SHERRILL MORGAN is unique in its emphasis on helping its clients plan for the future of their benefits programs.  At SHERRILL MORGAN, we firmly believe that employers must be proactive in managing their benefits programs, and not merely wait for their annual renewal to be delivered.  Rather than just utilizing cost-control methods standard to the broker community, we prefer to take measures that will make programs sound for years to come, and we bring specialists to the table who can accomplish this.

SHERRILL MORGAN utilizes a number of strategies in assisting our clients in achieving their objectives. 

Employers are increasingly challenged to find ways to control costs while maintaining a level of employee benefits that enables them to attract and retain a strong workforce.  Understanding these objectives and helping to define them is SHERRILL MORGAN’s first priority.  We use a detailed process called the “Three-Year Plan” in order to identify and achieve the Employers’ goals. Ultimately, these objectives and goals are translated into a Three-Year Plan timeline. 

The following topics are discussed with the Employer as part of the Three-Year Planning process:

• Financial Goals:  What are the client’s Financial Goals?  What does the client want plan costs to be over the next three years, and what share do they want employees to pay during that period?  The client’s historical costs are examined to determine the rate at which plan costs have inflated. 

• Wellness and Consumer-Driven Goals:  This is the area with the greatest potential for employee involvement and also involves how the plan is conceptually conveyed to employees.  Numerous federal and state regulations apply in the area of Wellness Programs.  Our on-staff attorney can provide valuable assistance to the clients' legal advisors on the regulatory implications in this area. 

• Pharmacy Goals:  This is a major consumer-driven area of health plans.  For instance, health plans can cover over-the-counter substances in order to move members from more costly prescribed drugs.   This, along with other programs, can greatly impact prescription drug costs.  We also recommend transparent and pass-through contracting for the client’s pharmacy program to ensure that drugs are purchased at the best possible discount and that all rebates come back to the employer.

• Plan Design Goals:  Deductibles and co pays are evaluated to make sure they coordinate with the client’s goals in other areas.

  All of the information above is put on a timeline where meeting dates and    goals, such as the renewal process, are given future action dates.  Our staff   meets quarterly or as needed with clients in order to facilitate the Three-    Year Planning process.

• Surveys: SHERRILL MORGAN conducts several employee benefit surveys which provide valuation information for comparison and benchmarking purposes.  For details on these surveys or to participate in these surveys, please click on the Survey tab on the home page or click the link below.  (insert link to go to the Surveys tab)  Those surveys are:

  Greater Cincinnati Health Benefits Survey
  Tennessee Public Managers Association
  Kentucky Public Human Resource Association
  International Public Managers Association

   

  Individual Insurance Services provided by Sherrill Morgan

• Individual Life Insurance:  Estate and asset coordination
• Collect financial information
• Review existing wills & trusts
• Review life insurance policies and other documents
• Review employer fringe benefits
• Confirm ownership of assets coordinated with estate planning documents
• Cooperate with Accounting, Legal and other Financial Advisors.

• Individual Health and Medicare Insurance:
• Impartially judge and assess health insurance companies on their capabilities and restrictions based upon how those results coincide with the financial goals and medical needs of clients.
• Get to know someone in order to get an idea of where their needs are.
• Use the collected information to direct client to a plan that best suits their needs on both a medical basis while taking into account their financial goals in a health plan.