Monday, September 25, 2017

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Most companies rely on data and statistics to make critical business decisions, and business that sponsor self-funded benefit plans are especially in need of reliable information.  Accurate plan performance and financial data are key to the health and success of a plan.  As a member of United Benefit Advisors®, we can offer you the services of The Medical Reserve Calculator, which can allow your business to eliminate the guesswork of calculating claim runout liability and reserve estimates.  With the Medical Reserve Calculator, we can help you establish appropriate reserve levels, identify claims patters and third-party administrator turnaround-time issues, and more -- all which can help you control costs and run your plan more efficiently.

Click here to download the Medical Reserve Calculator PDF

Apart from helping your company establish appropriate reserve levels for a self-funded plan, the Medical Reserve Calculator:

  • Estimates outstanding IBNR claims
  • Protects self-funded plans from unknown claims exposure
  • Identifies and stabilizes claims fluctuations
  • Allows early identification of per-employee claim-cost trends
  • Estimates appropriate carrier-held reserves levels for fully insured plans

With this added consultative tool, we can help you:

  • Develop completion rations and completion factors
  • Generate necessary monthly and cumulative reserve levels
  • Allow for the inclusion of client-specified margins
  • Calculate monthly claims factors per employee or per Member
  • Illustrate premium vs. claims loss rations for fully insured plans

The Medical Reserve Calculator was developed by Reden & Anders, one of the nations largest and respected actuarial firms.

 

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1200 Nevada St. #102
Redlands, CA 92374
Phone: 909-792-1070
Fax: 909-792-4099
csr@fredericksbenefits.com

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