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OBJECTIVE: To use my 30+ years in the employee benefits field to work with an employer in managing their benefit programs.
ACCOMPLISHMENTS:
Total Rewards: Worked with a number of large multinational companies in developing financially efficient Global Benefits Strategy:
Responsibilities included working with senior management team to develop a set of “guiding principles” for all plans based on interviews with all stakeholders (Senior Management). Once the “guiding principles” were adopted and communicated; worked with each country’s program to develop a 3-5 year implementation plan to comply with the Global strategy.
Recommendations
Included: Development of a defined contribution strategy for all retirement schemes.
Development of a health & welfare programs which would integrate with national programs, i.e. the use of supplemental plans for UK employees. Creation of a Global life insurance pooling arrangement.
Health & Welfare: Worked with a number of large corporations in designing their health & welfare programs including:
- Design and implementation of a Consumer Directed Healthcare model which resulted in renewal increases in the past two years of 4% less than medical care inflation.
- Compliance with HR Privacy regulations (HIPAA)/ including the new electronic rules.
- Design and implementation of “total compensation” flexible benefits
program, allowed for different divisions to select programs that best met their needs. Allowed for acquired companies to easily be integrated into existing structures.
- Design and implementation of disease management programs resulting in reduced long term claim costs.
- Design and implementation of managed disability program.
- Design and implementation of budgeting tool for tracking monthly
medical expenses versus budget, allowed for corporation to immediately understand if they were “off budget” and to address issues immediately.
- Redesign and implementation of various retiree medical programs:
including defined contribution retiree medical and consumer directed
retiree medical, resulting in reduced FAS expense and allowing for employers to maintain their current retiree medical designs.
- Redesign and implementation of various prescription drug programs.
- Assist clients with pricing of plan designs for Union negotiations.
Retirement: Worked with firm actuaries in the design and implementation of new retirement programs:
- As part of the movement to a “total rewards” structure, assist a number of clients with pension redesign from defined benefit to cash balance or to full defined contribution plans
- Assist a client with reviewing current asset allocation due to stock market volatility
- Assist a number of clients with addressing company stock within their 401(K) plan
Administration: Assisted a number of clients transitioning to and monitoring of outsourcing vendors or internal shared services organizations.
Clients: Aquila, City of New York, IBM, Eaton Corporation, Museum of Modern Art, SEIU Local 74 Welfare Fund and Urban Outfitters, Inc.
November 1996 - Present:
Partner, Kwasha Lipton Company
Northeast Health & Welfare Practice Leader -
PricewaterhouseCoopers/Unifi Network
Partner, New York Metro Region of PricewaterhouseCoopers
Responsibilities include the management of staff development, which includes 22 staff plus 2 partners. Specific initiatives include but are not limited to the following:
- Provide staff to support the technical and consulting requirements of our outsourcing business;
- Manage a number of the firm’s largest clients in developing overall benefits strategy, flexible benefit plan offerings and retiree medical plan design;
- Responsible for all marketing activities and RFP processes regarding Health & Welfare practice;
- Responsible for developing the PwC’s Health Plan Index (HPI) which collects data from all managed care organizations (PPO/POS/HMO) to use in evaluating their plan offerings. HPI is currently web enabled;
- Northeast Practice Champion for development of Consumer Directed Healthcare approach;
- Clients include but are not limited to Eaton Corp., Aquila, Inc., Western Resources, City of New York, Instinet, Museum of Modern Art and Lockheed Martin;
- Quoted on healthcare issues in Business Insurance, New York Times, Wall Street Journal, CFO Magazine;
- Have appeared on CNN and CNNfn ("CNN MONEY");
- Published in Benefits Quarterly discussing the future of retiree health & welfare benefits.
1989 – November 1996:
National Practice Leader - Deloitte and Touché LLP Integrated
Health Group
Simultaneously served as Partner-in-Charge of the New York practice.
- Built practice to 13 professional and over $3 million in revenue with a 25% margin by 1996;
- Expanded scope of services to include managed care strategy development, vendor performance measurement, managing the managed care vendor and merger and acquisition services for KKR and the Blackstone Group;
- Lead the New York Practice into the payer/provider consulting field. Clients included Northshore University Hospital system, Connecticare and Partners Health Plan of Mass. Worked with a number of PHOs and MSOs in developing products and strategies for managed care integration. Worked with our actuarial staff in developing capitation strategies;
- Clients included Rockwell International, KKR, Inter America Developmental Bank and a number of multi-employer plans.
As a National Practice Leader, the two primary responsibilities were to develop a national marketing initiative and to assist other health and welfare partners in developing both national and local strategic plans. Secondary responsibilities included the development and implementation of national training sessions; work with other functional healthcare leaders in tax, audit and management consulting to build a Deloitte and Touché national approach to healthcare.
While acting as National Practice Leader, revenues increased from $4 million to $25 million with projected margins in excess of 20% and growth of 24% projected for the next three years. In 1996 the practice employed 13 professionals with revenue in excess of $3 million. Primary focus of the practice was employer health and welfare consulting. Services included managed care strategy development, vendor performance measures through performance standards, managing the managed care vendor and merger and acquisition due diligence. Clients included KKR (and portfolio companies), Rockwell International and some large multi-employer plans. Led the New York practice’s move into payer/provider consulting and worked with other partners in building a national strategy.
May 1984 - May 1989:
Principal, William M. Mercer, Morristown, NJ and Baltimore, MD
Primary responsibilities included working with other partners in building health and welfare practice. Major engagements included development and implementation of flexible benefits plan for Baltimore Gas and Electric, part of acquisition team of Alcatel Ltd. of ITT telecommunications operations. Responsibilities included the negotiation of which liabilities to be transferred to Newco and development of internal administrative systems to allow all divisions to operate independently. Clients included Morristown Memorial Hospital System, Overlook Hospital System and other mid-sized New Jersey clients.
Other Professional Employment
1979 - 1984 Johnson & Higgins of New Jersey and Chicago, IL;
Title - Vice President
1977 - 1979 The Becker Company (Benefit Consultants);
Title - Consultant
1973 - 1977 The Prudential Insurance Company of America;
Title - Underwriter
Professional Activities and Affiliations
American Management Association (AMA) - Instructor, employee benefits section of the Basics of Human Resource Management (1996 - current)
International Foundations of Employee Benefits – Instructor in Basics of Health & Welfare Benefits course
SHRM - Member and guest speaker
Quoted: Wall Street Journal, Business Insurance, CFO Magazine and other periodicals.
Interviewed on CNN Headline News regarding how alternative health care is covered by HMOs
Education:
Master of Arts, the Pennsylvania State University, 1973 Major: Speech Communication Arts
Bachelor of Arts, the Pennsylvania State University, 1970 Major: Speech Communication Arts |