MVP Health Care Inc

625 State St
Schenectady, NY 12305

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
Needs Attention

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is in-line with peers, in the 52nd percentile.
  • In the last year, LCM Increased by 4%. While peers Increased an average of 0%.
Needs Attention

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 15% of peers have changed carriers since last year.
  • Of those who changed carriers, 0.4% decreased their LCM vs those who stayed with their current provider who saw a 0.4% increase.
  • Current Carrier's market share is in the 99th percentile at 12.5% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

0.925
2023

1.450
2023

1.395
2023

2.289
2023

1.808
2023

1.940
2023

2.244
2023

-
2023

-
2023

1.021
2023

1.148
2023

2.030
2023

2.355
2022

1.990
2022

2.631
2022

2.970
2022

2.203
2022

2.348
2022

2.832
2022

-
2022

-
2022

0.870
2022

1.976
2022

2.355
2022

1.523
2022

1.100
2022
01-01-2022

-
2021

2.348
2021

2.366
2021

2.111
2021

-
2021

-
2021

0.870
2021

1.148
2021

1.976
2021

1.902
2021
01-01-2020

1.365
2021
01-01-2020

2.745
2020

1.372
2020

-
2020

1.316
2020

1.760
2020

-
2020

0.870
2020

1.081
2020

-
2019

2.158
2019

-
2019

2.133
2019

-
2018

2.158
2018

-
2018

-
2018
01-01-2018

-
2017

-
2017

-
2017

-
2016

-
2016

-
2016

-
2016

1.283
2016

1.448
2016

-
2016

1.150
2015

-
2015

-
2015

1.450
2015

-
2015

-
2015

-
2015

1.387
2015
11-15-2014

-
2014

-
2014

1.387
2014
01-01-2014

-
2014
01-01-2014

-
2014
03-16-2014

-
2014
03-16-2014

-
2013

-
2013

-
2013

1.387
2013
01-01-2013

-
2013
01-01-2013

-
2013
09-24-2013

-
2012

1.000
2012

-
2012

-
2012

-
2012
09-24-2012

-
2011
09-24-2011

-

Contacts

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Benefits Admin
(229) 936-2110
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(473) 717-7892
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President
(324) 337-6174
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Benefits Admin
(475) 166-5518
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Benefits Admin
(153) 010-1829
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Benefits Admin
(313) 267-5382
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Benefits Admin
(677) 782-3924
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Benefits Admin
(537) 445-7723
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Principal
(625) 001-4009
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 286,184,771 $ 376,783,726 $ 934,087,171 $ 700,834,394 $ 74,846,427 $ 287,261,949 $ 442,048,487 $ 202,955,601 $ 767,207,465 $ 809,756,269 $ 75,632,993 $ 41,844,006
Liabilities: $ 0 $ 0 $ 420,325 $ 520,364
EE Contrib: $ 13,871,372 $ 85,064,781 $ 41,428,388 $ 71,844,378 $ 9,858,947 $ 61,204 $ 51,425,097 $ 2,697,325 $ 7,546,302 $ 9,182,041 $ 1,373,394 $ 5,757,833
Emp Contrib: $ 7,425,973 $ 9,118,670 $ 4,270,454 $ 7,182,958 $ 7,502,920 $ 3,964,153 $ 2,182,440 $ 3,183,259 $ 466,516 $ 815,799 $ 2,735,229 $ 9,491,834
Income/Loss: $ 22,426,548 $ 33,341,637 $ 64,500,682($ 79,561,846) $ 73,745,407 $ 3,500,075($ 5,665,078)($ 7,274,382) $ 87,117,178 $ 55,128,776($ 8,653,074) $ 43,366,847
Total Income: $ 57,275,240 $ 24,535,427 $ 5,595,852 $ 3,326,150 $ 4,647,665 $ 52,884,051 $ 75,976,853 $ 2,960,133 $ 40,215,014 $ 85,314,396 $ 97,626,513 $ 3,944,828
Paid Benefits: $ 33,787,604 $ 21,705,669 $ 11,221,349 $ 25,059,644 $ 20,193,279 $ 8,435,953 $ 96,530,445 $ 95,727,920 $ 58,321,080 $ 95,539,436 $ 9,248,172 $ 809,251
Expenses: $ 0 $ 4 $ 4 $ 543 $ 4 $ 3 $ 10 $ 26
  Commission: $ 75,674 $ 4,503 $ 96,205 $ 852,246 $ 32,014 $ 70,024 $ 17,841 $ 536,461 $ 696,365 $ 621,809 $ 941,969 $ 102,968
Net Income: $ 23,409,910 $ 12,920,074 $ 3,012,920($ 3,217,462) $ 70,930,799 $ 82,139,481 $ 398,599($ 292,233) $ 52,393,124 $ 6,549,477 $ 7,598,197 $ 25,582,259
Net Assets: $ 309,594,681 $ 310,205,845 $ 140,536,190 $ 132,873,182 $ 284,957,083 $ 117,672,010 $ 818,869,113 $ 293,401,619 $ 719,656,330 $ 674,248,750 $ 966,099,656 $ 435,006,134

