Insurance Carrier Market Analysis
The health insurance industry continues to evolve and health insurance carriers and Third Party Administrator (TPA) are the driving force behind potential cost savings. Even the best performing health insurance plans require a market analysis of their insurance carrier or TPA every 3-5 years.
A well written and individualized Request for Proposal (RFP) is a highly effective tool in recognizing the costs and capabilities of your current and prospective claim payment partners.
Both fully-insured and self-funded clients have benefited from KBM’s market analysis RFP process by evaluating the costs associated with available carriers and TPAs in an employer’s region. The Affordable Care Act has led to the creation of both new companies and mergers of existing ones; this has led to the possibility of new insurance opportunities for some employers and an immediate need to leave an insurance company for others.
Previous Service: Medical Claim Audit