Timing depends on how quickly we receive the information needed from you for the insurance provider to review. The faster we receive your complete information, the faster the process will go! In most cases, the average turnaround time is 7 - 10 days.
5 Step Process
We will need several key pieces of employee information (census information). From the number of employees and their dependents, to work zip codes, to birth dates, this vital information helps the insurance carrier learn more about the population they are covering. Upon receipt, we provide your census information to a select group of insurance providers - this ensures that your group gets several estimates of plans and rates.
One or more of the insurance carriers we contact on your behalf will respond with an initial quote for coverage based on the census you provided.
- Please Note: From this baseline quote, you should be able to determine whether you want to go forward and finalize your quote, if this preliminary estimate is within your budget/price range.
In most cases*, the insurance provider will need health applications from each employee on your team (including information on their dependents). This information is protected under HIPAA and is reviewed only by the Insurance provider - it is not shared with Decisely or anyone else. The insurance provider uses the applications to determine the overall health of your team, and to provide final rates and pricing. The team is quoted as a unit, therefore individual employees within the team are not charged different rates based on their individual medical history.
This information also helps to balance the health risk pool within the overall program to ensure members continue to receive the best rates possible.
- Please Note: This review may result in adjusted pricing or alternative plans being offered.
A group benefit proposal with rates and plans is generated for your review. Your Program Consultant will walk you through the details, help you decide which plans to offer to your employees and verify your FSI membership.
You are the proud owner of group benefits. At this point you will be introduced to your Benefits team. They will make sure you have everything you need for your employees to have a smooth and successful open enrollment.