At AVI Services we know the responsibility of a broker is much greater than just reviewing the insurance market once a year.
We want all of our clients to understand the marketplace throughout the year and budget accordingly for the upcoming year, as well as for the future.
With this objective, we believe a consultant should be compensated on their performance.
Today's typical 'broker' gets paid a commission that's tied to a premium.
Thus they have little incentive to keep cost down; in fact, when your cost goes up they benefit by getting a higher commission on the higher premium.
This is a conflict of interest in our eyes, as we are here to represent our clients' best interest.
Therefore, our consultants are compensated based on their performance and reliability - they do not benefit from an increase in premium.
With our larger accounts we implement a consulting arrangement and negotiate insurance rates 'net' of commission so you as the employer have an exact understanding
of what the direct costs of the benefit plan are. Our clients are assured that we represent the client and not the insurance providers.
We provide a broad scope of consulting services. We will identify all areas where premium cost can be reduced and identify other cost containment options on benefits or plan design.
We will compare each product and option to the existing plan to determine the exact impact on benefits and costs.
We have a strong relationship with insurance carriers, their underwriters and staff which allow us the ability to negotiate more effectively.
We will evaluate your current insurance funding arrangement to make sure that your current plan is not wasting money on unnecessary administrative fees.
We also analyze provider network fees and discounts to validate the contractual pricing arrangements with doctors and hospitals.
Better discounts equate to greater savings.
Additionally, we analyze claims data for our partially and fully experience-rated customers. We provide the information in a format approved by the client.
Our spreadsheets and narratives allow the client to understand the market trends and reasons for certain claim fluctuations.
For our partially and fully self-funded clients, we monitor individuals with claims that might potentially penetrate stop loss factors.
Monitoring "shock claims" permits us to track stop loss claims and verify that these claims are not being paid by the client's health plan.
In an ongoing effort to educate our clients about health trends and the costs associated with them, we formulate extended healthcare budgets that assist the client
in planning for increased costs and allocating the appropriate reserve for any additional costs associated with inflation and market shifts.