We provided student health insurance advisory services to one of the largest and most prominent private, not-for-profit universities in the United States. They are a leader in health science education and research and a pioneer in online learning, pursuing their mission of “opening wider avenues of employment to young men and women.”
As student health insurance advisors, AHP was responsible for providing the following services:
- Assisting Procurement and the student health insurance team in designing a selection process and official request for proposal documents.
- Identifying and soliciting student health insurance providers to participate in the RFP process.
- Assisting Procurement and the student health insurance team in selecting a student health insurance provider.
- Plan Analysis – Providing consultative analysis of the student health insurance plan and rates proposed by the selected carrier for the 2016-2017 academic year.
- Performing an independent actuarial analysis of the proposed plan.
- Performing an analysis of provider rate actions, plan design values and underwriting methodology.
- Advising the University team on options and strategies for carrier negotiations.
- Conducting a formal presentation to the committee.
Discovery: We collaborated with the university administrative team to understand their short and long-term business priorities and needs, how we could add value to their organization, and to assist them in responding to changing market dynamics.
Design: We jointly authored a plan to clarify how we would work together during the course of the engagement, outlining our commitments, and defining measurements of success.
Review: AHP sought input on our performance both through informal feedback sessions and annual surveys.
Follow Through: AHP delivered on the plan with thorough execution while constantly tracking outcomes.
Using our focused industry experience in plan design, underwriting and data warehousing, the AHP advisory team was able to apply best practices to negotiate and convince the current carrier to reduce the overall rate increase, saving our client over $400K.