As part of the Consolidated Appropriations Act, 2021 (“CAA”), Congress enacted a provision requiring service providers to disclose the compensation they expect to receive for consulting and brokerage services provided to group health plan clients prior to an existing relationship being renewed or for new relationships entered into on or after December 27, 2021. Caravus makes every effort to provide transparency regarding your health plan coverage. If we become aware of any changes in this document or we receive additional guidance from the Department of Labor, we will provide written notice of such changes. If you have any questions or require more information than what has been provided, please reach out to our Finance Manager, Jeana Beckemeyer, at 314.259.5001.
Scope of Services
Strategic Benefit Planning
Assist with developing overall plan benchmarks and targets based upon your objectives. Consultant will provide annually, and on an as needed basis, Stewardship results to determine if your objectives have been met.
Benefit Design and Marketing
Lead and deliver benefit brokering and consulting, marketing, design and execution to support the overall benefit strategy.
Funding
Advise on plan or program funding alternatives, including review of fee proposals, recommend budget rates, employee contribution rates, and COBRA rates; select and procure appropriate stop loss terms; and monitor program costs against expectations.
Communication
Assist with preparation of written or verbal employee communications regarding benefit program performance and changes and assist in the review of plan documents and insurance certificates during the planning and enrollment process.
Compliance Tools & Legislative Information
Provide informational materials on legislative developments impacting employee benefit plans, including access to online reference tools on topics such as ERISA, FMLA, COBRA, HIPAA, Account-based plans, etc. Provide periodic webinars on compliance topics as well as consult on plan document requirements, required notices, government disclosures or other matters pertaining to employee benefit plans or programs.
Data Analysis
Subject to receipt of required data and documentation, provide a) periodic claims and/or health plan management reports; b) claims analysis that allows drill down and further analysis of claims data; and c) plan modeling that evaluates the impact of plan design changes.
Employee Advocacy, Education & Engagement
Provide relentless care, advocacy and support for your organization, guiding you through the complex challenges of the healthcare system.
Carrier Compensation
Fringe Benefits Century Health
Graded Scale Example
ABC Company’s annual dental premium with Guardian is $26,000. Guardian commissions are paid based on a graded scale.
| Annual Premium | Commission Rate |
|---|---|
| First $5,000 | 10.00% |
| Next $5,000 | 8.25% |
| Next $15,000 | 6.25% |
| Next $5,000 | 4.25% |
| Next $20,000 | 3.25% |
| Next $450,000 | 1.50% |
| Next $2,000,000 | 1.25% |
| Over $2,500,000 | 0.50% |
Based on this schedule, the expected annual amount of commission to be received is calculated as follows:
| $5,000 | x | 10.00% | = | $500.00 |
| $5,000 | x | 8.25% | = | $412.50 |
| $15,000 | x | 6.25% | = | $937.50 |
| $1,000 | x | 4.25% | = | $42.50 |
| $26,000 | $1,892.50 |