Employee Benefits

The Cost-effective Edge in Actuarial Support

Whether public or private, large or small, employers choose Lewis & Ellis as the cornerstone for implementing strategic and cost-effective risk management strategies in their employee benefits plan design. Leveraging our extensive experience, we serve as your reliable guide, navigating the complex landscape of employee benefits.

Our deep understanding and sector-specific expertise empower employers across the board to make optimal decisions regarding their employee benefits strategies. From scrutinizing the broader issues like benefits plan management to delving into intricate details of long-term funding strategies, Lewis & Ellis is your comprehensive solution for managing employee benefits.

Trust Lewis & Ellis for tailored, insightful, and impactful employee benefits consulting, ensuring your employee benefits plan is both competitive and sustainable.

Actuarial Excellence in Employee Benefits Management

Employers rely on our specialized services in managing employee benefits programs and associated business risks. Our key areas of expertise include:

• Crafting appropriate and sustainable reserves for self-funded health plans.
• Establishing equitable contribution levels for employees, retirees, and COBRA enrollees.
• Comprehensive understanding of cost implications and potential savings tied to various benefit options, including life, medical, long-term care, retirement, and workers' compensation plans.
• Calculating post-retirement or post-employment liabilities associated with group health and retirement plans.
• Evaluating cost-effectiveness and legal compliance of resource pools across employer groups.
• In-depth analysis of the cost-effectiveness of Preferred Provider Organization (PPO) networks, focusing particularly on reimbursement levels.
• Benchmarking your costs against industry standards using the L&E Health Care Cost Model.
• Actuarial valuations and disclosure in accordance with FASB ASC 715-60, FASB ASC 765, GASB 74, GASB 75, and IAS 19.

Optimized Risk Management for Maximum Efficiency

Our actuaries at L&E not only deliver precise actuarial calculations, but they also leverage their comprehensive employer and insurer experience to address your critical concerns:

• Effectively managing workers' compensation costs.
• Long-term cost implications and potential savings of consumer-directed health plans, including GAP plans, health care reimbursement accounts, and health savings accounts.
• In-depth analysis of the benefits and drawbacks of self insurance.
• Risk management strategies focusing on cost minimization related to increased risk.
• Effective communication strategies for conveying business risks, costs, and benefits to employees.
• Evaluating whether advance funding could be a viable option for your business.
• Identifying strategies for reducing expenses and/or unfunded liabilities.
• Future projections of expenses and how they might impact your business.
• Exploring plan design modifications to optimize expenses while maintaining employee satisfaction.

Regulatory Compliance Experts for Streamlined Benefit Programs

At L&E, we provide indispensable support to manage your health plan, retirement plan, workers’ compensation program, and other similar risks. We craft bespoke compliance action plans for employers to align with HIPAA Title II regulations, leveraging our in-depth knowledge of insurance compliance rules and regulations.

Should your organization provide medical benefits to employees, we ensure your operations align with the latest legal mandates and industry standards. Our commitment to staying abreast of changing regulatory landscapes guarantees your continued adherence to regulatory requirements. Trust in L&E for seamless compliance with a range of complex legal frameworks in the benefits space

Comprehensive Employer Services

L&E engages closely with your team of service providers to unlock the full potential of key business areas. Our dedicated actuaries and consultants enhance the services provided by advisors, brokers, third-party administrators, and other entities supporting your organization's employee benefit needs. We supplement your existing network with our robust actuarial and regulatory expertise, ensuring a cohesive and effective strategy. Trust L&E to bolster your employee benefits management with professional and reliable complementary services.