Human Resources Services

Group Benefits

In our experience, leading HR consulting firms often do not focus sufficiently on some of the ancillary group benefits typically offered with larger plan sponsors. As a result, group term life, AD&D, STD and LTD product offerings may not be as effectively designed or efficiently priced as they should be. There is an assumption that Group Life and Disability markets are already priced as a commodity, but, in fact, it is not uncommon for Fulcrum Partners to deliver significant rate reductions for our Fortune 1000 clients.

This relatively new approach involves underwriting the risk prior to requesting bids from insurance carriers. A non-binding authorization by the plan sponsor allows Fulcrum Partners to obtain claims history information. Prior to the RFP process, claims history and census information is underwritten to determine the most efficient pricing rate attainable in the marketplace. During the RFP process, this predetermined pricing and reserving is negotiated directly with the carrier underwriters. Direct access and predetermined pricing is the key to negotiation leverage and favorable outcomes. This process has no cost to our clients and there is no obligation to implement any of our results.

Voluntary Benefits

Many Companies today are finding that Voluntary Benefits offer the advantage of strengthening their current benefit programs without adding additional cost.

These plans are typically fully insured from top rated insurance carriers. Due to the low participation requirements, these programs are perfect for inclusion in a cafeteria plan or on a standalone basis. Typical Voluntary Group Benefit offerings include:

• Life Insurance
• Short & Long Term Disability
• Long Term Care
• Critical Illness
• Dental
• Vision
• Legal Services, etc