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Home/Benchmarking
Benefits
Insurance Solutions, Inc. is pleased to announce
that United Benefit Advisors (UBA), an alliance of the nation's
premier independent benefit advisory firms, has released the results
the 2006 annual employer-sponsored health plan benchmark survey.
With responses from 13,663 health plans sponsored by 9,603 employers
nationwide, the 2006 UBA/Ingenix Health Plan Survey is by far the
largest and most comprehensive survey of plan design and plan costs
ever conducted. The focus of the survey was to provide effective
benchmarks to the large majority of employer plan sponsors who have
fewer than 1,000 employees with data that is critical in managing
their programs effectively.
Many of ISI’s clients participated in this survey, providing
valuable information which was utilized in compiling these results.
The survey report provides vital benchmark statistics on hundreds
of health plan factors, including detailed enrollment, plan design,
plan cost, employee premium cost-sharing, prescription drug, retiree
plans, and flexible spending account norms.
As a result, these survey findings allow ISI clients to obtain a
clearer perspective of their benefits programs in comparison to
the industry average. This is vital in providing benchmarks to clients
in the assessment and analysis of their Employee Benefit Programs.
The sheer magnitude of this survey provides an understanding of
comparable plan designs and costs relevant to small and mid-sized
businesses.
The results are of tremendous value in helping clients evaluate
the effectiveness of their current plans and to knowledgably make
future adjustments to keep their benefits both competitive and cost-effective.
The unprecedented number of respondents defines benchmarks for a
greater number of specific industries, regions, and employee size
categories than have ever been available previously. "With
employer health plan information reported for over 2,600 cities
from virtually every state in the country, differences in plan design
and plan costs between various regions and industry groups become
apparent”, said Larry Ulvila, President and CEO of Insurance
Solutions, Inc. “This unique level of additional information
provides important factors in determining not just what is happening
with health plan costs, but why it’s happening.” As
UBA member, ISI is better positioned to help employers and employees
respond more efficiently and effectively to the challenges of an
ever-changing employee benefits marketplace.
For further information concerning this survey as well as specific
results, please contact Insurance Solutions, Inc. at (877) 267-1110;
(410) 267-1111, or via email at information@insursol.com.
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