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

Compliance Services

  • 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

Audit Services

  • Assistance with governmental or external audits
  • Representation for IRS or DOL audit of plans

Plan Corrections

  • 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.

Education Services

  • Educate clients on the pharmacy supply chain
  • Provide overview of commonly used terminology
Contract Review Services
  • Analyzes your PBM contract terms
  • Analyzes your PBM rates
  • Negotiates new contracts
Vendor Management Services
  • Long-term RFP support
  • Manages PBM relationship

Claims Analysis Services

  • Provides a comprehensive review for savings opportunities
  • Analyzes variable copay, movement to lower cost/higher quality pharmacy channel
  • Ensure proper payment terms based on contract definitions
  • Consolidates non-essential drugs from plan formulary

PBM Procurement & Contracting

  • PBM Request for Proposal (RFP)
  • Contract negotiation
  • PBM evaluations
Mickie Murphy, CPC, QPA, QKC, ERPA, Named President of Blue Benefits Consulting, Inc.

Mickie Murphy Named President of Blue Benefits Consulting, Inc.

CARMEL, Ind. (January 5, 2023) – Blue & Co., LLC and Blue Benefits Consulting, Inc. are delighted to share that Mickie Murphy, CPC, QKA, QPA, QKC, ERPA, has been named President of Blue Benefits Consulting (BBC). “I am pleased to announce that Mickie Murphy has been promoted to President of Blue Benefits Consulting, Inc.,” Brad […]

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sas 136 | Will It Impact Your Employee Benefit Plans? | sticky note that says "Employee Benefits" and keyboard and pens

SAS No. 136 and Employee Benefit Plans: What is a Reportable Finding?

SAS No. 136 and Employee Benefit Plans: What is a Reportable Finding? Plan management and plan sponsor personnel have likely heard from their auditors about auditing standard changes impacting their ERISA (Employee Retirement Income Security Act of 1974) audits for the Plan year ending December 31, 2021. These changes primarily result from the implementation of […]

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Pharmacy Benefit Managers: What is Your Plan Paying For?

Pharmacy Benefit Managers: What is Your Plan Paying For?

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 […]

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To learn more about our services and areas of expertise, send us a message.