Cosmos Services (America) Inc. seeks to understand our clients' long-term objectives in order to provide a sound employee benefit plan today and in the years to come. We have developed a core-planning process, which begins with the design of the plan followed by the execution of the plan. We continually analyze ways to improve the plan efficiency. Consistent communication with the client is the foundation for a successful plan. Our approach includes the following steps:
I.
Discuss and assess the client's overall business objectives and
specific objectives for the employee benefits program
Provide funding alternatives
Analyze risk options
Assess current benefits and company culture
Consider new benefit options
Define employee contribution strategies
Determine future needs of employees
Review vendor selection
Benchmark data
II.
Develop and Submit the Request for Proposal
Gather census information
Look at the plan design and experience
Analyze each and which plans to be marketed
III.
Analyze and Evaluate Vendor Proposals
Follow up with each vendor
Compare current benefit plans and costs to proposed benefits and
costs
Negotiate with vendors
Coordinate vendor presentations
Present recommendations
Finalize proposal and prepare for implementation
IV.
Implementation of new Vendor(s)
Coordinate vendor/client meetings to review final benefits and
rates
Design employee communications
Assist with implementation schedule including employee meetings,
banking arrangements, and administrative review
Confirm timely delivery of ID cards
Review accuracy of plan booklets and Summary Plan Description
(SPDs)
Review contacts and policies
V.
Provide ongoing Service
Assist with vendor administrative and financial services
Provide claims assistance and support
Provide legislative updates
Develop a service calendar for regular meetings and/or conference
calls
Conduct regular review of billings and claim reporting (self
funded clients)
Provide consultation on Human Resources issues
VI.
Prepare for next Renewal Period
Determine renewal objectives at mid-year
Review projected renewal expectations
Analyze and negotiate renewal
Facilitate marketing process
Note: Nothing stated herein is intended to supersede or replace any provisions of the actual insurance policies and the coverage and risks underwritten by those policies. Insurance policies contain many conditions, exclusions and other terms which are not explained or described in this summary which is only for general information purposes. You must always review the actual insurance policies for the precise wording of the coverage, terms, conditions and limits which apply to you and your particular insurance.
