Health Benefit Advisors

About Health Benefit Advisors

Meet The Principal

Keith Demty

Keith is an Executive Healthcare Risk Management Consultant, with thirty years of Healthcare financing, actuarial, and underwriting experience, with particular expertise in claims management, plan designs, rating methodologies, risk assessment measures, stop loss and other funding arrangements options.
Medical claims continue to drive the cost of employer-sponsored healthcare, and Keith leverages his claims management and financial expertise to support cities, towns, school districts, and other large and small employers and labor health funds secure comprehensive health benefits at affordable rates for their employees, retirees, and members.

Keith’s in-depth knowledge of healthcare funding options help employers and funds determine whether to “fully-insure” or “self-fund”, and if they self-fund, what type of Stop Loss is appropriate for the size and risk within the group. His knowledge of the local market’s insurance carriers, claims trends, value-based medical plan designs, formularies, pharmacy/drug rebates, dental plans, and wrap-around products like HRAs and HSAs provides employers with industry expertise when negotiating coverage.

Keith began his career at Blue Cross Blue Shield of Rhode Island, where he became the company’s Senior Underwiring Executive and AVP of Actuarial Services, and developed the rating formulas used to calculate group rates in both the large and small group markets. He was responsible for balancing both enrollment and the financial reserves of the company, managing an overall book of business approaching $2 billion in annual premiums.

Keith also oversaw the company’s stop loss reinsurance program for self-insured accounts; development of rating trends and profit margins; health plan design and pricing; regulatory compliance and legislative reform; rate filings with the Office of the Health Insurance Commissioner (OHIC); and forecasting. During his tenure, he led the company to a record level of corporate reserves.

Subsequently, Keith oversaw the development and on-going operations of a municipality healthcare purchasing collaborative - the Rhode Island Interlocal Trust, representing over 25 municipalities and $125 million in annual premiums. At the Trust, Keith directed the Employee Benefits division, where he managed the entire program, including carrier selection and negotiations, stop loss, all financial results, sales, marketing, and account management.
At the Trust, Keith improved undercapitalized pool reserves to over 200% of the necessary Risk-Based Capitol (RBC) thresholds, and grew enrollment over 50% (from 15,000 to over 24,000 covered lives) during the first three years of operations. He consulted government officials on medical, dental, and prescription drug plan designs and costs, provided consultative services for Stop Loss, plan designs, and ACA compliance. He oversaw RFP process that generated $15 million in savings to program participants.

Keith has also worked with Rhode Island’s Healthcare Exchange - HealthSource RI, helping them develop into one of one of the most successful SHOP exchanges in the nation. He has expertise in state-operated exchanges and compliance of the ACA, allowing him to provide expert consulting services and compliance guidance to small employers, guiding them in effective and comprehensive plan design selection, employee contribution schemes, and tax implications.
As a partner at HBA, Keith also worked with a second, large municipality collaborative with over 7,500 employees, as well as the RI Federation of Teachers and the National Education Association of RI administrative teams. His Underwriting expertise and ability to analyze detailed claims data helped achieve millions of dollars in savings in Stop Loss costs, Medical & Dental benefits, etc.

He also works directly with individual seniors to help them navigate through Medicare, Medicare supplements, and Medicare Advantage options.
In addition to providing group consulting, Keith and the team at HBA also works directly with individual seniors to help them navigate through Retirement Planning, including Medicare options and investment strategies. Clients include retirees from RIPERC, most trade-labor funds, including the RI Laborers, Local 57 Operating Engineers, Teamsters, IBEW, Carpenters, BUW, and the Carpenters, along with RIFT, NEARI, and AFSCME.

Keith is a past chairman of the Blue Cross, New England District, Actuarial and Underwriting Committee. He holds a BS in Industrial Engineering from the University of Rhode Island and successfully completed programs in negotiation at the Harvard Business School.

