Employee Benefits Consulting
Blue & Co. has customized employee benefit options for every business. Our firm is uniquely equipped with professionals who have years of experience creating customized retirement plans and helping organizations assess their pharmacy benefits.
At Blue Benefits Consulting, we actively monitor the laws that relate to pension administration and keep you informed of its impact. Our innovative ideas and efficient administration services are designed to keep your plan running smoothly, whether you need a new plan or modifications to an existing plan.
Plan Design & Consulting Services
- Plan design tailored to the needs of your company and employees
- Consultation with your financial advisor and attorney to finalize plan provisions
- Cost projections of various design alternatives
- Assistance maximizing tax advantages
- Preparation of plan documents and administrative forms
- Communication of plan provisions to your employees
- Employer contribution calculation
Trust reconciliation and annual reporting
- Regulatory compliance and non-discrimination testing
- Participant statements and annual notice preparation as required
- Participant distributions, including hardship, in-service and rollovers
- Application of forfeitures according to your plan provisions
- Calculation of participant loans and supporting documentation
- Preparation of submission-ready Form 5500 ready for electronic signature
- Assistance with governmental or external audits
- Representation for IRS or DOL audit of plans
- Preparation of application for IRS and DOL correction programs
The Pharmacy Benefits Consulting team is comprised of pharmacists who have been exposed to all sides of the pharmacy supply chain and work to bring that unique perspective to our clients. Our independent approach allows us to work with all PBMs, both big and small, to find the best solution for the client and their employees.
The world of pharmacy benefits continues to get more complicated, and that is unfortunately not an accident. Pharmacy benefit managers, also known as PBMs, such as Optum, CVS Health, and Express Scripts, cover more than 80% of the American public’s pharmacy needs. Due to their size and control over the pharmacy industry, they can negotiate […]
The world of pharmacy benefits is not transparent by design — pharmacy benefit managers do not want you to look into where your costs are truly going. Join Blue & Co., LLC on Tuesday, April 13 from noon to 1 p.m. for a webinar where our team of Pharmacy Consultants will explain how pharmacy benefit […]
by Mickie Murphy, Blue Benefits Consulting | This article was originally published on March 24th and was most recently updated on June 4th. It is being updated as new information becomes available. We have answers to questions employers are asking about their plans: Changes to Plan Contributions Can employees stop their deferral contributions? Employees may […]
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