Financial & Compliance Oversight
In today’s business environment, it is critical for employee benefit plan sponsors to stay on top of frequently changing plan expenses, market trends and legislative requirements. To help guide benefit decisions in this environment, MCM’s consultants provide our clients with regular, ongoing financial analysis and compliance updates.
Financial analytical tools available to our clients through MCM include:
- Comprehensive Benefit Pricing Model to provide clients with accurate projections of the cost implications of changes to their benefit plan designs.
- Reserve Calculator to calculate run-out liability reserve requirements.
- Consumer Driven Healthcare Account Pricing Model to evaluate whether a proposed Health Reimbursement Arrangement or Health Savings Account is cost effective relative to the baseline product over a three-year period.
In addition, MCM consultants use survey data available through UBA Consulting to provide benchmarking data relative to similar employers - and to the client over time - to help ensure that benefit plans remain in line with industry trends and company goals.
MCM also provides legislative updates and advice to our clients. This includes our monthly HR Insider newsletter focusing on industry trends and legislation, and our HR Insider web site, updated daily to provide:
- Industry updates
- Forms and sample templates, for example, for HIPAA, COBRA and FLMA
- Links to carrier Web sites and other informative/educational HR Web sites
- The MCM Resource Center, providing a wide range of HR information and educational material, including newsletter articles, benefit survey results and information on industry trends
Contact us to learn more about MCM’s financial and compliance oversight capabilities or to see a demonstration version of our HR Insider Web site.