Participants

202120202019201820172016201520142013201220112010
Total Participants:206635925304124582775475263442310524310863433158
Active Part.:158143893653064086635370372184168377422842081668
Retired Part.:249199293116967019
Deceased Part.:106501756215893524

Insurance

No Insurance Coverage

Providers

WRANYLE CQPIK, CIQUQW, QQVHCA SOP WRecordkeeping and information management (computing, tabulating, data processing, etc.)
Investment management fees paid indirectly by plan
Shareholder servicing fees
Sub-transfer agency fees
Float revenue
Distribution (12b-1) fees
Securities brokerage commissions and fees
Other investment fees and expenses
Compensation:$73,934
Relation:RECORDKEEPER

Features

    2E - Profit-sharing

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2R - Participant-directed brokerage accounts provided as an investment option under the plan.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Health Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 0 $ 9 $ 0 $ 1 $ 9 $ 2
Liabilities: $ 0 $ 3 $ 16 $ 38 $ 3 $ 10 $ 988 $ 9
EE Contrib: $ 0 $ 635 $ 6 $ 6 $ 9 $ 55 $ 5
Emp Contrib: $ 0 $ 751 $ 5 $ 4 $ 72 $ 2 $ 4
Income/Loss: $ 0 $ 55 $ 57 $ 52 $ 8 $ 9 $ 51 $ 7 $ 88
Total Income: $ 0 $ 5 $ 79 $ 9 $ 977
Paid Benefits: $ 0 $ 5 $ 5 $ 0 $ 0
Expenses: $ 0 $ 75 $ 9 $ 4 $ 3 $ 42 $ 5 $ 95
  Commission: $ 0 $ 0 $ 500 $ 4 $ 2 $ 79 $ 0 $ 421 $ 20 $ 2
Net Income: $ 0 $ 616 $ 4 $ 6 $ 42 $ 8 $ 113
Net Assets: $ 0 $ 47 $ 5 $ 867 $ 0 $ 20 $ 4 $ 54 $ 1 $ 4

Participants

202120202019201820172016201520142013201220112010
Total Participants:173068535561230556375088795285266809442777274112
Active Part.:158898685091657201660752939323256552093978594264
Retired Part.:1425740407364816225646781
Deceased Part.:eab2db5b 76b639 72 e

Insurance

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Renewal:12-31-2021
Covered:1568
  1. Temp. Disability Insurance

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 757,177
Commission5.84% $ 44,184
Fees0% $ 0
Brokers
YKPPINUGSFGF XKXF VDNKSDQKF BRUMAZO
Renewal:12-31-2021
Covered:1570
  1. Temp. Disability Insurance

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 152,061
Commission10.06% $ 15,297
Fees0% $ 0
Brokers
CTMKOGYHWTHO XEWT VOHSNZFBN WHBQINZ
Renewal:12-31-2021
Covered:2161
  1. Life Insurance
  2. Temp. Disability Insurance
  3. Long Term Disab. Ins
  4. ACCIDENTAL DEATH & DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 820,796
Commission10.61% $ 87,063
Fees0% $ 0
Brokers
AWVQLDCVKXDI MTHI FFQEHBNLB YXVWSVX
Renewal:12-31-2021
Covered:622
  1. Health

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 144,946
Commission5.87% $ 8,505
Fees0% $ 0
Brokers
TEBQCONXGXUD HAYWGMVO FUB FVJABRYR WQJXKAXIM LX.
Renewal:12-31-2021
Covered:195
  1. LEGAL

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 37,548
Commission11.89% $ 4,466
Fees0% $ 0
Brokers

Providers

No Providers

Features

    4A - Health (other than vision or dental).

    4B - Life insurance.

    4D - Dental.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.

    4Q - Other.

Motor Carrier