Page 2 - ENA Storyboard
P. 2
Lockton’s captive practice ENA | Lockton’s capabilities
Lockton’s stop loss specialty practice is comprised of more than 30 Associates dedicated to stop loss administration, including captives, large claim clinical review, and trend management.
Your stop loss team will work with our captive experts to assess the feasibility and opportunity to leverage a captive stop loss model, including our own captive, LockSHIP.
Program design environment COMPLETE FLEXIBILITY AND AUTONOMY OVER YOUR BENEFITS PLAN
FOR THE SMALL- TO MID-SIZE EMPLOYER
LockSHIP is a member-owned beneits solution that lets you experience the key advantages of a self-funded plan while sharing the risk with other Underwritten on your own Determine your program design, Stop-loss policy issued by Swiss Choose your network and
members. This program will facilitate transparency of claims and impact long-term cost drivers by combining self-insurance and other key services demographics, experience and deductibles, copays and employee Re, AM Best A+ rating. claims administrator.
and analytics. LockSHIP will create an opportunity for you to change the trajectory of the healthcare cost trend. program design. contributions.
Best-in-class stop loss pricing Complete autonomy on plan design, Choice of third-party administrator Clinical claims consulting for high- ADVANTAGES
and contract terms including deductibles and copays (TPA) with select preferred rates cost claimant (HCC) management
01 02 03 04
COST STABILITY SELF-FUNDING EFFICIENCIES LOWER STOP-LOSS RATES CLAIMS TRANSPARENCY
FULLY INSURED LockSHIP Self-funded Avoid market swings Avoid typical fully insured taxes Group buying power Needs-based strategies
• Carrier-driven pricing with higher margins • Reduced margins and less volatility with group • Reduced ixed costs and increased volatility Rate stability Reduce ixed costs Market leverage on rates and terms Risk patterns identiied for medical/Rx
purchasing year-over-year Reduce margins Focus on cost drivers
• Lack of claims transparency
Optimal health plan funding assessment: Used in conjunction with other
actuarial tools; the funding assessment evaluates the optimal funding- • Claims transparency
• Carrier-driven pooling levels and charges • Claims transparency
arrangement as part of the strategic planning process
• Ability to share in stop loss proitability • Proits retained by stop loss carrier
Financial reporting HR technology and outsourcing practice
Demographic risk analysis tool Network (NetFit) Analysis SAMPLE — CLIENT PREMIUM VS. CLAIMS JANUARY Lockton’s HR technology and
outsourcing practice
Evaluates the population risk to ensure alignment and a cost effective Objective Advisor
strategy relative to plan design and contributions. The tool assists with Lockton is 100 percent vendor and solution neutral. We work with all
technology vendors and solutions in the marketplace to find the ideal fit
migration modeling as part of the inancial projecting and budgeting for your organization.
Demographic Risk Analysis tool: Evaluates the population risk to ensure alignment and a cost effective
process, as well as identifying cost savings opportunities focused on Solution Matchmaker
strategy relative to plan design and contributions. The tool assists with migration modeling as part of the
Medicare education, eligibility management, etc. opportunities focused on Our years of industry experience give employers an insider’s perspective
financial projecting and budgeting process, as well as identifying cost savings
on vendors, as well as which best practices fit their long-term needs.
Medicare education, eligibility management, etc. Project Manager
Demographics Total Eligible Waive Total Enrolled Buy-Up Plan Base Plan HDHP Lockton is the Project Manager for your team and will advocate on your
Scope of services
behalf during vendor selection and implementation. We will keep BOE
Plan Value 0.76 0.84 0.75 0.67 Group's resources on track to ensure go live success.
