Benefit CONSULTING: Plan Evaluation
To ensure that our clients maintain the best and most appropriate employee benefits plans year after year, Hanratty & Associates will conduct employee satisfaction surveys in addition to an annual analysis of your plan.
Annual Plan Analysis
Every
year Hanratty & Associates requests
bids, on your behalf,
from all insurance carriers with whom we work. This list is extensive
and includes Blue Cross Blue Shield, HealthPartners, Medica, PreferredOne,
CCStpa, Delta, Met Life, Mutual of Omaha, Prudential, and others.
We routinely request these bids to offer the most comprehensive and cost effective products and services to you and your employees. Insurance companies manage their portfolios more or less aggressively as a whole based on their overall results. Periodically, we see vastly differing rate offerings based on carrier results and capacity as determined by their sales and net revenue growth performance.
For our clients who use Select105™, a consumer-driven plan design that works with a variety of carrier plans, we have the ability to track actual plan participant utilization from year-to-year—a tool not available through other plans—and unique specifically to you and your participants. This is invaluable in making informed decisions regarding your health plan design.
An annual plan analysis is especially helpful in advance of the renewal process. Hanratty & Associates will provide you with a detailed analysis of costs, plan designs, risks and recommendations so you can make an informed decision about the coming year.
Satisfaction Surveys
Satisfaction surveys help you and us determine how valuable the programs
in the plan design are to your employees and their dependents. We recommend
conducting an initial benefits satisfaction survey with follow-up surveys
every two years, or whenever a major plan design modification is considered.
Rather than surveying a random sample of your member population, Hanratty & Associates advises reaching all members for an accurate response rate. All surveys are conducted by an external third party to maintain confidentiality.