Look Ahead
A multi-year plan reduces the odds of repeating the same difficult renewal. A multi-year plan sets goals for cost, funding and plan design, then sequences changes so each renewal builds on the last.
Plan beyond this renewal.
A multi-year plan sets goals for cost, funding and plan design, then sequences changes so each renewal builds on the last.
It also gives leadership a budget path instead of annual surprises.
What a Multi-Year Plan Contains.
A multi-year plan sets goals for cost, funding and plan design, and then sequences changes across renewals so that each one builds on the last. For example, one year may focus on contribution structure, the next on pharmacy and the third on funding.
It is also a record of why decisions were made. When leadership changes or someone asks about a past choice, the plan gives the answer.
The plan is reviewed every year and adjusted as the market, claims and workforce change.
A few more questions.
How far ahead should we plan?
Three years is common. The plan should be detailed for the next year and directional beyond that.
Can the plan change?
Yes. Markets, claims and priorities move, so it is reviewed yearly.
Who should be involved in the plan?
HR, finance and a leadership sponsor, with the account team preparing the analysis.
How detailed should it be?
Specific enough to guide the next renewal, and general enough to survive changes.
What if a goal turns out to be unrealistic?
We adjust it and note why. A plan is a working document.
Related guides.
Employee Benefits Strategy Consulting in Michigan
Funding, contributions, vendors and compliance.
Can you help if our renewal is flat and there are no savings?
Yes. We look at contribution design, plan design, pharmacy and vendor terms, and multi-year planning rather than rate alone.
How often should we review our benefits strategy?
Annually at a minimum, with the main work starting several months before renewal.
Employee Benefits Strategists
What a strategist does that a renewal does not.
Send us your renewal.
We’ll tell you whether it looks competitive, where we see opportunity, and the five questions we’d put to your carrier. No cost, and no obligation to move anything.
The renewal letter
Your current plan summary
Contribution split by tier
Enrolled counts by tier
Four documents — two more if your group is 50 or more. Nothing else; every extra one is a reason to postpone.
An independent employee benefits consulting firm. We look at the entire benefits program: cost, plan performance, risk and administration.
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