# of Employees 446 202 244 119 31 94
% of Employees Enrolled 100% 45.3% 54.7% 49% 13% 39% 1
% Male 25% 21% 28% 24% 35% 30% HR/payroll Time and Benefits Talent ACA
% Female 75% 79% 72% 76% 65% 70% attendance administration management
Average EE Age (Yrs) 35.9 31.6 39.5 42.9 37.8 35.7
Number of EE Age >=65 7 2 5 4 0 1 • • Global • • Scheduling • • Call center • Recruiting and • Eligibility and
tracking
applicant tracking
% over 65 1.6% 1.0% 2.0% 3.4% 0.0% 1.1% Dashboard and Information and Dashboard and • Learning • Workforce
data integration
analytics
analytics
Average Tenure (Yrs) 3.9 2.6 5.0 6.8 3.9 3.2 • Real-time • Biometric, PC- • Carrier feed and • Performance • management
billing
Compliance
processing
based, swipe cards
Est Mem to EE Ratio - - 1.6 1.7 1.6 1.5 • Tax services • Mobile capabilities reconciliation • Compensation reporting
% Single - - 70% 63% 71% 79% • Decision support • Succession • 1094-C and
1095-C reporting
% w/Dependents - - 30% 37% 29% 21% • New-hire and life-
event processing
Average Salary $45,190 $38,922 $50,378 $58,034 $42,440 $43,304
Demographic Risk Factor 1.04 0.92 1.14 1.27 1.02 1.01
Geographic Relativity 1.01 1.00 1.02 1.03 1.01 1.00
Total
Total
Generation Eligible Waive Enrolled 2
Communications 11.9% 0.0% 15.2% Compliance services
0.0%
0.0%
Silent Generation (1927-1945)
7.9%
Baby Boomers (1946-1964)
14.9%
32.0%
24.2%
Gen X Baby Busters (1965-1980)
Based on best practices and years of helping our clients execute benefits communication strategies, we have brought together some of our best and most Your Lockton team will keep you informed of trends, recent insurance/benefits developments, labor, and legislative changes through newsletters, bulletins,
52.9%
77.2%
63.9%
Gen Y Millennials (1981-2000)
0.0%
Gen Z Digitals (2001+)
0.0%
0.0%
effective materials into one place. Below is a sample of some of the types of communications we provide — many available to you day one! and other venues provided through our internal Compliance Department.
100%
100%
100%
Total
Personalized with your branding strategy IRS 401(k) RETIREMENT SAVINGS PLAN ANALYSIS COMPLIANCE AUDIT DOCUMENT PREP PUBLICATIONS
Maximums
Your inancial security is important to you, your family, and to us as your
For 2018, you can contribute up to 401(K)
$18,500 to your 401(k) account. employer. We want you to feel secure and prepared for life after your
If you are age 50 or will turn age
• Video library • Posters 50 by December 31, you may career. In partnership with [Carrier], our 401(k) plan is designed to help AND ADVICE AND REPORTING AND REVIEW AND PRESENTATIONS
you plan ahead and feel prepared.
contribute an additional “catch-up”
contribution of $6,000.
How the Plan Works
Employees are eligible to join the plan [customize as needed]
You can contribute before-tax dollars to your 401(k) account through
• Annual beneits enrollment • Postcards You can contribute after-tax dollars to your Roth 401(k) account
payroll deductions (up to the annual IRS limits)
through payroll deductions (up to the annual IRS limits); your savings
are not taxed when you withdraw them at retirement
guide • Email campaign 20XX The company may match up to [x] % of your contributions on a pay LIFE AND DISABILITY • ERISA and state insurance law • Plan compliance and required • Health and welfare plans • Seminars and workshops
What is Evidence of
INSURANCE
period basis once you become eligible to participate
Insurability (EOI)?
If EOI is required this means you
You choose how to invest your money in a variety of investment
Life and disability insurance is provided through [Carrier].
must provide certain information
options
about your health in order for the
insurance company to review your
information and approve you for
• New hire guide BENEFITS You are always 100% vested in your own contributions Basic Life and Accidental Death and • COBRA and HIPAA notices • Summary plan descriptions • Health reform updates
Dismemberment (AD&D)
coverage.
Your company contributions are subject to a vesting schedule of
ENROLLMENT
[insert details]
The company automatically provides you a beneit of [#] times your
• Monthly wellness [Carrier] Tools not previously waived coverage, annual salary (up to $XXX,XXX), at no cost to you, for life insurance and • Health plan audits
If you are newly eligible and have
accidental death and dismemberment insurance.
you can elect up to the guaranteed
issue amount without submitting
EOI. You may be required to
[Carrier] offers retirement calculators and investment services which allow Employee Voluntary Life and AD&D Insurance
submit EOI if you have previously
waived this coverage or if you
• Enrollment PPT template newsletters you to choose your own investments options or use a managed account You are eligible to purchase additional life insurance in increments of [X] • Tax code — health and welfare • Review of service agreements • Webex presentations
plan which does the hard work for you. elect above the guaranteed issue
amount.
times your annual salary up to a maximum beneit of [$XXX,XXX]. The
Remember to add a beneiciary for your 401(k) on the [Carrier] website
same coverage options exist for voluntary AD&D insurance.
through their convenient online beneiciary tool. Please note, you will
need to elect a beneiciary for both your life insurance when you elect Spouse and Dependent Voluntary Life and AD&D (e.g., Section 125) • Plan procedure protocols
Insurance
your life insurance, as well as through [Carrier] for your 401(k) plan.
