Can I Trust The Data Used For The Insight® Comparative Analysis?

The data leveraged by Insight® to perform detailed and customized comparative analysis is sourced from one of the largest, most in-depth databases of health plan data available grounded in a half century of actuarial expertise to the healthcare industry. 

Our data warehouse provides Insight®  across the nation’s  regions, industries and employers. This information can leveraged to see how your offerings measure up when compared to others like you nationally or by state, region, or nationally, by industry and company size, as well as a ability to drill-down into more in depth parameters to ensure valuable, relevant and actionable results.

Some examples of how results can be categorized are:

  • Plan design types
  • Premium costs
  • Employer vs. employee costs
  • Benefit design elements

These outcomes can be directly applied to the small to midsize companies that comprise 98% of the nation’s 5 million-plus employers, as well as to larger employees. This data allows us to make recommendations on cost-containment strategies and ideas, as well as map competitive strategies supported by detailed Insight®.

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Our actuarial relationship allows us to drill deeper into your results for the most accurate insights. The database is built on 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:

The Insight® research team applies the highest standards of data integrity to the empirical Analyze® 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.

The Insight® Mid-Market Benchmark Survey offers the ability to generate custom benchmarks with deep drill-downs of Insight® for almost all benefit plans. The vast database lets you effectively benchmark your data by:

  • Region (city, state, etc.)
  • Industry
  • Group Size
  • Employer Type

Preview Key Findings:

Below are a few examples of some of the latest Insight® survey key findings.

  1. The Indiana Area offers slightly richer plan designs on all plan types compared to National, however, the premiums are slightly less rich.
  2. As early as 2016 trends began to reflect 49% of all Indiana Area plans were HDHP.  
  3. The majority of all plans in this market are Fully Insured, however, typically as the number of employees increases, so does the percentage of Self-Insured plans.
  4. The median final cost increase – after all plan design changes – is 2% for the Indiana Area. This is lower than the National increase of 5%.
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