRT will completely review a client’s technology-related HR needs How to get started? Conference call to review current system and to assess needs HR Technology (HRT)
YOUR LOGO Our Partner for Financial Services Executive Benefits Business Owner Succession Planning Individual Life, Disability, Long Term Care Sagemark Financial Advisors John Coll, Jr., JD, LLM
YOUR LOGO Our Partner for Administrative Services COBRA Administration HSA, HRA, MERP Administration Section 125 Administration Benefit Design Specialists, Inc. (BDS) formerly Alpha Benefit Administrators
YOUR LOGO High Deductible Update Most clients have Medical Expense Reimbursement Plans (MERP) Moving to higher deductibles Not as many HSA’s Unique to Central PA
YOUR LOGO BDS Admin vs. Carrier Admin Seamless Sometimes cost built into premium Easier when moving carriers Find errors Less claims payments Great customer service One call to Alpha No upfront funding Any size Insurance Company BDS
YOUR LOGO Average Upfront Renewals MonthRate Increase January16.92% February18.04% March20.85% April26.58% May21.17% June26.83% 6 Month Average Rate Increase: 21.73%
YOUR LOGO Small Group Marketplace Rating changes for: Trend Demographics Adjustments due to diagnostic codes
YOUR LOGO Competition Suppressed Rates Aging PA Population Lack of Provider Competition Why are Central PA Rates Increasing Faster than the National Average?
YOUR LOGO Healthcare Where do we go from here?
YOUR LOGO Healthcare Drivers Aging Population Medical Technology Brokers Providers Insurance Companies Individual Lifestyle Choices Information Technology Government Attorneys Pharmaceutical Companies
YOUR LOGO Everybody has to come together… Proposals right now don’t address this.
YOUR LOGO What’s an Employer To Do?? Negotiate Look at all Alternatives Funding Approaches Wellness Get an Early Start Keep an Eye on Legislation Partner With a Broker You Trust
YOUR LOGO Great Healthcare Blog by Bob Laszewski
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