• Flyers • Text/mobile campaign This Beneit Enrollment Guide is only intended to highlight some of the major beneit provisions of the Company plan If you elect voluntary life coverage for yourself, you can also elect • Compliance alerts and e-blasts
voluntary life coverage for your spouse in coverage increments of
and should not be relied upon as a complete detailed representation of the plan. Please refer to the plan’s Summary
[$X,XXX] up to a maximum of [$X,XXX]. Dependent child life coverage
Plan Descriptions for further detail. Should this guide differ from the Summary Plan Descriptions, the Summary Plan
Descriptions prevail. 12 20XX is available in coverage levels of $2,000, $5,000, or $10,000. Voluntary
AD&D options are in increments of [#] times your annual salary up to a
© 2018 Lockton, Inc. All rights reserved. maximum beneit of $XXX,XXX. • Tax code — retirement • 5500 preparation
This publication contains important information [Rev 07/30/18] HC\EB\Shared Resources\EE Communications\OE Newsletter\Template Samples\2018-19\Chicago\Suite 1\BE Suite 1.pdf • Compliance newsletters
about your employee benefit program. Short Term Disability (STD)
BENEFITS The company provides short term disability (STD) insurance to help (e.g., 401(k), 403(b)) (current and delinquent)
Please read thoroughly.
provide inancial security until you get back on your feet and return to
work. The plan covers [XX%] of your pre-disability earnings for up to
lockton.com | © 2021 Lockton Companies. All rights reserved. ENROLLMENT [XX] days. There is a [#]-day waiting period for illnesses, but coverage for • Employer guides
an accident will begin immediately.
Long Term Disability (LTD)
The company provides long term disability (LTD) insurance to offer you • Form 1094/1095 ACA Reporting
inancial assistance in the event you are unable to work for an extended
period of time. The plan covers [XX%] of your pre-disability earnings,
but you have the option to purchase our buy-up LTD coverage for an
[Rev 03/09/21] P\ENA 21Storyboard 671179.pdf doc # 10 additional [XX%] of coverage. The maximum beneit of base coverage is Support • Calendars and notice matrices
[$X,XXX] monthly; if you purchase the buy-up LTD coverage you may
receive an additional [$X,XXX] monthly.
Lockton’s stop loss specialty practice is comprised of more than 30 Associates dedicated to stop loss administration, including captives, large claim clinical review, and trend management.
Your stop loss team will work with our captive experts to assess the feasibility and opportunity to leverage a captive stop loss model, including our own captive, LockSHIP.
Program design environment COMPLETE FLEXIBILITY AND AUTONOMY OVER YOUR BENEFITS PLAN
FOR THE SMALL- TO MID-SIZE EMPLOYER
LockSHIP is a member-owned beneits solution that lets you experience the key advantages of a self-funded plan while sharing the risk with other Underwritten on your own Determine your program design, Stop-loss policy issued by Swiss Choose your network and
members. This program will facilitate transparency of claims and impact long-term cost drivers by combining self-insurance and other key services demographics, experience and deductibles, copays and employee Re, AM Best A+ rating. claims administrator.
and analytics. LockSHIP will create an opportunity for you to change the trajectory of the healthcare cost trend. program design. contributions.
Best-in-class stop loss pricing Complete autonomy on plan design, Choice of third-party administrator Clinical claims consulting for high- ADVANTAGES
and contract terms including deductibles and copays (TPA) with select preferred rates cost claimant (HCC) management
01 02 03 04
COST STABILITY SELF-FUNDING EFFICIENCIES LOWER STOP-LOSS RATES CLAIMS TRANSPARENCY
FULLY INSURED LockSHIP Self-funded Avoid market swings Avoid typical fully insured taxes Group buying power Needs-based strategies
• Carrier-driven pricing with higher margins • Reduced margins and less volatility with group • Reduced ixed costs and increased volatility Rate stability Reduce ixed costs Market leverage on rates and terms Risk patterns identiied for medical/Rx
purchasing year-over-year Reduce margins Focus on cost drivers
• Lack of claims transparency
Optimal health plan funding assessment: Used in conjunction with other
actuarial tools; the funding assessment evaluates the optimal funding- • Claims transparency
• Carrier-driven pooling levels and charges • Claims transparency
arrangement as part of the strategic planning process
• Ability to share in stop loss proitability • Proits retained by stop loss carrier
Financial reporting HR technology and outsourcing practice
Demographic risk analysis tool Network (NetFit) Analysis SAMPLE — CLIENT PREMIUM VS. CLAIMS JANUARY Lockton’s HR technology and
outsourcing practice
Evaluates the population risk to ensure alignment and a cost effective Objective Advisor
strategy relative to plan design and contributions. The tool assists with Lockton is 100 percent vendor and solution neutral. We work with all
technology vendors and solutions in the marketplace to find the ideal fit
migration modeling as part of the inancial projecting and budgeting for your organization.
