Comprehensive Benefits Program Assessment:

• Complete inventory of all benefits offered (active employees, retirees, executives)
• Plan design documentation and summary plan description (SPD) review
• Funding structure analysis (fully insured, self-funded, stop-loss arrangements)
• Current carrier and vendor contracts review
• Historical premium and claims cost analysis
• Enrollment and participation data examination

Financial Analysis:

• Benefits cost normalization and run-rate calculation
• Benchmark comparison against industry standards
• Cost trend analysis and forward projections
• Accounting treatment review (ASC 715, retiree benefits, etc.)
• Outstanding liabilities identification (retiree medical obligations, COBRA)
• Budget impact modeling under various integration scenarios

Compliance Risk Assessment:

• ACA compliance review (measurement, affordability, reporting)
• ERISA plan governance and fiduciary compliance
• COBRA and continuation coverage administration
• HIPAA privacy and security compliance
• Form 5500 filing accuracy and timeliness
• Required notice and disclosure distribution verification
• State-specific compliance across all locations

Hidden Liabilities and Risk Identification:

• Retiree medical and life insurance commitments
• Outstanding claims and IBNR liabilities for self-funded plans
• Pending or threatened litigation or regulatory actions
• Withdrawal liability for multiemployer pension plans
• Change of control provisions in executive agreements
• Union contracts and collectively bargained benefits
• Non-qualified deferred compensation obligations

Carrier and Vendor Relationship Assessment:

• Contract terms, renewal dates, and termination provisions
• Change of control clauses and assignment restrictions
• Performance issues or service concerns
• Relationship quality and continuity considerations
• Commission and compensation arrangements

Integration Planning Considerations:

• Program harmonization strategy and timeline
• Employee impact analysis and retention risk
• Cost to bring target benefits to acquirer standards (or vice versa)
• System integration requirements and costs
• Communication strategy and change management needs
• Regulatory approvals or notifications required

Day One Readiness:

• Immediate post-close benefits administration continuity
• Payroll and deduction coordination
• Employee communication addressing benefits during transition
• Carrier and vendor notifications
• Compliance obligations management

Integration Strategy Development:

• Optimal timing for benefits harmonization
• Grandfathering and transition provisions
• Cost sharing and funding decisions
• Voluntary vs. mandatory changes
• Retention considerations in integration decisions

Integration Execution:

• New plan design and carrier selection if needed
• Employee communication and education campaigns
• Enrollment process management
• System integration and data migration
• Vendor transition and consolidation

Comprehensive Report Including:

• Executive summary of key findings and recommendations
• Detailed assessment of all identified risks and issues
• Financial analysis and cost projections
• Compliance findings requiring remediation
• Integration strategy recommendations
• Risk ranking and prioritization

Transaction Impact:

• Purchase price adjustment recommendations based on findings
• Indemnification and warranty language suggestions
• Escrow considerations for uncertain liabilities
• Post-close action items and timeline