Page 20 - Friendship Village
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Strategic processes and tools
02 — IDEAL Proile is a series of questions posed to your leadership that 04 — 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 Industry)
Determining sample company’s IDEAL Profile Healthcare Benchmarking
Book of Business Details:
Industry: Health Services (excluding Hospitals)
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?
traditional benefit equity” across delivering your on an employee’s Regarding the $800
packages, could employees? benefits choice of benefits? diverse needs of
employees benefit When strategy? your workforce, $700
from What is the Should an employer should employers PPO
nontraditional considering offer a plan that offer an array of $600
benefits (i.e., changes to your employer’s offers a broad range benefit plans that
voluntary company’s responsibility to of providers, a small meet employee $500
benefits)? benefits, do you dependents? group of high- needs, pay for core
What is the consider performing benefits and HIGHER EMPLOYEE CONTRIBUTION -----> $400 PPO
primary purpose employee’s providers, incents provide options HDHP HDHP
of offering health members to use for other needs, or
plans? disruption? high-performing stick to simple $300
providers (and limit
costs)? offerings? $200
Employees should be Benefits are a way to $100 PPO 2020
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to
employee’s well-being employees HDHP 2020
decisions company $0 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. EMPLOYEE Share of Premium – (PPO) EE+S EE+Ch Family
EE
100% 100% 100% 100%
Your IDEAL scale aligns with the company profile of High D, High L. 80% 80% 80% 80%
60% 60% 60% 60%
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on 40% 37% 40%
your workforce. It is important that your benefits package is valued by your employees and enhances their 40% 25% 40% 40% 40%
engagement at work. 20% 20% 20% 20%
0% 0% 0% 0%
Average Average Average Average
Avg. EMPLOYEE Share of Premium – (QHDHP)
EE EE+S EE+Ch Family
100% 100% 100% 100%
80% 80% 80% 80%
60% 60% 60% 60%
40% 40% 36% 40% 32% 40% 37%
21%
20% 20% 20% 20%
The belief system about how benefits should be offered can vary across your leadership. 0% 0% 0% 0%
Average Average Average Average
32
2
Friendship Village — Lockton Total Rewards Practice overview 20 Lockton Companies
02 — IDEAL Proile is a series of questions posed to your leadership that 04 — 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 Industry)
Determining sample company’s IDEAL Profile Healthcare Benchmarking
Book of Business Details:
Industry: Health Services (excluding Hospitals)
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?
traditional benefit equity” across delivering your on an employee’s Regarding the $800
packages, could employees? benefits choice of benefits? diverse needs of
employees benefit When strategy? your workforce, $700
from What is the Should an employer should employers PPO
nontraditional considering offer a plan that offer an array of $600
benefits (i.e., changes to your employer’s offers a broad range benefit plans that
voluntary company’s responsibility to of providers, a small meet employee $500
benefits)? benefits, do you dependents? group of high- needs, pay for core
What is the consider performing benefits and HIGHER EMPLOYEE CONTRIBUTION -----> $400 PPO
primary purpose employee’s providers, incents provide options HDHP HDHP
of offering health members to use for other needs, or
plans? disruption? high-performing stick to simple $300
providers (and limit
costs)? offerings? $200
Employees should be Benefits are a way to $100 PPO 2020
ER should Influence Sensitive to Disrupting Economical Accountable for their create loyalty to
employee’s well-being employees HDHP 2020
decisions company $0 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. EMPLOYEE Share of Premium – (PPO) EE+S EE+Ch Family
EE
100% 100% 100% 100%
Your IDEAL scale aligns with the company profile of High D, High L. 80% 80% 80% 80%
60% 60% 60% 60%
Strategies that disrupt employees need to carefully weigh the reasons for a change with the impact on 40% 37% 40%
your workforce. It is important that your benefits package is valued by your employees and enhances their 40% 25% 40% 40% 40%
engagement at work. 20% 20% 20% 20%
0% 0% 0% 0%
Average Average Average Average
Avg. EMPLOYEE Share of Premium – (QHDHP)
EE EE+S EE+Ch Family
100% 100% 100% 100%
80% 80% 80% 80%
60% 60% 60% 60%
40% 40% 36% 40% 32% 40% 37%
21%
20% 20% 20% 20%
The belief system about how benefits should be offered can vary across your leadership. 0% 0% 0% 0%
Average Average Average Average
32
2
Friendship Village — Lockton Total Rewards Practice overview 20 Lockton Companies
