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Can I Lower My Medical Spend?

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If you are like most mid-market employers you expect your health plan costs will continue to rise. It seems an almost impossible task to find a way to offer a plan that financially benefits both the employee and employer. Knowing where to tighten the belt is specific to each employer. One size does not fit all.

As part of your cost savings strategy, are you currently using benchmarks to set goals and measure performance of your health care plans?

As in most situations, data is king. Identifying the patterns of trends and utilization can help employers make better plan design changes that can have an impact on lowering the total cost of their medical spend.

The 2016 Mid-market Employer Health Benefits Benchmarking Survey can provide you with this data.

This survey is conducted by the largest actuarial firm in the world, it is free and confidential. Upon completion of the survey, you will receive an individualized custom report. This data can help provide valuable insight into your plan and where your cost centers are. 

Your individualized custom survey results will include:

  • How your employee benefits compare to other employers
  • Strategies other employers use in this health care reform era
  • What types of Wellness/disease management initiatives peers are leveraging
  • The prevalence of consumer driven health plans in your area
  • The types of cost control strategies other employers utilize
  • Compares your plan to others in your industry and company size

If you would like to see where your company's health plans compare to your peers, and want to know your medical spend cost drivers,  CLICK HERE to take the survey. Or forward this information to your HR Director of Benefits Manager and encourage them to complete the survey. The survey deadline has been extended until July 29, 2016.

 

Cobbs Allen is one of 34 exclusive, private broker-partners of the largest actuarial firm in the world. Through this relationship, we are able to deliver insight into employee health and welfare plan costs, risk management, medical, dental, and ancillary plan forecasting.