Demographic Risk Analysis tool: Evaluates the population risk to ensure alignment and a cost effective
process, as well as identifying cost savings opportunities focused on Solution Matchmaker
strategy relative to plan design and contributions. The tool assists with migration modeling as part of the
Medicare education, eligibility management, etc. opportunities focused on Our years of industry experience give employers an insider’s perspective
financial projecting and budgeting process, as well as identifying cost savings
on vendors, as well as which best practices fit their long-term needs.
Medicare education, eligibility management, etc. Project Manager
Demographics Total Eligible Waive Total Enrolled Buy-Up Plan Base Plan HDHP Lockton is the Project Manager for your team and will advocate on your
Scope of services
behalf during vendor selection and implementation. We will keep BOE
Plan Value 0.76 0.84 0.75 0.67 Group's resources on track to ensure go live success.
# of Employees 446 202 244 119 31 94
% of Employees Enrolled 100% 45.3% 54.7% 49% 13% 39% 1
% Male 25% 21% 28% 24% 35% 30% HR/payroll Time and Benefits Talent ACA
% Female 75% 79% 72% 76% 65% 70% attendance administration management
Average EE Age (Yrs) 35.9 31.6 39.5 42.9 37.8 35.7
Number of EE Age >=65 7 2 5 4 0 1 • • Global • • Scheduling • • Call center • Recruiting and • Eligibility and
tracking
applicant tracking
% over 65 1.6% 1.0% 2.0% 3.4% 0.0% 1.1% Dashboard and Information and Dashboard and • Learning • Workforce
data integration
analytics
analytics
Average Tenure (Yrs) 3.9 2.6 5.0 6.8 3.9 3.2 • Real-time • Biometric, PC- • Carrier feed and • Performance • management
billing
Compliance
processing
based, swipe cards
Est Mem to EE Ratio - - 1.6 1.7 1.6 1.5 • Tax services • Mobile capabilities reconciliation • Compensation reporting
% Single - - 70% 63% 71% 79% • Decision support • Succession • 1094-C and
1095-C reporting
% w/Dependents - - 30% 37% 29% 21% • New-hire and life-
event processing
Average Salary $45,190 $38,922 $50,378 $58,034 $42,440 $43,304
Demographic Risk Factor 1.04 0.92 1.14 1.27 1.02 1.01
Geographic Relativity 1.01 1.00 1.02 1.03 1.01 1.00
Total
Total
Generation Eligible Waive Enrolled 2
Communications 11.9% 0.0% 15.2% Compliance services
0.0%
0.0%
Silent Generation (1927-1945)
7.9%
Baby Boomers (1946-1964)
14.9%
32.0%
24.2%
Gen X Baby Busters (1965-1980)
Based on best practices and years of helping our clients execute benefits communication strategies, we have brought together some of our best and most Your Lockton team will keep you informed of trends, recent insurance/benefits developments, labor, and legislative changes through newsletters, bulletins,
52.9%
77.2%
63.9%
Gen Y Millennials (1981-2000)
0.0%
Gen Z Digitals (2001+)
0.0%
0.0%
effective materials into one place. Below is a sample of some of the types of communications we provide — many available to you day one! and other venues provided through our internal Compliance Department.
100%
100%
100%
Total
Personalized with your branding strategy IRS 401(k) RETIREMENT SAVINGS PLAN ANALYSIS COMPLIANCE AUDIT DOCUMENT PREP PUBLICATIONS
Maximums
Your inancial security is important to you, your family, and to us as your
For 2018, you can contribute up to 401(K)
$18,500 to your 401(k) account. employer. We want you to feel secure and prepared for life after your
If you are age 50 or will turn age
• Video library • Posters 50 by December 31, you may career. In partnership with [Carrier], our 401(k) plan is designed to help AND ADVICE AND REPORTING AND REVIEW AND PRESENTATIONS
you plan ahead and feel prepared.
contribute an additional “catch-up”
contribution of $6,000.
