In order to make informed decisions, employers require credible data.
Starboard’s proprietary reports provide human resources professionals with the tools and information necessary to evaluate and administer international employee benefits plans.
Benefit Plan Recommendation Report - including consultation
Objective: To provide specific statutory and competitive non-statutory plan levels.
- Plan design details
- Typical market practice
- Financing methods
- Social Security and mandatory requirements
- Statutory leaves, public holidays and vacation
Objective: Secure local quotes.
- Collect and distribute census data to the local broker
- Engage local broker services
- Provide plan specifications
- Compile aggregate quote results and prepare a summary of plans and costs
- Discuss quotes, answer questions and provide recommendation
Objective: Implement client approved benefit plans.
- Coordinate with and authorize local broker to implement cover
- Review insurance contract documentation for accuracy
- Review billing for accuracy and communicate payment requirements
- Review and approve all employee communication materials
- Ensure the completion of all enrollment requirements
- Provide plan highlights sheet
Ongoing Plan Management
Objective: Provide ongoing collaborative support and management of local benefit programs.
- Plan renewal management and analysis
- Manage resolution of escalated local issues
- Monitor local regulatory changes
Optional – Plan Administration Services
- Benefits enrollment and termination notification administration.
- Billing reconciliation resolution.Recommendations and referrals for non-insurance benefits, e.g., meal, grocery and transportation vouchers. Pre-tax, salary sacrifice, childcare and incentive plans such as bike to work credits.
- Voluntary, insurance and retirement benefits.
Gap Analysis and Compliance Report
Objective: Analyze current practice against benchmark to identify necessary changes to achieve future objectives and determine if client is in local regulatory compliance.
We benchmark against competitive practice or agreed standard, (e.g. 50th percentile).
- Data gathering; inventory of local benefits, policies, descriptions and demographic analysis
- Statutory funding requirements vs. actual
- Statutory leaves vs. actual
- Identify emerging trends or pending legislative changes
- Graphic Deviation Summary (Heat Map)
Merger and Acquisition – Employee Benefits Due Diligence Report
Objective: Risk assessment.
- Compliance and Gap Analysis with varying levels of depth
- Pre or post acquisition
- Identify potential risks and unfunded liabilities
Multinational Pooling Analysis
Objective: Determine the benefits and potential financial advantages.
- Review any existing pool arrangements
- Determine the existence of any natural pools
- Conduct geo-mapping of current locations and expansion plans
Business Mobility Programs
Objective: To assess the risks, benefits and solutions associated with a mobile workforce.
- Expatriate and Third Country National plans
- Business Travel Medical and Accident plans
- International wellness programs
- International payroll services
- International PEO options
- Local entity establishment
- Legislative and compliance requirements
- Accounting and legal
- Actuarial services