Taft-Hartley health plans require unbiased advisors who can work effectively with representatives from the sponsoring employers and union membership. Clear, even-handed communication is essential. Nyhart has the expertise to guide the representatives through special issues encountered by Taft-Hartley health plans, such as

• Irregular increases in contribution rates and COBRA rates that have not kept up with medical inflation
• Dramatic reductions in benefits required to maintain the balance between incoming contributions and outgoing claim and administrative expenses
• Pressure to merge into other Taft Hartley funds

At the same time, Taft-Hartley plans also share some of the same problems are single employer corporate health plans.  Common problems include rising costs and legislated changes that shift the burden of cost from government to employers and ultimately to participants.

We provide a variety of services and expertise to:

Analyze the Cost to Properly Fund Benefits

• Calculate self-supporting equivalent premium and COBRA rates for active, early retiree and Medicare retiree groups
• Determine the fund’s year-end liabilities for incurred but not reported reserves, banked dollars or hours, SOP 92-6 retiree health liabilities and claim fluctuation reserves.
• Evaluate onsite clinics on a pre-implementation and post-implementation basis
• Illustrate the financial impact of various levels of stop-loss reinsurance
• Evaluate medical and prescription drug discounts

Actuarial Attestation for Part D Retiree Drug Subsidy Programs

• Calculate the gross and net test to prove qualification for the retiree drug subsidy.

Measure the Impact of Plan Design Changes

• Analyze claim experience and provide recommendations for plan design changes
• Calculate the anticipated savings or cost of proposed plan design changes
• Model future costs using normative data or actual claims experience

Why Nyhart?

Nyhart’s health actuaries are experienced in dealing with both Taft-Hartley and corporate health plans. Our Taft-Hartley clients are better served because of our breadth of experience.  In addition, our clients regularly recognize us for our responsiveness, level of service and reliability of our calculation. We serve as an independent and unbiased voice to our clients. Our actions show that we are client-driven and make available any of our clients as references.

Dedicated teams, direct access

Each client at Nyhart has a dedicated team of actuaries. We provide you direct access to your team so your questions and issues can be handled confidentially by a team who knows your health care plan and can help resolve your issues.

Ask Nyhart

Do you have an actuarial or benefit question or are interested in learning more about Nyhart’s actuarial healthcare services. Please call us at (317) 845-3500 or email us at connect@nyhart.com today and we will be in touch quickly.