Page 32 - Bird RFP Response_Burnham Benefits

Burnham Benefits Response to Bird
Request for Proposal for Benefits Broker

Services
The Claros dataset is highly credible with more than 10 million lives and more than $100
billion in claims running through the models.

Key highlights and value features include:

Determine the actuarial plan value of your benefit plan options, including how
changes will impact plan usage
Development of client-specific manual rates to compare/contrast to the carrier
marketplace
Outlining insurance stop loss levels to help employers with the risk/reward of
various deductible levels
Illustrate the cost-benefit dynamics for a group moving from fully insured to self-
insured funding, including reports on the relative differences in expected return
and capital at risk

Model cost impact of employee plan migration through predictive outcomes

Here are a few examples of how savings are achieved by Burnham:

Negotiate lower renewal increases as a result of our expertise, market presence
and preferred carrier partnerships
Market benefits to leverage competitive rates with current carrier, or change
carriers if needed

Implement preferred networks that emphasize quality care for lower cost
Consolidate offerings to fewer carriers
Move from fully insured to self-funding arrangement
Set stop loss threshold where the intersection of risk and rates are optimal for
the client

Implement strategic medical plan designs to improve risk profile of enrolled
members
Provide easy-to-read employee communications that create informed
consumers, such as highlighting when urgent care is preferred to the emergency
room
Include benefits guide and standard employee communications in our Scope of
Services

Manage pharmacy spend with 360 Rx Solutions – develop cost-effective
formularies, target specialty drug spend and provide oversight of pharmacy
operations and compliance

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