Page 15 - IVX Health
P. 15
Strategic Processes and Tools
01 — IDEAL Proile is a series of questions posed to your leadership that 02 — Healthcare industry benchmarking includes both internal and
identiies your collective belief system around how beneits should be external data sources speciic to the healthcare industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy.
Medical plan benchmarking - Healthcare
Healthcare Benchmarking
Determining sample company’s IDEAL Profile Book of Business Details:
Industry: Health Services (excluding Hospitals)
Plan(s): PPO, HDHP
$1,000 Enrollment Size: All Bubble size denotes enrollment volume
What is your view What is your Is controlling What is the Are your benefit $900
on promoting a philosophy costs the most employer’s role in offerings a
healthy employee toward important your employee’s differentiator or
population? financial security? not a differentiator $800
In addition to “benefits factor in What is your opinion from competitors?
traditional benefit equity” across delivering your on an employee’s Regarding the $700
packages, could employees? benefits choice of benefits? diverse needs of PPO
employees benefit When strategy? your workforce, $600
from What is the Should an employer should employers
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 PPO
benefits)? benefits, do you dependents? group of high- needs, pay for core HIGHER EMPLOYEE CONTRIBUTION -----> $400
What is the consider performing benefits and HDHP HDHP
primary purpose employee’s providers, incents provide options $300
of offering health members to use for other needs, or
plans? disruption? high-performing stick to simple
providers (and limit $200
costs)? offerings?
$100 PPO
Employees should be Benefits are a way to
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to HDHP
employee’s well-being employees $0
decisions company 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
I D E A L RICHER PLAN BENEFITS ----->
31 Sample Client Office of other Health Practitioners Health Services (excluding hospitals)
1
Medical plan contribution benchmarking –(Healthcare Industry)
Sample company’s IDEAL Profile Sample Avg. Monthly EMPLOYEE Contributions by Tier –(PPO)
$900 $800 Avg. Monthly EMPLOYEE Contributions by Tier –(QHDHP)
$800 $700
Your IDEAL scale aligns with the company profile of High D, High L. $700 $600
$600
$500 $500
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $400 $400
your workforce. It is important that your benefits package is valued by your employees and enhances their $300 $300
engagement at work. $200 $200
$100 $175 $581 $479 $835 $100
$0 $0 $123 $470 $368 $679
EE EE+S EE+Ch Family EE EE+S EE+Ch Family
Avg. Monthly EMPLOYER Contributions by Tier – (PPO) Avg. Monthly EMPLOYER Contributions by Tier – (QHDHP)
$1,400 $1,400
$1,200 $1,200
$1,000 $1,000
$800 $800
$600 $600
$400 $400
$200 $200
$0 $503 $920 $856 $1,326 $0 $466 $852 $795 $1,183
The belief system about how benefits should be offered can vary across your leadership. EE EE+S EE+Ch Family EE EE+S EE+Ch Family
32 2
IVX Health — Lockton Total Rewards Practice Overview 15 Lockton Companies
01 — IDEAL Proile is a series of questions posed to your leadership that 02 — Healthcare industry benchmarking includes both internal and
identiies your collective belief system around how beneits should be external data sources speciic to the healthcare industry.
offered to employees. The results drive what beneits you offer, and the
overall strategy.
Medical plan benchmarking - Healthcare
Healthcare Benchmarking
Determining sample company’s IDEAL Profile Book of Business Details:
Industry: Health Services (excluding Hospitals)
Plan(s): PPO, HDHP
$1,000 Enrollment Size: All Bubble size denotes enrollment volume
What is your view What is your Is controlling What is the Are your benefit $900
on promoting a philosophy costs the most employer’s role in offerings a
healthy employee toward important your employee’s differentiator or
population? financial security? not a differentiator $800
In addition to “benefits factor in What is your opinion from competitors?
traditional benefit equity” across delivering your on an employee’s Regarding the $700
packages, could employees? benefits choice of benefits? diverse needs of PPO
employees benefit When strategy? your workforce, $600
from What is the Should an employer should employers
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 PPO
benefits)? benefits, do you dependents? group of high- needs, pay for core HIGHER EMPLOYEE CONTRIBUTION -----> $400
What is the consider performing benefits and HDHP HDHP
primary purpose employee’s providers, incents provide options $300
of offering health members to use for other needs, or
plans? disruption? high-performing stick to simple
providers (and limit $200
costs)? offerings?
$100 PPO
Employees should be Benefits are a way to
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to HDHP
employee’s well-being employees $0
decisions company 0.5 0.55 0.6 0.65 0.7 0.75 0.8 0.85 0.9 0.95 1
I D E A L RICHER PLAN BENEFITS ----->
31 Sample Client Office of other Health Practitioners Health Services (excluding hospitals)
1
Medical plan contribution benchmarking –(Healthcare Industry)
Sample company’s IDEAL Profile Sample Avg. Monthly EMPLOYEE Contributions by Tier –(PPO)
$900 $800 Avg. Monthly EMPLOYEE Contributions by Tier –(QHDHP)
$800 $700
Your IDEAL scale aligns with the company profile of High D, High L. $700 $600
$600
$500 $500
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on $400 $400
your workforce. It is important that your benefits package is valued by your employees and enhances their $300 $300
engagement at work. $200 $200
$100 $175 $581 $479 $835 $100
$0 $0 $123 $470 $368 $679
EE EE+S EE+Ch Family EE EE+S EE+Ch Family
Avg. Monthly EMPLOYER Contributions by Tier – (PPO) Avg. Monthly EMPLOYER Contributions by Tier – (QHDHP)
$1,400 $1,400
$1,200 $1,200
$1,000 $1,000
$800 $800
$600 $600
$400 $400
$200 $200
$0 $503 $920 $856 $1,326 $0 $466 $852 $795 $1,183
The belief system about how benefits should be offered can vary across your leadership. EE EE+S EE+Ch Family EE EE+S EE+Ch Family
32 2
IVX Health — Lockton Total Rewards Practice Overview 15 Lockton Companies
