Analytics

Does your broker provide reliable health care benchmark data?

Have All the Facts: Benchmarking data from the UBA Health Plan Survey can help you gauge a wide range of factors regarding your health plan offerings, such as:

  • Are company premiums above or below the norm?
  • Are the levels of contributions you require your employees to pay in line with our competitors?
  • Are copays, deductibles, coinsurance and out-of-pocket maximums for your plans in line with averages for your geography, industry and size?
  • How do your annual premium increases compare with other employers in your area?
  • How do your prescription drug benefits compare?
  • Are you in step with the cost-containment strategies being implemented successfully by other companies in our industry?

The Nation’s Largest Survey: The UBA Health Plan Survey is the nation’s largest and most comprehensive survey of U.S. health plans, with validated responses of more than 16,000 health plans sponsored by nearly 11,000 employers, consisting of nearly 5 million lives.

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Do you know the cost drivers in your group’s health spending?

Our sophisticated analytics help us dig deep into your real claims data, to isolate specific cost drivers that we can address with targeted solutions to help manage high health care costs.

Benefit Intelligence can:

  • Identify cost and utilization disparities in your health and Rx claims data by benchmarking against reputable national norms.
  • Develop targeted strategies to lower costs by getting to the root of the problem with advanced data analysis.
  • Help you make educated plan design changes with actuarial plan modeling, so you know the impact on your bottom line and employees before making a change.
  • Formulate Disease Profilers and AdHoc Analysis reports

Altering plan design is one strategic solution we can implement after analyzing your data, but we take it one step further. With our plan modeler, we let you “test drive” potential changes, so you can see the impact of a change—before making any decisions.

Medical Reserve Calculator

Accurate plan performance and financial data are key to the health and success of a plan. With the Medical Reserve Calculator, we can help you establish appropriate reserve levels, identify claims patterns and third-party administrator turnaround-time issues, and more — all which can help you control costs and run your plan more efficiently.

Apart from helping your company establish appropriate reserve levels for a self-funded plan, the Medical Reserve Calculator:

  • Estimates outstanding IBNR claims
  • Protects self-funded plans from unknown claims exposure
  • Identifies and stabilizes claims fluctuations
  • Allows early identification of per- employee claim-cost trends
  • Estimates appropriate carrier-held reserve levels for fully insured plans

With this added consultative tool, we can help you:

  • Develop completion ratios and completion factors
  • Generate necessary monthly and cumulative reserve levels
  • Allow for the inclusion of client- specified margins
  • Calculate monthly claims factors per employee or per Member
  • Illustrate premium vs. claims loss ratios for fully insured plans