Employee Benefits

PRM Consulting provides a comprehensive array of health and welfare benefit consulting services in the general areas of design, finance, communications, administration, monitoring and control, and vendor management. Major service areas include:

Strategy Development & Plan Design

• Strategic planning, cost management and collective bargaining
• Aligning benefit plans and policies with human resource and business objectives
• Health and welfare consulting, including flexible benefit plan development, integrated disability management, paid time off, retiree benefit consulting and FAS 106 actuarial valuations, renewal rate analysis for self-funded plans, compliance, nondiscrimination testing, and reporting and disclosure
• Claims payment auditing and analysis

Benefit Plan Evaluation & Management

• Vendor selection
• Network access analysis including specialty networks
• Health plan report cards
• Vendor implementation and renewal, including renewal negotiations
• Ongoing plan management, including contract administration, periodic reporting, on-site reviews, and performance standards and guarantees.

Financial Analysis

• Experience monitoring
• Vendor renewals
• Reserving, accruals, and rate and contribution setting
• Alternative financial arrangements, including measures to improve cash flow and lower costs with or without significant liability transfer.
• Actuarial measurement and forecasting, including retiree health and welfare benefit obligations, financial modeling, FAS 106 valuations, and other knowledgeable PRM consultants are available to help our client’s with today’s timely benefit issues