Where we see opportunity: the levers and what each is worth.
Funding, plan design, or contribution changes worth a second look before you sign anything. Each option comes with its cost to the company and to employees at each tier, so you can see who pays for a change before you make it. Contribution changes can often still be made close to the renewal date, while a funding change needs more lead time.
Opportunity is a list of levers, each with a dollar figure beside it.
Once we know whether the renewal is competitive, we show what could change the number: plan design, employer contribution, funding approach, pharmacy arrangements or a different carrier. Each is priced in dollars, not described in general terms.
Some levers cost employees more and some do not. We show both, so the decision about who bears the change is yours, with the numbers in front of you.
The levers we look at.
Plan Design and Contribution
Changes to deductibles, copays and the employer share, with the effect on the budget and on employees shown separately.
Funding Approach
Whether a different funding arrangement fits your size and claims history, and what it would and would not change.
Other Carriers
Where a different carrier is worth pricing, and where the evidence says it would not help.
How the Levers Are Compared.
Each lever is shown with its cost to the employer and its effect on employees at each tier, so you can see who pays for a change before you make it. Typical levers are plan design, contribution structure, carrier and funding arrangement.
We compare them on the same basis, with the assumptions listed. Some levers have deadlines, and some depend on carrier approval, so we note what has to happen and when.
The aim is a short list of changes worth making, and a clear statement of the ones that are not.
Questions about opportunity.
What if you find nothing?
We say so. A renewal with no real opportunity is a useful finding, and the read explains why.
Do you recommend one lever?
We recommend an order of operations, with the reason for it. The decision on what to do remains yours.
Does using a lever mean changing carriers?
Not necessarily. Many levers work with your current carrier. Switching is one option among several.
Which lever is usually easiest?
Contribution changes are often the easiest to carry out, though they affect employees directly.
How do we choose?
By weighing cost, employee impact and risk, with the model beside you.
Do all levers need carrier approval?
Plan design and carrier changes do. Contribution changes generally do not, but check plan documents.
General information, not legal advice. Plan-specific questions belong with your counsel, and we will bring them in.
Where to go from here.
Back to send us your renewal →
Back: whether it is competitive →
An independent employee benefits consulting firm. We look at the entire benefits program — cost, plan performance, risk and administration.
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