For over 15 years, KTP has achieved a track record of helping our clients consistently provide retiree health care insurance benefits at a cost below national averages. No one factor can explain this performance. We believe that achieving results of this caliber requires a day-in day-out focus on the drivers of cost for these benefits. Our relentless focus on existing and emerging opportunities for maximizing cost-effectiveness produces results that we believe speak for themselves.
Account Management Services uses a dynamic process which includes:
- Reviewing their short-term goals and long-term objectives
- Analyzing existing benefit plans to determine potential changes and improvements
- Developing a retiree health benefit strategy based on the client’s goals and objectives
- Designing specific, customized medical and prescription drug solutions for pre-65 and post-65 retirees
- Providing preliminary legal, accounting, actuarial and regulatory counsel
- Structuring plans based on risk tolerance, funding preferences, and contractual obligations
- Auditing existing benefit plans
- Negotiating the most favorable pricing and terms with carriers, pharmacy benefit managers, network providers, and third-party administrators by conducting an aggressive and competitive bidding process
- Negotiating renewal rates and terms
- Implementing programs, providing employee communication materials, and providing continuing administrative and compliance support
- Analyzing claim data and providing monthly financial reports
- Communicating changes and transitions through a single point-of-contact
- Evaluating and tracking market dynamics and legislative changes to ensure continuous strategy optimization
Comprehensive Service Packages include a variety of day-to-day plan management and strategic planning initiatives:
- Providing customized benefit manuals, plan documents, enrollment kits and renewal documents
- Creating dedicated private labeled benefits and HR portals and financial reports
- Call center support
- Claims administration and resolution
- Ad hoc marketing documents and strategies
- Eligibility management services including maintenance and verification
- Assisting with federal and state regulation compliance
- Preparing 5500 forms
- Completing retiree/employee benefit surveys
- Conducting educational seminars
- Member advocacy
- Additional services such as customized communications materials, end of year benefit statements, plan summaries and other educational material
- On-going strategic advice based on evolving market dynamics and changing regulatory requirements
We also collaborate with a select group of proven strategic partners to provide even more expertise and plan management services:
- ERISA and employment law attorneys
- Accountants
- Active employee benefit consultants and advisors
- Actuaries
- Prescription drug consultants/claims auditors
- Employee communications experts
- HRA, COBRA and Flex administrators
- Data analytics experts
If you have any questions regarding our services, or would like more information, please contact: Nicole Allen at nallen@ktpadvisors.com or Kate Beebe at kbeebe@ktpadvisors.com.