Don’t Guess. Know That Your Are Competitive Within Your Industry.
Knowing how other employers are addressing their benefits decisions can allow you to anticipate the shifting benefits landscape and evolve before your competition responds. We can provide you with data on how rising health care costs are affecting other employers.
There is information available for almost any aspect of a benefits program, including total costs, cost-sharing measures, plan design, voluntary offerings, workers’ compensation and paid leave.
Whether you are curious to know how your voluntary disability benefits stack up or are wondering if your paid leave program is comparable to competitors, there is likely benchmark data available. We at Benefit Intelligence, Inc. would be happy to provide you with a variety of benchmark data—simply let us know what you are interested in learning.
Advantages of Benchmarking Your Benefits Program
An attractive benefits program is vital for your recruiting and retention efforts, but it is also a significant expense. 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.
Employer interest in benchmark data has grown over the past decade, as the cost of providing health care benefits continues to skyrocket and companies look for new ways to manage costs. Analyzing how other companies are structuring their plans and the strategies they are using to cut costs may make your own benefit plan decisions a bit easier.
Analyzing how other companies are structuring their plans will arm you with vital information when making important benefit plan decisions.
To ensure you are providing a package that is both competitive and economical, you need to know how your offerings compare to those of other employers in your industry. Benchmark data can provide valuable insight for evaluating your benefits package, helping you conform to or even set industry standards. Quality benchmarking allows you to search for best practices, innovative ideas and highly effective operating procedures that lead to superior performance.
Employer interest in benefits benchmark data has grown over the past decade, as the cost of providing health care benefits continues to skyrocket and companies look for new ways to manage expenses. Analyzing how other companies are structuring their plans and the strategies they are using to cut costs may make your own benefit plan decisions easier. Benchmarking can show you:
- Where your weaknesses are
- Where your strengths are and how to maintain them
- Which areas you can improve
- Strategies for improvement
- New or different ways to do things
Utilizing the resources a UBA broker offers
With thousands of plans entered to date for the 2020 UBA Health Plan Survey, the wealth of information available and data provided is unparalleled within the industry. A Benefit Intelligence consultant can expertly navigate you through your survey to help you determine how you are positioned within your industry when it comes to benefits offered, costs, and utilization.
Do you want to start diving into benchmarking? Give us a ring… or email.
866-550-1020
info@benefitintelligence.com