You want your health plan to give your employees the coverage they need at a price they – and your company – can afford. At IBP Insurance Services, we take a consultative approach to determining the right plan design for your organization.
First we look at your current plans, programs and financials. Then we explore your overall business strategy, company culture and core values so we can understand your benefits philosophy.
We’ll work with you to choose the health care option that does what you need it to. Then you’ll get a detailed roadmap of how that plan can help meet short- and long-term business goals.
Our ongoing benefits management standards ensure a proactive checkpoint every three to six months.
Client Needs Evaluation
At IBP Insurance Services we use various tools such as interviews, focus groups and confidential employee surveys to get a broad overview of your current situation, including:
- Short- and long-term goals
- Forecasted growth
- Current employee recruitment, satisfaction and retention levels
- Incumbent program and broker evaluation
- Projected benefits budget
- Employee perspectives on the value of current benefits
This process serves as the foundation for setting clear, strategic plan design goals, considering value-added programs, identifying areas of potential cost savings and maximizing employee goodwill.
With the right analytics in place, you can project plan costs and see how proposed changes might affect the cost. IBP will implement a customized market analysis to identify potential cost-saving opportunities before moving forward.
Our resources for this process include:
- In-house underwriting/financial analysis tools and capabilities
- Predictive modeling
- Actuarial services for self-funded plan risk analysis and claim projections
- Industry-specific benchmarking data for showing comparative contributions, plan designs and costs — extremely useful for decision-making
By using these resources to facilitate comprehensive market analysis, organized request for proposal (RFP) services and plan renewal negotiations, IBP Insurance Services ensures your costs under control.
Based on the results of our Client Needs Evaluation, we will partner with you to make informed plan design decisions with confidence. We’re there to help you stay focused on:
- Augmenting or removing programs that are working or failing
- Incorporating effective cost containment strategies
- Supporting larger goals, such as motivating your workforce or encouraging wellness
- Choosing benefits that will help attract and retain quality employees
Throughout the plan design process, we work as an extension of your HR team — with open communication, dynamic collaboration and a unified vision for maximum results.
Client Communication and Profile
You’ve got a great plan in place. Now what? To see success and workplace satisfaction, your employees have to understand the benefits. There’s a lot of information to share, and we’ll help you share it in a way that helps secure employee buy-in and foster company loyalty. We design communications, materials that:
- Are concise yet informative
- Explain why and how your plan benefits your employees
- Champions your plan and your company
- Aligns with your overall benefits strategy
- Can be delivered and viewed in digital and printed formats
To meet the ongoing reference needs of your organization benefits administration team, IBP will provide you with your own customized Client Profile, a summary of all benefits, eligibility rules, rates, vendor contact information and more.
Your Client Profile will be updated whenever necessary so you always have current information at your fingertips. Your Client Profile also comes in handy as a tool to illustrate historical rate comparisons and carrier trends for future renewals.