How the Plan Works
Employees are eligible to join the plan [customize as needed]
You can contribute before-tax dollars to your 401(k) account through
• Annual beneits enrollment • Postcards You can contribute after-tax dollars to your Roth 401(k) account
payroll deductions (up to the annual IRS limits)
through payroll deductions (up to the annual IRS limits); your savings
are not taxed when you withdraw them at retirement
guide • Email campaign 20XX The company may match up to [x] % of your contributions on a pay LIFE AND DISABILITY • ERISA and state insurance law • Plan compliance and required • Health and welfare plans • Seminars and workshops
What is Evidence of
INSURANCE
period basis once you become eligible to participate
Insurability (EOI)?
If EOI is required this means you
You choose how to invest your money in a variety of investment
Life and disability insurance is provided through [Carrier].
must provide certain information
options
about your health in order for the
insurance company to review your
information and approve you for
• New hire guide BENEFITS You are always 100% vested in your own contributions Basic Life and Accidental Death and • COBRA and HIPAA notices • Summary plan descriptions • Health reform updates
Dismemberment (AD&D)
coverage.
Your company contributions are subject to a vesting schedule of
ENROLLMENT
[insert details]
The company automatically provides you a beneit of [#] times your
• Monthly wellness [Carrier] Tools not previously waived coverage, annual salary (up to $XXX,XXX), at no cost to you, for life insurance and • Health plan audits
If you are newly eligible and have
accidental death and dismemberment insurance.
you can elect up to the guaranteed
issue amount without submitting
EOI. You may be required to
[Carrier] offers retirement calculators and investment services which allow Employee Voluntary Life and AD&D Insurance
submit EOI if you have previously
waived this coverage or if you
• Enrollment PPT template newsletters you to choose your own investments options or use a managed account You are eligible to purchase additional life insurance in increments of [X] • Tax code — health and welfare • Review of service agreements • Webex presentations
plan which does the hard work for you. elect above the guaranteed issue
amount.
times your annual salary up to a maximum beneit of [$XXX,XXX]. The
Remember to add a beneiciary for your 401(k) on the [Carrier] website
same coverage options exist for voluntary AD&D insurance.
through their convenient online beneiciary tool. Please note, you will
need to elect a beneiciary for both your life insurance when you elect Spouse and Dependent Voluntary Life and AD&D (e.g., Section 125) • Plan procedure protocols
Insurance
your life insurance, as well as through [Carrier] for your 401(k) plan.
• Flyers • Text/mobile campaign This Beneit Enrollment Guide is only intended to highlight some of the major beneit provisions of the Company plan If you elect voluntary life coverage for yourself, you can also elect • Compliance alerts and e-blasts
voluntary life coverage for your spouse in coverage increments of
and should not be relied upon as a complete detailed representation of the plan. Please refer to the plan’s Summary
[$X,XXX] up to a maximum of [$X,XXX]. Dependent child life coverage
Plan Descriptions for further detail. Should this guide differ from the Summary Plan Descriptions, the Summary Plan
Descriptions prevail. 12 20XX is available in coverage levels of $2,000, $5,000, or $10,000. Voluntary
AD&D options are in increments of [#] times your annual salary up to a
© 2018 Lockton, Inc. All rights reserved. maximum beneit of $XXX,XXX. • Tax code — retirement • 5500 preparation
This publication contains important information [Rev 07/30/18] HC\EB\Shared Resources\EE Communications\OE Newsletter\Template Samples\2018-19\Chicago\Suite 1\BE Suite 1.pdf • Compliance newsletters
about your employee benefit program. Short Term Disability (STD)
BENEFITS The company provides short term disability (STD) insurance to help (e.g., 401(k), 403(b)) (current and delinquent)
Please read thoroughly.
provide inancial security until you get back on your feet and return to
work. The plan covers [XX%] of your pre-disability earnings for up to
lockton.com | © 2021 Lockton Companies. All rights reserved. ENROLLMENT [XX] days. There is a [#]-day waiting period for illnesses, but coverage for • Employer guides
an accident will begin immediately.
Long Term Disability (LTD)
The company provides long term disability (LTD) insurance to offer you • Form 1094/1095 ACA Reporting
inancial assistance in the event you are unable to work for an extended
period of time. The plan covers [XX%] of your pre-disability earnings,
but you have the option to purchase our buy-up LTD coverage for an
[Rev 03/09/21] P\ENA 21Storyboard 671179.pdf doc # 10 additional [XX%] of coverage. The maximum beneit of base coverage is Support • Calendars and notice matrices
[$X,XXX] monthly; if you purchase the buy-up LTD coverage you may
receive an additional [$X,XXX] monthly.
