Many of Penad’s senior managers have decades of experience in every aspect of benefit programs for employers, including group insurance plans. As a result, Penad provides life and health consulting to help employers get an objective perspective on the cost-effectiveness and efficiency of their plans.

With expertise in design and underwriting of employee benefits plans of all types, absenteeism control programs, and cost containment strategies including managed health care and managed dental care, Penad is able to review and audit group insurance plans with an eye to discovering inefficiencies and potential savings.

Once this audit is complete, Penad prepares a feasibility report with a detailed proposal for premium reductions and/or cost saving strategies. Penad reviews this with the employer and then negotiates directly with the insurer on the behalf of our clients to implement the action steps.

Penad also offers a number of ancillary services such as a competitive assessment of insurance contracts and amendments, assistance in staff association agreements and collective bargaining negotiations, plan enrollment and communications, administration, and periodic reviews looking at

* benefits relative to current trends
* relationship of claim cost to paid premiums
* review of insurer’s expense charges, pooling levels, funding methods, trend factors, etc.
* assessment of rate adjustments
* claims control procedures

Hank Cotton is Director of Penad’s Benefits Division and has over thirty years of experience in the benefits industry.