Our Insight® Mid-Market Benchmark survey has over 15 years of experience behind it. Insight® is well-positioned to meet any requirements you may have for executive and non-executive employee benefits data. An Insight® Benchmark Report is one of the premier sources for employee benefits data and just scratches the surface of the data available through our relationship with a highly-respected, independent, third-party actuarial firm.
Quality control procedures and superior methodology ensure that you have access to the most accurate, relevant data. An Insight® Mid-Market Benchmark Survey can examine your overall experience or a particular subset, such as line of business, group, industry or size. Choosing which results or processes should be benchmarked—or can be benchmarked—is critical. Flexible data allows you to see your results from different desired perspectives.
Employer groups and carriers continue to face healthcare trends that exceed inflation. Insight®, supported by our data and proprietary tools, is uniquely positioned to assist both employer groups and carriers to understand which services offer the most opportunity to reduce cost without reducing benefits.
Topics Covered in the Survey:
- Medical
- ACA Metal Levels
- Cost Containment Strategies
- Prescription/Pharmacy Plan
- Wellness
- Disease Management
- Alternative Care Options
- Dental
- Vision
- Benefits cost as a percent of payroll
- Retirement DB & DC
- Domestic partner benefit availability
- Paid Time-off
- Short-term Disability
- Long-term Disability
- Sick Leave
- Life Insurance
- Flexible Benefits
- Tuition Reimbursement
- EAP
- Long Term Care and more
Our actuarial relationship allows us to drill deeper into your results for the most accurate insights. The database is built upon one of the largest healthcare industry normative data sets in the country, it includes contributors such as national payor, large employers and the Centers for Medicare and Medicaid Services 5% data sample, among others. The database contains millions of lives and billions of records of medical claims, pharmaceutical claims and eligibility information. We employ rigorous data collection methods, along with actuarial adjustment factors, to create the most credible database for benchmarking.
Our actuarial research team applies the highest standards of data integrity to the empirical data in order to create advanced adjustment factors, such as the following:
- Geography and industry
- Age and gender
- Benefit design
- Group size (Individual, Small and Large Groups)
- Calculations from a continuum of loosely managed to well-managed, constantly striving to meet national best practices, regardless of regional variation.
- Custom parameters that leverage the Insight® empirical database to create personalized adjustment factors.
Insight® offers the ability to generate custom benchmarks with deep drill-downs on plan design, contribution strategy, industry, size, and geography. The vast Insight® database, rigorous organizational methods and advanced adjustment factors let you effectively use your data for:
- Plan Design and Contribution Analysis
- Healthcare Reform Trends
- Performance and Trend Management
- Custom Methods
Benchmarking Should Never Be BORING…
We have seen the data in the Insight® survey time and again be leveraged to create the most innovative and effective employee benefit strategies saving employers time, money and the frustration of trying to find what will work best for their size, industry and part of the country.