Testimonials

People don’t plan to fail but they sometimes fail to plan, and that certainly applies to retirement. First-hand experience with the team at HBA (Health Benefit Advisors) has proven that they have the experience, knowledge, and commitment to help make difficult decisions about Medicare, Social Security, and retirement planning less complicated. HBA can help provide the “peace of mind” from having confidence in your retirement strategy.
Michael Sabitoni   Business Manager RI Laborers Local 271, President RI Building & Construction Trades Council

The expression "you don't know what you don't know" would have been appropriate with regard to my understanding of both Medicare and Social Security. But thanks to Keith Demty, Bob Dumais, and the team at HBA for patiently and painlessly filling all the gaps. These topics are much more complicated than I ever understood them to be and it’s easy to see how making the wrong choices can adversely impact your health, lifestyle, and budget possibly forever. Thank you HBA for being RI Labor friendly and for lifting a huge burden from me and my husband.
Maureen Martin,   Secretary Treasurer,   RI AFL-CIO, April 2017

Just a note to tell you that your presentation to our group was very informative and will be very useful to all of our members who were in attendance.
Your organization is a much-needed resource especially to retirees who are in need of information on current events regarding their well-being. Your presentation accomplished that quite well and on behalf of our membership, I thank you.
Jeremiah O’Connor,   Chairman Pawtucket Public Safety Retirees Association,
Past NEARI UniServ Rep,   Past Teamsters Local 251 Business Agent,   Feb 2017

When I retired in 2016 I signed up for Social Security. What I didn’t realize was that I had to also sign up for Medicare Part B, Part D and a supplement. There was no document or vehicle to help me to navigate this retirement world. As a result I wound up paying over $800 out of pocket in medical bills because my coverage was not complete prior to getting a medical procedure. The team at Health Benefit Advisors pointed me in the right direction and their advice and counsel was crucial to my situation. I regret that I did not contact HBA prior to my decision to retire so that I could have made better decisions from the onset.
James Riley,   Labor Liaison RI Institute For Labor Studies and Research, Retired Secretary Treasurer UFCW Local 328,       Jan 2017

It has been a pleasure to work with the representatives at Health Benefits Advisors. Keith Demty, Bob Dumais, and Mark Medeiros are knowledgeable and have up to date information when dealing with Healthcare benefits. They have been personable and innovative when discussing alternatives for my family and myself.
I highly recommend this group to anyone who needs to investigate and choose their healthcare coverage.
Raymond J. Pouliot,   Past NEARI Vice President,   Member of the NEARI Retired Executive Board, Jan 2017

NEARI has trusted Keith Demty to handle negotiations for health insurance and related benefits for about 6 years. We have been extremely pleased with their service. Keith not only works to handle the best deals for our negotiations, but also go the extra mile by continuing to research new trends and vendors in the industry to ensure that we are constantly using industry best practices.
HBA also works tirelessly to educate our retired members on understanding Social Security, signing up for Medicare and ensuring that they are covered for all health insurance issues. Their education and advocacy in this area is very educational, and they are happy to meet with anyone to help them out or to assist us when we do educational seminars for the membership.
I trust Keith, I think he is very knowledgeable and conscientious when advocating for our association. I would recommend HBA and Keith Demty to anyone.
Greg Brennick,   Finance Director NEARI,   Jan 2017

My business relationship with Keith Demty spans several years. I am an individual who has been responsible for representing and advocating for members in organizations that I have served in elected positions. In that capacity, I have dealt with numerous vendors and representatives in the benefits marketplace. Various types of insurance products and organizational discounts have been negotiated and provided for thousands of my members and others whom I have represented.
In recent years, Keith Demty has worked closely with me and other organizational leaders who represent Retiree organizations under the umbrella of the Rhode Island Public Employees Retiree Coalition (RIPERC). Our members have benefitted significantly from this relationship, which has given rise to opportunities and access to benefit programs, which have positively impacted the lives of the members whom we represent.
The variety of health-related plans: dental, Medicare supplements, telemedicine, and informational and consultative services for groups and individuals, have been not only well received by our more than 6,000 members, but they have also been instruments that have attracted retirees to our organizations as a benefit of belonging.
The experience, professionalism, and responsiveness of Keith and HBA have become an invaluable resource to me and to other Retiree leaders.
Roger P. Boudreau,   President RI AFT/R Local 8037r,   Chair RIPERC,   Jan 2017

Health Benefit Advisors is a place that our organization can truly rely on in order to assist our retired members in navigating the complex world of Medicare. They recognize that each retiree has unique needs and have been able to assist them in navigating the best plan available to properly meet those needs.   They conduct themselves with professionalism and are true experts in the field. We have received nothing but positive feedback from our members who have worked with HBA and we would continue to recommend their services to anyone.
Ryan White,   Benefits Administrator,   Rhode Island Operating Engineers Local 57,   Dec 2016