BROKER SUPPORT SOLUTIONS
Concord provides brokers and consultants with the expertise and support in evaluating and determining the feasibility of alternative health plan solutions for their clients. Our services can be offered in collaboration with existing brokerage services to ensure alignment and to create comprehensive solutions.
Concord offers a broad suite of consulting services as it pertains to the buildout, administration and attractiveness of your alternative health plan. Our core consulting services include feasibility assessments, market-competitive product and plan design, distribution strategies, project management and operational readiness. Additional services include vendor oversight, reinsurance contract management and renewal support.
FINANCIAL MANAGEMENT SOLUTIONS
Solutions provided by Concord include maintaining books and records including billing and member fee collection services, maintenance of general ledger and production of monthly financial statements and annual budgets, reconciling claim accounts, completing 1099 filings, supporting the accounting firm for all federal 5500 filings, Department of Labor filings and any Department of Insurance Filings that are required to be completed. Collection and payment of ACA Fees is also a service provided by Concord.
Concord also offers a broad suite of actuarial and underwriting services. The actuarial services we provide include, renewal experience analysis, base rate setting, as needed, product development around new plan designs, annual reinsurance procurement, actuarial evaluation of new benefits and vendors, capital planning and risk management analysis (impact of risk based capital levels on pricing risk margins), audit support with external auditors, support for all DOBI filings and actuarial analysis of plan utilization data. On the underwriting front, Association Plans (especially MEWAs) must adhere to approved, acceptable underwriting standards for proper block risk management. Concord's underwriting partner utilizes processes that are compliant with state regulatory authorities, meet the needs of the market, and sync with the actuarially developed base rates to produce profitable results.
HEALTH PLAN OPERATIONS
Concord can provide access to a Third-Party Administrator or can work with the Client’s designated partner. Concord, along with the Association Trust Board, will oversee the plan administrator. Concord's plan administration partner has a strong track record of providing medical claims administration, population health management services and disease management. Additional services include COBRA Administration, COB & subrogation services, customer service, maintenance of group and member eligibility and enrollment, issuance of ID Cards, issuance of eligibility files to vendors (i.e., Prescription/Dental vendors), required notifications to members, ERISA and Federal legislative compliance, maintenance of an ERISA/PPACA compliant appeal process and ensuring compliance with Federal Regulations, i.e., Health Care Reform (PPACA). Concord has a preferred PBM partner but can work with the Client's designated PBM. All customer-facing services provided by Concord's partners can be private-labeled.
REGULATORY SUPPORT AND GOVERNANCE
Concord works directly with our legal partners in the preparation of trust documents; summary plan descriptions, and registration materials for the Association Trust’s initial registration and ongoing support. Additionally, Concord can provide end-to-end support to the Association Trust in terms of health plan governance, including the organization and orchestration of all Trust-related accountabilities.
SALES AND MARKETING
Concord offers a broad suite of sales and marketing services that can be tailored based on the needs of the client.