Page 21 - HealthStream
P. 21
Strategic processes and tools
IDEAL Proile is a series of questions posed to your leadership that Industry benchmarking includes both internal and external data
identiies your collective belief system around how beneits should be sources speciic to HealthStrream’s industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy.
Determining sample company’s IDEAL Profile Medical plan benchmarking
Medical Plan Industry Benchmarking
Book of Business Details:
Industry: Technical/Professional Services (Other)
Plan(s): PPO, HDHP
Enrollment Size: All
What is your view What is your Is controlling What is the Are your benefit $1,000 Bubble size denotes enrollment volume
on promoting a philosophy costs the most employer’s role in offerings a
healthy employee toward important your employee’s differentiator or $900
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $800
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $700
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $600
nontraditional considering offer a plan that offer an array of
benefits (i.e., changes to your employer’s offers a broad range benefit plans that $500
voluntary company’s responsibility to of providers, a small meet employee
benefits)? benefits, do you dependents? group of high- needs, pay for core HIGHER EMPLOYEE CONTRIBUTION -----> $400
What is the consider performing benefits and
primary purpose employee’s providers, incents provide options $300
of offering health members to use for other needs, or PPO
plans? disruption? high-performing stick to simple $200
providers (and limit HDHP
costs)? offerings? $100 Sample Client HDHP
Employees should be Benefits are a way to $0
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
employee’s well-being employees
decisions company RICHER PLAN BENEFITS ----->
I D E A L 1 Sample Client Plan Industry Benchmarks
31 1
Benchmarking — PPO medical plan
Sample company’s IDEAL Profile Sample Industry Industry Industry
Sample Client
75th
PPO National — PPO National — PPO National — PPO
25th
Mean
Parameters In Network Tier 1/Tier2
Your IDEAL scale aligns with the company profile of High D, High L. Median In-Network Deductible $1,200/$2,400 $452 $1,126 $1,500
• Employee
• Family $2,400/$4,800 $905 $2,460 $3,500
Median In-Network Copay
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on • Primary $30 / 70%* $18 $23 $30
your workforce. It is important that your benefits package is valued by your employees and enhances their • Specialist $50 / 70%* $25 $37 $50
$200
engagement at work. • ER $100 / $150 $154 $253 $370
$37
• Urgent Care
$50
$16
Median In-Network Coinsurance
• Inpatient 80%* / 70%* 90%* 85%* 80%*
• Outpatient 80%* / 70%* 90%* 85%* 80%*
Median In-Network OOP Max
(Includes Deductible)
• Employee $4,200 / $7,000 $3,250 $4,401 $5,500
• Family $8,400 / $14,000 $6,600 $9,762 $11,955
Median Pharmacy Copays (Retail)
• Generic 100% preventative; $5 all $8 $11 $15
other generic
• Formulary 100% preventative; 80%,$20 $30 $40 $45
min / $100 max all other
formulary brand
• Non-Formulary N/A $50 $70 $80
Average EE $ Contribution Per Pay Period Monthly
• Employee (FT/PT) $65.71/$81.35 N//A $158 N/A
• Family (FT/PT) $199.71/$215.68 N/A $584 N/A
Average EE % Contribution
• Employee N/A N/A 22% N/A
• Family N/A N/A 27% N/A
Actuarial Values
• Benefit Ratio 82% 91% 86% 83%
The belief system about how benefits should be offered can vary across your leadership.
32
HealthStream — Lockton Total Rewards Practice overview 21 Lockton Companies
IDEAL Proile is a series of questions posed to your leadership that Industry benchmarking includes both internal and external data
identiies your collective belief system around how beneits should be sources speciic to HealthStrream’s industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy.
Determining sample company’s IDEAL Profile Medical plan benchmarking
Medical Plan Industry Benchmarking
Book of Business Details:
Industry: Technical/Professional Services (Other)
Plan(s): PPO, HDHP
Enrollment Size: All
What is your view What is your Is controlling What is the Are your benefit $1,000 Bubble size denotes enrollment volume
on promoting a philosophy costs the most employer’s role in offerings a
healthy employee toward important your employee’s differentiator or $900
population? financial security? not a differentiator
In addition to “benefits factor in What is your opinion from competitors? $800
traditional benefit equity” across delivering your on an employee’s Regarding the
packages, could employees? benefits choice of benefits? diverse needs of $700
employees benefit When strategy? your workforce,
from What is the Should an employer should employers $600
nontraditional considering offer a plan that offer an array of
benefits (i.e., changes to your employer’s offers a broad range benefit plans that $500
voluntary company’s responsibility to of providers, a small meet employee
benefits)? benefits, do you dependents? group of high- needs, pay for core HIGHER EMPLOYEE CONTRIBUTION -----> $400
What is the consider performing benefits and
primary purpose employee’s providers, incents provide options $300
of offering health members to use for other needs, or PPO
plans? disruption? high-performing stick to simple $200
providers (and limit HDHP
costs)? offerings? $100 Sample Client HDHP
Employees should be Benefits are a way to $0
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
employee’s well-being employees
decisions company RICHER PLAN BENEFITS ----->
I D E A L 1 Sample Client Plan Industry Benchmarks
31 1
Benchmarking — PPO medical plan
Sample company’s IDEAL Profile Sample Industry Industry Industry
Sample Client
75th
PPO National — PPO National — PPO National — PPO
25th
Mean
Parameters In Network Tier 1/Tier2
Your IDEAL scale aligns with the company profile of High D, High L. Median In-Network Deductible $1,200/$2,400 $452 $1,126 $1,500
• Employee
• Family $2,400/$4,800 $905 $2,460 $3,500
Median In-Network Copay
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on • Primary $30 / 70%* $18 $23 $30
your workforce. It is important that your benefits package is valued by your employees and enhances their • Specialist $50 / 70%* $25 $37 $50
$200
engagement at work. • ER $100 / $150 $154 $253 $370
$37
• Urgent Care
$50
$16
Median In-Network Coinsurance
• Inpatient 80%* / 70%* 90%* 85%* 80%*
• Outpatient 80%* / 70%* 90%* 85%* 80%*
Median In-Network OOP Max
(Includes Deductible)
• Employee $4,200 / $7,000 $3,250 $4,401 $5,500
• Family $8,400 / $14,000 $6,600 $9,762 $11,955
Median Pharmacy Copays (Retail)
• Generic 100% preventative; $5 all $8 $11 $15
other generic
• Formulary 100% preventative; 80%,$20 $30 $40 $45
min / $100 max all other
formulary brand
• Non-Formulary N/A $50 $70 $80
Average EE $ Contribution Per Pay Period Monthly
• Employee (FT/PT) $65.71/$81.35 N//A $158 N/A
• Family (FT/PT) $199.71/$215.68 N/A $584 N/A
Average EE % Contribution
• Employee N/A N/A 22% N/A
• Family N/A N/A 27% N/A
Actuarial Values
• Benefit Ratio 82% 91% 86% 83%
The belief system about how benefits should be offered can vary across your leadership.
32
HealthStream — Lockton Total Rewards Practice overview 21 Lockton Companies
