Plan Management Tools
Available from RWAM
Plan Management Tools
We know you are looking for a comprehensive suite of Plan Management Tools for maintaining the affordability and sustainability of your clients’ benefit plans. RWAM understands the importance of striking the right balance between providing excellent benefits for employees and managing costs effectively. Our Plan Management Tools offer innovative solutions to address these challenges, ensuring that you can optimize your clients’ benefits offerings without compromising on quality.
Plan Management Tools can help Plan Sponsors:
- Maintain plan affordability
- Tailor options for their Plan Members
- Provide options and resources to their members
- and more!
Drug Plan Management
Drug Plan Formulary’s
Secure Formulary
Secure Formulary – Express Scripts Canada: Overview | PDF
Secure Formulary – Steps for Plan Members: Informational Overview for Plan Administrators | PDF
Specialty Integration Formulary
Preferred Provider Network
RWAM can accommodate most Preferred Pharmacy Arrangements using our Pharmacy Benefit Managers; Green Shield Canada and Express Scripts Canada.
Plan designs such as tiered coinsurance and various co-pays can be tailored to suit client needs.
Advantages to Employees could include:
- Higher reimbursement percentage through a Preferred Pharmacy Arrangement (eg. 90% vs. standard reimbursement of 80%*)
- Lower dispensing fees
- Lower than average drug ingredient costs
- Online pharmacy – available with home delivery at no additional cost
Employees may continue to purchase prescriptions from any pharmacy of their choice. However, a Preferred Pharmacy Arrangement can save out-of-pocket expenses and directly reduce the costs to the benefit plan.
Profit Participation Plan
RWAM’s Profit Participation Plan (PPP) is a funding alternative which allows employers to share in the profitability of Group Health and/or Dental plans. In years when the Health or Dental plan generates an underwriting surplus, participants will share in that surplus with the insurer. In years when the plan generates a deficit, the full deficit is the responsibility of the insurer.
Administrative Services Only
More and more employers are considering self-funding certain aspects of their employee benefit plan. RWAM provides a seamless approach to pricing and administering Administrative Services Only (ASO) benefits in conjunction with insured benefits. Employers can choose from multiple insurance providers, while employees continue to enjoy the convenience of a one-time enrolment process and a consolidated employee Benefits Booklet.
Questions?
If you have questions or need clarification on coverage options, reach out to your RWAM Account Executive.