Health & Welfare
  
We specialize in a wide variety of services and lines of coverage, including:
  
Disability and FMLA
Employee Benefits
For working individuals, a disability is a medical condition that reduces your ability to perform your job duties, usually an injury or illness. While some disabilities are work-related, nearly 75 percent of disabling injuries to workers occur off the job.
Disability insurance is coverage that provides you with income protection, should you lose time on the job due to an injury or illness. With disability coverage, you are compensated for a portion of your lost income.  Additionally, The Family and Medical Leave Act of 1993 (FMLA) gives eligible employees the right to take unpaid, job-protected leave each year in certain situations, including the birth, adoption or foster care placement of a child, their own or a family member’s serious health condition and a family member’s military service.
Retaining top talent is a major priority for most businesses, especially members of the executive staff. Executive benefits are designed to provide your top employees with a higher level of benefits and compensation, especially since 401(k)s restrict the amount of money an individual can contribute on a tax-favored basis. Executive benefits can be designed to provide solid tax advantages for both employers and employees. Some of the more common executive benefits that highly sought after by executives are Non-qualified Deferred Compensation Plans ·Executives can defer some of their compensation, either salary or bonuses, until retirement. Executive Bonus Plans (also known as Section 162 Plans). Employees purchase a permanent life insurance policy and then employers provide the premium as a bonus. This is considered taxable income and is tax-deductible for employers. Split Dollar Plans· Executives have the ability to purchase life insurance coverage without paying the premiums; payment responsibility rests on employers.
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Medical Claims Auditing
Human Resouce  Services
Our audit team works for to ensure the accuracy of your employees claims. The end result, is the potential cost savings for your organization. To accomplish this, we examine negotiated rates with health care providers, medical plans and the benefits they allow, payment information, eligibility criteria, whether services were performed in network, and the turnaround time of claims. We try to identify trends in claims errors and make recommendations about how to prevent errors. Our team of auditors are experienced in claims processing and medical coding, utilizing CPT, ICD-9 and other coding systems in the medical billing process. Unlike that of conventional coders, however, our team places stronger emphasis on compliance and regulatory standards.
This means that we focus not only on processing medical claims, but also on making sure that those claims are processed accurately and according to government standards.
Lambent Risk Management can assist you with all your human resource needs. Whether you are looking for legislative information, employee communications, industry-related websites or consumer-related health care information, we have it readily available for you in one convenient location. Compliance- Looking for quick answers to tough legislative questions? Our Compliance section has the answers you need. Documents on Command- When you need to access information fast, our Documents on Command section provides instant access to a library of downloadable articles covering a variety of topics—right when you need them. HealthShop- Do you need professional-looking newsletters to give to your employees? No problem. With HealthShop you have access to comprehensive consumer information in ready-to-print newsletters.
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Retirement Plan Consulting
Voluntary Employee Benefits
Our audit team works for to ensure the accuracy of your employees claims. The end result, is the potential cost savings for your organization. To accomplish this, we examine negotiated rates with health care providers, medical plans and the benefits they allow, payment information, eligibility criteria, whether services were performed in network, and the turnaround time of claims. We try to identify trends in claims errors and make recommendations about how to prevent errors. Our team of auditors are experienced in claims processing and medical coding, utilizing CPT, ICD-9 and other coding systems in the medical billing process. Unlike that of conventional coders, however, our team places stronger emphasis on compliance and regulatory standards.
This means that we focus not only on processing medical claims, but also on making sure that those claims are processed accurately and according to government standards.
Your employees may know the importance of having health care coverage and a 401(k), but are you offering them the opportunity to take  advantage of benefits at no cost to the employer? Voluntary benefits are additional benefit options can be offered through the company. Unlike traditional benefits like health coverage, employees are responsible for paying most or all of the cost of these voluntary options.
What’s the Advantage? You may wonder - if you’re responsible to pay, then why elect any voluntary benefits? There are several advantages.
Lower Price -If the benefit in question is something an employee is planning to purchase for themself regardless, then it is probably more cost-effective to purchase through the company at a group rate. You can secure is generally lower than what the employee would pay buying individually from an insurance company. Convenience-When voluntary benefit options are elected through open enrollment,  premiums are payroll deducted just like other benefits and your employees receive the same benefit of pre-tax payroll deductions.
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Worker's Compensation
There are many ways for you to control workers’ compensation costs for your small business. The most important is to convince your employees that maintaining a safe workplace is vital and will consequently reduce your insurance costs. Here are some other ways to control costs: Implement a return-to-work policy in which employees work modified duty until they are fully healthy to do their jobs. Understand the elements that contribute to your workers’ compensation costs. Your classification codes, experience modification, company growth and company acquisitions can all affect your premiums. It is vital that you understand the impact that each brings to your overall pricing. Orient and train your employees on safe practices necessary for their job functions and tasks. Once training is complete, ask new employees to sign an agreement confirming that they understand company safety procedures. Insist that employee claims are reported promptly, as statistics reveal that for every week that a claim goes unreported, the cost can increase as much as 50 percent. Investigate the cause of injuries and illnesses. While one injury may be behind you, others will take its place unless you do something to reduce the change of the incident occurring again. Also, ask the injured employee how the situation could have been prevented.
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