Benchmarking and Cost Containment
Evaluating your Current Plan and Identifying Cost Savings
Benchmarking your current benefits plan is an essential activity for determining cost savings and additional avenues of plan improvement.
As the local partner firm of United Benefits Advisors (UBA), we are able to incorporate the most up-to-date data, strategies and insights from the industry to deploy illuminating benchmarking tools and ultimately identify cost containment opportunities.
Effective benchmarking allows employers to gauge a wide range of factors:
- Are our insurance plan premiums above or below the norm?
- Are the levels of contributions we require employees to pay in line with our competitors?
- Are copays, deductibles, coinsurance and out-of-pocket maximums for our plans in line with national averages?
- How do our annual premium increases compare to other employers in our area?
- How do our prescription drug benefits fare?
- Are we in step with the cost containment strategies being implemented successfully by other companies in our industry?
- What about Consumer Driven health Plans, HRAs and HSAs, employee consumerism, wellness programs and health risk assessments, chronic disease management programs, domestic partner benefits and flexible spending accounts?
Working with a partner that has the ability to effectively benchmark your current plan offers tremendous value to organizations interested in remaining competitive in terms of employee recruitment, plan superiority and employee engagement.
To get a quick assessment of your current plan as well as actionable recommendations and insights from a Schwartz advisor, sign up for a free coverage review.
Testimonials - Direct Customer Feedback
"Your folks jump right in and handle everything ... each has gone above and beyond to make my job easier. It is truly a pleasure to work with them."
Owner, small print shop