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Budgeting/Financials
Proper budgeting and financial monitoring is key to sustaining a health and welfare plan. Segal is able to help public sector entities with the following services:
- Projecting claims
- Performing incurred-but-not-reported (IBNR) calculations required for self-funded plans
- Analyzing the impact of proposed plan design changes
- Underwriting and funding methodology
- Creating budget and renewal projections
- Preparing annual health benefits reports
- Determining pricing for flexible benefits
- Conducting merger studies
- Creating and/or update financial reports including information on per member per month (PMPM) costs and plan cost drivers
- Preparing a financial experience and benefit projections (FEBP) report, including a review of three-year income and expense projections