New City is not a traditional insurance brokerage firm. We act as an independent advisor and align our interests with that of our clients, not the insurance carriers and vendors. We believe the key to increased employee interest, retention, well-being, and productivity is a quality benefits package that meets an employee’s needs at a competitive price. We build custom health plans designed to meet employee needs while controlling the long term healthcare spend of your company by putting in place a program to control the number one driver of costs to the plan, which is claims.
New City Insurance Guarantees Results
Step 1: Understanding Your Business – Qualification
Our process begins with a light meeting to gauge if there are opportunities for improvement with the existing plan structure. Smaller organizations with 50-1000 employees have historically been at a disadvantage from an underwriting perspective, but advancements in underwriting and supply chain management strategies now allow for these organizations to take advantage of the solutions that larger employers have been using for decades. With some basic data points, our team will prepare a cost modeling analysis to determine guaranteed savings amounts available by building a custom health plan.
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Step 2: Cost Modeling Analysis
After review of your existing plans, cost structure, and vendors in the package, we set a meeting to discuss our findings and lay out the next steps. If the cost modeling analysis uncovers that you are overspending on benefits, we will propose a project to build a custom health plan with guaranteed savings while maintaining or improving benefits and network access. Our benefits team thoroughly reviews the current plan structure, performance, and utilization while looking for opportunities to improve overall efficiency and eliminate waste. Upon agreement of terms and a signed Letter of Engagement, the plan build project will commence.
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Step 3: Plan Build and Delivery
The project kickoff begins with a thorough review of plan performance, what is working and what needs to be amended. Some additional data may need to be gathered at this point to ensure we have everything needed to review your existing vendor stack and come back with recommendations and a game plan. Over the course of the plan project, we will build a 3 year plan for increased predictability over healthcare spend. While a full analysis will be provided, the key deliverable will be a custom built health plan with guaranteed savings without sacrificing benefits or network access for your employees.
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Step 4: Implementing Your Health Plan and Start Saving
At the end of the project, you can decide if you would like to implement the custom health plan with us or with your broker. Our goal is to give you options and get paid fairly for the value that we deliver.
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If you decide to bring us on as a long term partner on your plan, then we will meet every 3 months and you will know where every dollar is going inside of your plan and we will also monitor the plan in real time with smart people and smart technology to look for opportunities to get better results.