Title: Alpha Benefits Group Marketplace Update
1Alpha Benefits GroupMarketplace Update
Welcome!The 7th Annual Healthcare Symposium
- Presented by Rob Heller, President
2Who is Alpha?
- Full Service Employee Benefits Firm
- Brokerage Consulting
- Voluntary Benefits
- Human Resource Support Services
- Retirement Plans
- Executive Benefits
3Who is Alpha?
- Locations
- Plymouth Meeting
- Mechanicsburg
- Bethlehem
4Sister CompanyAlpha Benefit Administrators
- COBRA Administration
- Section 125 Cafeteria Plan
- Premium Only Plans (POP)
- Flexible Spending Accounts (FSA)
- Full Flex Credit Based Plans
- High Deductible Plan Design Administration
- Medical Expense Reimbursement Plans (MERPPlans)
- Health Reimbursement Arrangements (HRA)
- Health Savings Accounts (HSA)
5Reasons to Select Alpha as Your Advisor
- Experience
- Alpha Team!
- Lower Costs
- Larger Block of Business
- Creative Plan Designs
- In-House Administrative Capabilities
- COBRA
- FSA (with debit cards)
- Medical Expense Reimbursement Plans (MERPPlans)
- HSA
- HRA
6Reasons 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 Proccesses Early
7Reasons to Select Alpha as Your Advisor
- Educational Updates
- Bi-Weekly Newsletter
- Periodic Marketplace Updates
- Client Appreciation Breakfast
- HR Training Classes
- Onsite Visits
- Alpha U - NEW!!
8Introducing
- Upcoming Events
- Wednesday, May 21st Keys to Unlocking Difficult
HR Issues - Wednesday, June 11th Assessing Your Retirement
Plan - Wednesday, September 17th Pre-Retirement
Planning For Your Employees - Wednesday, October 15th Human Resources
Technology
9Alpha Wage Survey
Central Pennsylvania Benefits and Wage Survey
- Area Codes 717 and 570
- Current clients who participate get a copy free!
- Non-Clients who participate get a copy at a
reduced cost of 250!
For more information about participating in the
survey, stop by the Alpha booth!
10Announcing
Strategic Alliance With Comprehensive Financial
Associates, Inc. Pennsylvania Pension Planners,
Inc.
- Retirement Plan Analysis
- 401(k) Review
- Communicate and Educate Employees on Retirement
Plans - Lunch-n-Learn Educational Updates
- Pre-Retirement Planning
- Executive Benefits
- Business Succession Planning
11Announcing
HR Technology
- Partnership with HRT Advisors
- HRT is on retainer with Alpha
- HRT will completely review a clients
technology-related HR needs - How to get started?
- Conference call to review current system and to
assess needs
12Medical Renewal Trends
13Strategies to Reduce Healthcare Costs
- Negotiate, Negotiate, Negotiate
- Creative Plan Designs
- MERPPlans
- HSAs
- Wellness Programs
- At least 50 of claims are associated with
behavioral and lifestyle choices!
14High Deductible Update
- Medical Expense Reimbursement Plans (MERPPlans)
Self Insuring All or Part of Deductible - Marketplace Plan Design / Pricing
- MERPPlans / HSA
15MERPPlans By Alpha Benefit Administrators
- Over 20 Million Saved!
- We Administer Over 175 MERPPlans
- 98 MERP Renewals
- 85 of MERPs Renewed with clients buying even
less coverage! - Over 80 of our MERP clients are renewing at less
than a 10 cumulative increase from what their
medical costs were 3 years ago!(Average is less
than 3.2 per year, many paying LESS than 3 years
ago)
16MERPPlans By Alpha Benefit Administrators
- Company A 152 employees 3 ½ yrs into MERP,
cumulative MERP savings from annual renewals
682,842 and able to allocate 158,100 of this
savings to employee HSA accounts! - Company B 30 employees 3 ½ yrs into MERP,
cumulative MERP savings from annual renewals
70,453. Paying (11.7) less in total medical
expense than 3 ½ years ago! - Company C 52 employees 3 yrs into MERP,
cumulative MERP savings from annual renewals
246,537 and able to allocate 48,000 of this
savings to HSA accounts! Paying (10.2) less in
annual medical expense than 3 years ago!
17MERPPlans By Alpha Benefit Administrators
Alpha Administering In-House
- Over 80 of our clients changed carriers at least
twice in the past 5 years! - Insurance carriers have not been successful
- One Stop Shopping
18Donna Judds 3 Top Administrative Issues
- Let carriers know about full-time students
- Return form for Coordination of Benefits
- Make sure Date of Hire / Effective Date is on
employee applications
19Warning! Be Careful When Changing Carriers
- Benefits May Not Be 100 Equal
- Deductible Plan Year vs. Calendar Year
- Difference in Rx Formularies
20Pharmacy Developments
- Many Popular Drug Patents Are Expiring
- Some Over-the-Counter Meds Covered Under
Prescription Benefit Plans - 4 Prescriptions at Many Large Retailers
21 22- How to get your PHR and SPHR re-certification
credits for todays seminar? - Stop by the Alpha booth in the back to pick up
the form!
23- This presentation is available on the
web!http//www.alphabenefits.com/seminar - Also, visit our website to sign up for ourfree
bi-weekly newsletter!