|Group Health and Benefits|
The Ross Companies offers strategic consulting services to mid-size and large employer sponsored plans. We strive to align employee health and benefit plans with business needs and human resource strategies.
We offer strategic planning to clients who want to know if they have the right program, are spending a reasonable amount, have the right vendors or are paying fair fees or commissions for the work performed by their advisors. We work closely with clients to understand their business needs and human resource philosophy. Our goal is not to supplant existing advisors or to perform traditional plan management work, but to offer a more strategic view of benefits than clients might be receiving.
Strategic Plan: Create a multi-year plan to manage all benefits including a strategy for the Patient Protection and Affordable Care Act
Guiding Principles: Create principles for all benefits or for each benefit plan so that senior management and those responsible for managing plans fully understand what is expected. Topics addressed include competitiveness, plan sponsor and participant affordability, participant appreciation, funding and financing, cost management, legal compliance and more
Costs: Review historical costs and establish benchmarks to monitor plans using key performance indicators
Care and Cost Management: Develop a strategy to encourage participants take care of themselves to lower costs over time and assure workers are more productive and engaged in their work. The most advanced technique is "Value Health"
Advisors: Review major consultant or broker activities to determine whether they are performing as agreed; also examine total advisor compensation for appropriateness and fairness given the work performed
Mergers, Acquisitions and Divestitures: Assist clients in formulating a strategy in anticipation of an event; then work with client teams to perform due diligence to assure prices paid or received are fair and reasonable given benefits liabilities
Clients often have a specific need for an independent consultant. Examples could be a problem with a vendor, anticipating buying or selling a company or division, or an independent, top down, review of an existing program.
We might also conduct “event analyses” to see how all benefit plans provide expected benefits for each life event, such as: illness, disability, retirement and death.
When these situations arise, The Ross Companies always clarifies the need, scope, associated timing and deliverables in writing before any work is started.