Items to Quote
Thank you for your interest in CEBCO. The following is a list of the items we would like in order to prepare a comprehensive offering:
- Monthly enrollment information plus medical, drug, and dental claims on a paid basis.
- Current detailed medical, prescription drug, dental, and life plan benefit summaries (SPDs are acceptable if they include a summary of benefits)
- Current plan year premium rates (if fully-insured) or premium equivalents (if self-funded) for medical including drug, dental and life, by tier of coverage. Indicate whether these are your current funding rates and if any margin is included.
- Plan changes made in the past three plan years.
- Premium rates or premium equivalent history for the past two years, by tier of coverage (single,family)
- Employee contribution information (by the tiers of coverage) either in the form of employee payroll deduction amount or as a percent paid by the employee/employer.
- Copies of vendor insurance policies (medical, dental, stop loss, and life)
- Large Claims History including dates of claim, diagnosis and prognosis (including any other information that is available and non-identifiable within the constraints of HIPAA) for any claims over $25,000 in the past twelve months.
Your reporting should exclude employee names, social security number, etc. You can identify claimant as follows: Employee 001, Spouse 001, Dependent 001, etc.
If the plan is currently self-funded, please disclose administrative fees, stop loss premiums, and expected claims funding costs (per employee per month) for the current plan year. Include the current specific and aggregate stop loss levels. We would also like to know whether the claims funding component is maintained at 100% of expected or something greater. Finally, we would like an estimate of claims IBNR. If you have an actuarial valuation for the IBNR, please include a copy.
Please write or call if we can be of any assistance as you assemble the information listed above. We look forward to working with you.