Group Health and Benefits
In a similar manner as provided by UIC’s Property & Casualty teams, UIC’s group health and benefits arm obtains, negotiates, and compares proposals in order to enable our clients to make educated business decisions.
As healthcare costs continue to rise employers are seeking alternative benefit plan strategies. UIC reviews and advises as to the advantages and disadvantages associated with Fully Insured plans, Administrative Services Only, and Third Party Administration plans. Alternative claim payments strategies including Reference Based Pricing, Value Based Reimbursement, and Cost Plus are also reviewed as methods in which to reduce costs without increasing employee out of pocket costs or reducing benefits.
Prescription carve out strategies are reviewed in order for our clients to be better enabled to determine which Prescription Benefit Manager (PBM) can best manage care, while achieving the greatest level of cost savings. In a similar manner Dental, Vision, Group Life Insurance, AD&D, LTD, STD and supplemental or any voluntary benefit programs are reviewed and marketed for purposes of determining the most favorable rates and contractual conditions that apply.