TEANECK, N.J., Jan. 19 /PRNewswire/ -- Singer Nelson Charlmers, a leading insurance broker serving New York and New Jersey businesses since 1958, is now offering The HealthPlan Optimizer(TM) to companies in the metropolitan area. Currently used with remarkable success by many existing Singer Nelson Charlmers customers, The HealthPlan Optimizer consists of a detailed analytical process and Internet-based technology that enables companies to better identify the most appropriate health insurance for employees, thereby reducing the rising cost of this expense.
For the past 10 years, companies in the metropolitan area have endured increases in health insurance costs ranging from 10 to 30 percent per year. Little has been done to slow or stop the escalation, which has had devastating consequences for businesses, as the added costs continue to erode profits, contribute to operational cutbacks, and, in some cases, cause layoffs.
“The unchecked increases in health insurance premiums have created a decidedly seller-oriented market,” said David Singer, CEO, Singer Nelson Charlmers. “Our customers felt trapped, and, as their insurance advocate, we set out to do something that would stop the trend by creating more of a buyer’s market for health insurance.”
Singer Nelson Charlmers’ solution to the problem is The HealthPlan Optimizer, based on an internally developed proprietary technology process targeting companies with 25 to 2,000 employees. The HealthPlan Optimizer collects and examines data about the health coverage needs of a business, then produces a recommendation that best fits the preestablished criteria of that business. Often the new solution leads to an overall reduction in health insurance costs or better health insurance coverage for the business.
“By researching our claims history, Singer Nelson Charlmers determined that we had 40 percent compatibility with our then current network,” said Donald G. King, Chief Financial Officer, Perkins Eastman Architects, based in New York City. “Through The HealthPlan Optimizer, Singer Nelson Charlmers recommended an insurer with a plan that doubled compatibility and led to an approximate savings of $400,000 in premiums in just one year. Furthermore, we did not have to cut coverage. In fact, we added vision coverage, as well as short- and long-term disability, without additional costs.”
The HealthPlan Optimizer was created to specifically identify and address such scenarios. For example, a company may be spending more than it needs to on hospitalization coverage. By gathering and analyzing information directly and anonymously from employees, The HealthPlan Optimizer would automatically signal the illogic of such a plan, which would enable that company to buy what’s appropriate for its employees rather than what a particular insurance company is trying to sell.
“In today’s challenging healthcare environment, we were thrilled with the results of utilizing The HealthPlan Optimizer,” said Amy Potter, Vice President/Chief Financial Officer, Roux Associates, Inc., an environmental consulting and management firm based in Islandia, New York. “By working with The HealthPlan Optimizer from Singer Nelson Charlmers, we arrived at a well- thought-out, lower-cost plan that properly balanced the level of choice for our employees with the level of economic stability that a company needs to be successful in the long term.”
No other insurance broker has a tool like The HealthPlan Optimizer. Given Singer Nelson Charlmers’ track record as a broker that advocates proactively for its clients, the company felt compelled to come up with a solution that would help business owners.
“The truth is that, when it comes to being a real advocate for insurance clients, too often brokers and insurers have failed to think out of the box,” said Singer. “We are proud to have helped many of our clients already with The HealthPlan Optimizer, and we look forward to helping many new clients who today feel trapped by rising healthcare costs.”
About Singer Nelson Charlmers
Founded in 1958, Singer Nelson Charlmers (http://www.singernelson.com/) is one of the metropolitan area’s most highly regarded insurance brokers. With offices in New York and New Jersey, the company is best known for its long- term commitment to its clients, a reputation embodied in its unique process - The Total Protection Program(R), which consists of three parts: The Total Protection Audit(R), The Total Protection Analysis(R), and The Total Protection Advocate(R), as well as The Claims Protection Promise(R). A key component of The Total Protection Program, The HealthPlan Optimizer(TM) is a new, proprietary, analytical and technology process that helps businesses make health insurance decisions that improve coverage and decrease costs.
Mark Devaney GraficaGroup 908.879.2169 x115 mdevaney@grafica.com
Singer Nelson Charlmers
CONTACT: Mark Devaney of GraficaGroup for Singer Nelson Charlmers,+1-908-879-2169, x115, mdevaney@grafica.com
Web site: http://www.singernelson.com/