Overview of Havens & Company's Services
Havens & Company ranks among the top insurance brokers and consultants for Fortune 1000 employers seeking the finest non-medical programs. We focus on understanding each client’s objectives and designing and implementing programs that meet those needs in the most cost effective way. In the end, much of our work helps you keep your eye on your ever shrinking benefit dollar.
We are confident that our business model sets the standard for employee benefit consultants and brokers, a model that puts the power and leverage back in the hands of our clients – where it belongs. We meet our clients’ goals and objectives through the unique process we use to analyze, bid, and install our clients’ coverages. Our procurement-based process blends the discipline common to structural and financial reviews with the technical expertise necessary to develop and negotiate the best price, terms, and conditions available. Our process ensures that our clients receive full information on each proposal we receive on their behalf and that they remain well informed in order to make educated decisions regarding all plan and financial options.
Specifically, our unique approach is distinct in three (3) ways:
- Full Disclosure and Transparency: Although these terms became "buzzwords" after the 2004 New York Attorney General's investigation, it is important to note that we have always used these terms. In fact, we were the only major intermediary that was not censored or noted in the 2004 investigations. Our process is carefully designed to keep the customer informed and at the center of the sale. We do this by providing you with periodic and detailed disclosure and financial exhibits throughout the entire process. These exhibits demonstrate the reasonableness of every single dollar of plan expense as charged by both the carriers and Havens & Company and compare and contrast those charges across all bids and plan design options.
- Fair Exchange: We understand our clients’ financial pressures. We are open with them about our own financial goals. Our commitment is to yield programs that make the best use of corporate dollars for the benefits spend. Our clients need excellent coverage, fairly priced. They deserve it; and, our compensation will always be reasonable in relation to the value that we bring. Our margins and our compensation are lower than those of most intermediaries due to our focused, efficient model. We do not have to support the overhead expenses of our competitors’ consulting models- there are no marketing office costs, no interns processing paper, no designated gurus, and no separate customer service office. We provide a compensation disclosure form that demonstrates the reasonableness of all dollars spent and compares and contrasts those charges across all bids and plan design options. Unlike our competitors, we deliver and execute compensation disclosure forms at various stages in the process so that client consent is obtained prior to any payment of compensation. We will not receive any compensation, monetary or otherwise, as a result of our relationship with a client without that client’s prior knowledge and written consent.
- Benefit Expertise: Our financial expertise goes well beyond that offered by typical brokerage or consulting firms. We immerse ourselves in corporate economic trends generally and understand their relationship to rising benefits costs. We understand all of the nuances of life and disability cost structures and as such you will not find more effective negotiators of benefits costs than you will find at Havens & Company. This expertise drives the greatest efficiencies possible to our clients. We are also experts in the funding of disability plans ranging from self insured to fully insured options. In addition our team includes personnel with sourcing and aggregated purchasing employment experience. This combination of expertise means that the interests of our clients are represented by the most skilled practitioners and negotiators in the business.
Below are several of areas of our expertise:
Our focus in disability brokerage and consulting is on the management of your program, the containment of the overall cost, and providing a satisfactory benefit for your employees.
This focus may include a review of:
- claims practices,
- plan design,
- appropriate coverage options for the eligible group,
- risk and alternative funding options, including captives, participating arrangements, and self-funding,
- statutory disability obligations,
- the impact of disability absence on productivity and lost time costs,
- tax design,
- coverage for international employees, and
- program changes resulting from merger and acquisition activity.
Life and Accident Insurance Services
Our focus in life and accident insurance brokerage and consulting is on plan design, coverage options, and overall cost savings.
- Our recommendations concerning plan design take into account your objectives concerning cost, risk, compliance, and service.
- We ensure that your plans can withstand the scrutiny of a compliance audit on all fronts (i.e., IRS, DOL, internal).
- Alone in the industry, we make sure that the successful carrier has an officer of their company who is authorized to bind the company certify that there has been no cost-shifting between the employer-paid and employee-paid plans.
- We make sure that your employees, including your executives and retirees are properly covered. We are experts in the complex accounting and financial issues that arise from coverage of these groups and can design the best program for you.
- Since we are carrier insiders, we negotiate effectively on your behalf to ensure that you get the best value for the best price.
Our focus in dental brokerage and consulting is maximizing the current dental market for the benefit of your company and your plan participants. We critically assess the plan design, the pros and cons of all funding options, and the service experience.
- We ensure that the coverage options you provide are market competitive and in keeping with current ADA recommendations.
- Our disciplined, financial modeling tool makes sure that all funding options are on an apples-to-apples comparison basis so that costs can be compared over a 3 – 5 year period.
- Our recommendations never lose sight of yours and your members’ service experience, including networks/disruption, claims, billing, enrollment, and education.
Our focus in vision brokerage and consulting lies in creating viable comparative tools and processes to evaluate all elements of the vendor options being presented to employers.
- We utilize a RFP process that focuses beyond the emphasis on premium considerations and details the financial impact of "out of pocket" expenses, contract restrictions, the relative value of the retail options as well as impact of plan disruption.
- We assess the relative merits of alternative distribution points. Carriers such as Met Life, Anthem, Aetna, and others have arrangements which utilize the networks of primary vision vendors. How these programs compare and compete with theses primary providers is often lost when the employer views only the single offering through an existing relationship with their healthcare carrier.
- We negotiate vision programs that have often not been marketed in decades. In many instances, the incumbent vendor has benefited from the relatively low priority given to this program through the years. Our process and results bring a much needed outside perspective to bear.
Voluntary Benefit Services
Whether you are considering offering or already offer accident, critical illness, whole life, auto and homeowners, group legal, or any other voluntary benefit, we are well positioned to assist.
- We know the products and services available in the marketplace.
- We understand the implementation challenges.
- We are well versed in the legal framework surrounding these plans.
- We are constantly reviewing the flow of new participants into this marketplace.
- We are positioned to provide comprehensive analysis of the wide range of choices offered by carriers as well as the sometimes limited options provided through Private Exchanges.