A Strategic Approach to Benefits Cost Containment
As the cost of employee benefits continues to rise each year, organizations like yours are tasked with this challenge: choosing a benefit plan that will be attractive to new and existing employees without negatively impacting your bottom line.
As a top 25 broker, CBIZ offers the cost containment expertise to identify how to maintain high-quality employee benefits while controlling rising health plan costs.
We’ll start by gaining a thorough understanding of your organization’s prospective and retrospective data trends and how you’re currently positioned to build value-oriented and cost-effective benefits plans for your employees.
Based on your organization’s unique goals and objectives, we’ll then look at cost and plan designs, employee demographics and the plans of similar-sized employers. Using this information, our experts will analyze your current plans against the marketplace and look at some of the key issues driving plan costs to help you understand how your organization can achieve the best value for your health plan spend. There are a variety of solutions we can explore, such as:
- Promoting health care consumerism
- Optimizing employee communications
- Developing an employee wellbeing program
- Changing funding structures
- Investigating new health plan options
These are just a few examples of strategies we can help your organization implement to contain costs without sacrificing the quality of your benefits offerings.
Why CBIZ Employee Benefits?
As we analyze your current plan and seek cost-cutting solutions, we’ll collaborate with both our in-house teams, including our pharmacy, human resources and actuarial experts, and local consultants. In addition, we’ll consider external factors that may be driving your expenses, like the ever-increasing cost of prescription drugs. At the Annual Performance Review, we’ll review these findings and provide recommendations based on your goals and objectives for the upcoming year.
With CBIZ on your side, you’ll receive actionable solutions backed by expert advice. Let us help you strike the balance between quality and cost-effectiveness in your benefits offerings.