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Understanding the Math of Your Health Plan Renewal

Lorman Education Services

Feb. 17, 2017
Recorded Online
Webcast

1:00 - 2:30 pm EST

Controlling health care costs becomes a bigger issue each year when it comes time to renew your health plan contract.

Managing health plans due to increased complexity and regulation can be a challenging experience. It is essential to fully understand the concepts and terminology in your health insurance renewal in order to help you identify inefficiencies and produce savings.

This topic will help those professionals responsible for their company's health plan to identify those inefficiencies then design and build successful strategies that can have both short and long term cost savings. This topic will explain the math and formulas health plans use to produce your renewal and identify some of the most common mistakes employers make analyzing the renewal. This information is critical to employers who are looking to drive long term cost sustainability out of their health plans and to solve business challenges in the area of employee benefits.

Learning Objectives

  • You will be able to define ‘experience period', ‘reserves' and ‘Rx rebates'.
  • You will be able to describe a strategic timeline to begin the renewal process.
  • You will be able to discuss the role your broker should play during the renewal process.
  • You will be able to explain Alternative Funding Solutions.

Continue by clicking on the following link:
http://www.lorman.com/training/understanding-the-math-of-your-health-plan-renewal?affiliate=benefitslink&p=16054&c=99

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