Michael Insurance Planning has been a leader in the insurance consulting arena since our founding in 1975. Known area wide for our breadth of knowledge and professionalism, we continually redefine our local marketplace by following a well conceived plan to better serve the needs of our current and emerging clients.
Our List (click on the following subjects to learn more):
Plan Evaluation
Benefits Acquisition
Renewal StrategiesImplementation
Continued Employee Involvement
Local Service
Legislative Compliance
Self-Funding Support
Plan Evaluation
We will review your existing plan and determine if current benefits are cost effective, in compliance with government regulations, are comparable to current industry trends, and to insure appropriate managed care programs are implemented.
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Benefits Acquisition
Our professional employee benefit consultants will obtain competitive quotes from quality insurance providers, program administrators and/or Third Party Administrators. These bids are then reviewed and formed into a competitive analysis and report.
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Renewal Strategies
Prior to existing plan renewal, an analysis of premiums, claims, renewal premium changes and benefit changes is prepared. Competitive bids are acquired prior to renewal to insure current benefits are meeting or exceeding industry standards.Implementation
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Prior to the effective date of a new plan or a change, meetings are held with you and your staff, consultants from our agency, and representatives of the insurance carrier. These informative meetings have been developed to contain plan costs while ensuring a full understanding of benefits by each member.Continued Employee Involvement
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Communication is the number 1 tool to an educated workforce. Employee education does not stop when implementation is finished. Representatives from Michael Insurance Planning, Inc., continue to be involved with employee meetings, committee attendance and employee surveys.Local Service
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We welcome the chance to resolve any conflict and show our commitment by bringing value to our customers. Our associates are focused on the day to day aspects of service concerns between employees, employers and insurance providers. By knowing our clients we may better provide for their needs.Legislative Compliance
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In an ever-changing regulatory environment we provide assistance with COBRA, ERISA, FMLA, ADA, HIPAA, Section 125 and Form 5500. Any new legislation affecting our client's benefits is communicated on a timely basis in order to maintain compliance while effectively serving our customer's needs.
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Self-Funding Support
An effective alternative to traditional health plans is a tailored self-funded benefit package. Although more complex than the usual form of funding, self-funding may be the best alternative in some cases. Knowledgeable representatives from Michael Insurance Planning, Inc. will handle the following:Return to List
- Negotiations with TPAs, PPOs and the Service Providers
- Plan Design and Changes
- Contract and Rate Verification
- Stop Loss Insurance Bids
- Cost Analysis & Rate Setting
- Claims Reporting
- Local Claims Assistance
- Actuarial Certification of Reserves
