Group Benefits – Customized Benchmark Reports
Benchmarking allows us to take a good, hard look at your group benefits program to make sure it stays current and competitive.
Our Customized Benchmark Report will help you determine how your benefit plans compare to other companies in your marketplace, while also showing you ways to potentially control costs. Successful benchmarking enables a company to understand its competitive position compared to standard peer groups and identify the areas where they can make improvements to their benefits package. After utilizing our Customized Benchmark Report, you’ll have a better understanding of the “big picture” and a broader perspective of the interplay of factors that facilitate the design of a competitive benefits package.
Analyzing how other companies are structuring their plans and strategies they are using to cut costs will arm you with vital information when making important benefit plan decisions.
How do you compare?
To ensure you are providing a package that is both competitive and economical, you need to know how your offerings compare to others in your industry. Benchmark data can provide valuable insight for evaluating your benefits package, something that is more important than ever in light of health care reform
What data can you benchmark?
Does it affect your benefits program? Then we can probably benchmark it for you. Almost any aspect of a benefits program can be benchmarked – including total costs, cost-sharing measures, plan design, voluntary offerings, workers’ compensation and paid leave.
Are you prepared for PPACA?
The regulations and provisions of health care reform require significant changes to benefit plans, and in many cases, tough decisions for employers. How are you handling the expansion of dependent coverage for children or the impact of removing annual limits? How is your company planning to manage the increased costs associated with the autoenrollment provision that will take effect?