"We’re so glad to have the Olavi Group's benchmarking tool at our disposal. We can easily help a business compare its plans to various market segments with just a few clicks. It’s a far cleaner process that everyone, regardless of experience, can easily navigate. We have already saved a ton of time in conducting these exercises. With all of the data at our fingertips, we can create a clean graphic for presentations in less than three minutes. Many benchmarks focus simply on medians and means – whereas this tool focuses on percentile groups, which lends far more perspective than your traditional benchmark report."
Case Study: Acme Construction
– Acme offers generous contributions of $6,000 towards coverage (69th percentile) and is close to the median in total health plan value (gold metal level benefits).
– A lower deductible or out-of-pocket maximum are two ways to increase the plan value.
– Contributions to premiums are a key part of benchmarking that is often omitted. The tool allows you to quickly model in one page to set percentile or dollar targets, aid in client renews, give key insights for HR managers, and more.
– Quickly model and save a snapshot of what is most relevant.
Healthcare Benefits Benchmarking
Monthly License-
No Annual Contracts
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Scalable and Impactful
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Unlimited Access for up 5 Users
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Check out. Share link for signups.
FAQs
How do I license the tool? Click “15 day trial.” No payment info is required upfront. After 15 days you can switch your account to a paid account.
What’s the source of the underlying data? The Kaiser Family Foundation Employer Benefits survey underlying data + proprietary employer data.
How often is the data refreshed? Once per year for Kaiser data; employer data is loaded periodically.
What is plan value? Plan value approximates actuarial value, or, on average, the percentage of in-network claims paid by insurance. Values range between 60% to over 90% and are often referred to by metal levels. Bronze is 60%, Silver 70%, Gold 80%, and Platinum 90% +/- 2%. Healthier people will have lower claims and pay a greater percentage, while those with higher claims will pay a lower percentage of the value.