Advisor's Checklist for Client Retention in Captive Models

This guide outlines a comprehensive checklist for small to midsize businesses to evaluate their health insurance strategy and enhance client retention in captive models. It emphasizes the importance of conducting an annual review of health plans to maintain cost control and optimize benefits. The document details various analytical approaches, including benchmarking health plan costs against industry averages, analyzing year-over-year cost trends, and assessing unused premiums. It also covers financial analysis by reviewing claims data to identify high-cost drivers and exploring cost-containment opportunities. The guide suggests evaluating plan flexibility, vendor performance, and employee satisfaction to ensure that the health plan meets workforce needs. Additionally, it highlights the significance of compliance checks with ACA requirements and encourages the exploration of alternative funding models. The document concludes with recommendations for implementing regular reviews and setting measurable goals to track savings and improve employee engagement.