Sibson Consulting offers a range of compliance services and publications to help employers navigate the maze of federal, state and local laws and regulations related to benefit plans. Our services include:
Sibson can help your organization assess options and determine next steps for your health benefit programs. Our compliance, compensation and communications experts can assist plan sponsors in evaluating the impact of important ACA changes on future medical benefit choices, costs and strategies. Sibson’s extensive resources, including the New Exchange eXamination Tool (NEXT) and modeling tools such as WORKFORCE composition, review full-time status look-back analysis, and excise tax exposure can guide plan sponsors through the maze of new federal regulations. We can also help organizations explain these rules to plan participants.
Plan sponsors need to make sure that their future benefit offerings comply with new rules that address:
Sibson offers several applications to help clients test their plans to determine:
Employers that wish to avoid paying the employer shared responsibility penalty will have to offer benefits to full-time employees (and likely to dependents as well). Employers with flexible workforces (e.g., part-time workers, contract workers, adjunct faculty) will have unique needs with respect to the penalty. These employers will need to test their workforces to determine which employees are full-time under the ACA rules and which are receiving benefits.
Sibson can evaluate an employer’s staffing policies to ensure that full-time workers are accurately identified and offered benefits in order to avoid being assessed the employer shared responsibility penalty.
Furthermore, many employers with large flexible workforces may consider modifying their staffing models to minimize the number of employees considered full-time (and therefore benefits eligible) under the ACA. Sibson can help employers explore these workforce planning opportunities.
Sibson’s team includes underwriting specialists, behavior modification experts and communications and compliance experts. Our consultants help clients develop new wellness plans that generate meaningful participation and comply with new federal rules:
With the state- and federally-operated Public Health Insurance Marketplaces open for enrollment, and several large companies announcing their plans to move retirees and active employees to Private Health Exchange platforms, this is a very important time for employers and plan sponsors to examine the merits of exchange-based health benefit delivery models for their employees and retirees. Sibson is one of only a few national benefits consulting firms that is not operating its own exchange and consequently can provide our clients with:
Sibson’s New Exchange eXamination Tool (NEXT) helps employers identify the strengths and weaknesses of the various health exchange models available and compare them to traditional health benefits offerings. Using NEXT, employers can assess the impacts of different options and make an informed decision about whether to “pay or play.” When considering an exchange-based model, employers should consider:
Benefits professionals need to understand the Private Health Exchanges marketplace so that they can make informed decisions and choices. With many of the new Private Health Exchanges administrators being the very same companies to which plan sponsors typically turn to for guidance, the important distinction between health benefits provider and advisor is blurred. Plan sponsors must be diligent in seeking objective advice as they consider changes to their benefits programs. Sibson helps clients:
The ACA is having a major impact on the relationship between providers and insurers/network administrators, with Accountable Care Organizations (ACOs) resulting in more “capitation-like” arrangements and health care providers taking on more risk for the cost of care. Sibson can help employers assess the impact of these new ACO models, as well as other new payment approaches, on future claims costs for budgeting, projections and during the RFP process when selecting a carrier.
Sibson can help employers analyze the feasibility of setting up public/private partnerships, co-ops, Accountable Care Organizations and other structures to maximize the effectiveness of health benefit programs.
Sibson has a dedicated team that focuses specifically on insurance organizations and closely monitors industry trends in order to offer insight and intellectual capital specific to this industry. Insurance markets are adapting to the constantly-changing economic times, and it is vital to stay ahead of these changes. Sibson will keep you informed of current trends and help predict future ones by applying our expertise to the insurance marketplace.
Sibson has placed a long-standing emphasis on the importance of research and development that keeps our clients informed on all aspects of employee benefits programs. We have extensive experience in preparing comprehensive studies and reports on benefits-related topics involving legislative and regulatory issues. Sibson periodically creates, delivers and tabulates surveys and then reports on these survey results.