Examining your insurance carrier

Human resource (HR) professionals should evaluate the firms that are responsible for employee benefits by considering costs, support in government reporting and monitoring, tailored services, and employee relations. Quality, service, and security are also concerns. In terms of quality, an insurance...

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Bibliographic Details
Published in:HR Magazine (Alexandria, Va.) Va.), 1992-02, Vol.37 (2), p.42-46
Main Author: Sturges, J S
Format: Magazinearticle
Language:English
Subjects:
Accuracy
Contract Services - organization & administration
Contract Services - standards
Corporate culture
Costs
Costs and Cost Analysis
Criteria
Decision Making
Design
Employee benefits
Employers
Fees & charges
Financial Audit - methods
Group insurance
Health administration
Health Benefit Plans, Employee - economics
Health Benefit Plans, Employee - organization & administration
Health insurance
Human resources
Insurance Carriers - economics
Insurance Carriers - standards
Insurance coverage
Insurers
Life insurance
Professionals
Program Evaluation - methods
Quality Control
Quality of service
Recommendations
Retention
United States
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Summary:Human resource (HR) professionals should evaluate the firms that are responsible for employee benefits by considering costs, support in government reporting and monitoring, tailored services, and employee relations. Quality, service, and security are also concerns. In terms of quality, an insurance program carrier should: 1. tailor the programs to a company's needs, 2. have competitive pricing, 3. have strong provider-vendor relationships, 4. be accurate, and 5. be exact and flexible in record keeping. The carrier serves several customers, including both the employers and the covered employees and dependents as well as the providers of covered services. In servicing employees, claims payment must be prompt, and the insurance carrier must be able to confirm coverage promptly and clarify coverage specifics to both employees and their providers or counselors. When it comes to carrier stability and security concerns, HR managers will find several assessment aids; perhaps the most reliable aids are other employers who have used several carriers and can make informed comparisons.
ISSN:1047-3149