developing a benefits strategy for the future€¦ · developing a benefits strategy for the...

DEVELOPING A BENEFITS STRATEGY FOR THE FUTURE

Todd RennerHead of Mercer

Marketplace 365+

James Bernstein Mercer Marketplace 365+

Solution Leader

H E A L T H W E A L T H C A R E E R

B R O U G H T TO Y O U B Y

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H O U S E K E E P I N G

Credit Questions Topic

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O B T A I N I N G C R E D I T

Be watching using YOUR unique URL

for login

Stay on the webinar, online for the full 60

minutes.

Certificates delivered by

email no later than 11/06/16

The use of this seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval. Recertification Credit Hours Awarded: 1 Specified Credit Hours: HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, SPHRi™ recertification through HR Certification Institute's® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.

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A G E N D A & S P E A K E R S

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M E G A T R E N D S

T H E E M P L OY E R B E N E F I T Q U AN D ARY

P R O V E N R E S U LT S

H O W TO TAK E C O N T R O L

Todd RennerHead of Mercer

Marketplace 365+

James Bernstein Mercer Marketplace 365+

Solution Leader5 Q & A

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MEGA TRENDS

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M E G A T R E N D S A R E R E D E F I N I N G E M P L O Y E E H E A L T H C A R E & B E N E F I T S S T R A T E G I E S 5

—M U L T I -

G E N E R A T I O N A L W O R K F O R C E

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—P A Y O R &

P R O V I D E R C O N S O L I D A T I O N

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—E X T E N S I V E

R E G U L A T O R Y C H A N G E S

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Greater Complexity

Higher Costs

Greater Diversity

—C O N S U M E R

E M P O W E R M E N T

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More Self-service

—T E C H N O L O G Y

A N D D A T A E X P L O S I O N

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More Accountability

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Unprecedented funding for and advances in digital health brings explosion of new opportunities for employers and employees

BIG DATA ANALYTICS

T E C H N O L O G Y & D A T A E X P L O S I O N A C L O S E R L O O K

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…and empower your employees to do the same?

How do we tackle the challenges and harness the opportunities?

What is our recent track record in reversing the healthcare cost trend?

M E G A T R E N D S E M P L O Y E R S & E M P L O Y E E S F E E L O V E R W H E L M E D

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THE EMPLOYER BENEFIT QUANDARY

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EMPLOYERS THIRD-PARTIESBROKERS

• Employers face budgetary constraints due to ever increasing benefits costs

• Increasing number of technology solutions on the market o Administrative o Health care

Employers turn to their broker for answers

• Third-parties design solutions to fit local broker budget …$1 to $2 PEPM which is deducted from commissions

• Commission dollars are relatively fixed

• Regional and local broker business models set (no R&D or investment dollars)o Limited resources for

evaluation of technology

o No resources to build

Brokers turn to third-parties

T H E S M B E M P L O Y E R B E N E F I T Q U A N D A R Y

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I N V E S T M E N T A P P L I E D D O E S N O T M E E T S C A L E O F P R O B L E M

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HOW TO TAKE CONTROL

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M U LT I -G E N E R AT I O N AL

W O R K F O R C E

PAY O R & P R O V I D E R C O N S O L I D AT I O N

B R O AD R E G U L ATO RY C H AN G E S

T E C H N O L O G Y AN D D ATA E X P L O S I ON

C O N S U M E R E M P OW E RM E N T

G R E AT E R P L AN C H O I C E

M AR K E T L E V E R AG E

I N T E R G R AT E D C O M P LI AN C E S E RV I C E S

AG I L E AN D E V E R -E X PAN D I N G P L AT F O R M

D E C I S I O N S U P P O R T TO O L S

Trends Future-Ready Solution

H O W T O T A K E C O N T R O L ?

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W H A T D O E S A F U T U R E R E A D Y S O L U T I O N L O O K L I K E ?S T R A T E G Y + T E C H N O L O G Y + E M P L O Y E E E X P E R I E N C E

Local Consulting

Decision Support Technology

Accessibility Vendor Integration Compliance Health

Advocacy

Communications

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E V A L U A T I N G A C O M P L E X L A N D S C A P E

HOW CAN THIS SOLUTION HELP ADDRESS THE MEGA TRENDS THAT IMPACT MY COMPANY AND MY EMPLOYEES?

WHAT KIND OF TRACK RECORD AND STABILITY DOES THIS SOLUTION HAVE? WILL THIS SOLUTION BE AROUND IN A FEW YEARS, OR WILL I BE SHOPPING AGAIN SOON?

WHAT TOOLS WILL THE SOLUTION OFFER TO SUPPORT EMPLOYEES WITH ALL ASPECTS OF THEIR HEALTHCARE EXPERIENCE?

ARE THESE TOOLS EASY TO USE, OR DO MY EMPLOYEES HAVE TO BE COMPUTER SCIENCE MAJORS?

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E V A L U A T I N G A C O M P L E X L A N D S C A P E

TO WHAT EXTENT CAN WE CUSTOMIZE BENEFITS?

DOES THIS SOLUTION WORK WITH MY CURRENT PAYROLL AND HR SYSTEMS, OR DOES IT REPLACE THEM?

WILL EMPLOYEES BE ABLE TO GET DIFFERENT TYPES OF BENEFITS?

WHAT SUPPORT IS OFFERED FOR ROLLING OUT THE SOLUTION? ANY ONSITE TRAININGS, VIDEOS, OR DEDICATED SUPPORT STAFF?

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PROVEN RESULTS

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F U T U R E - R E A D Y S O L U T I O NW H A T H A P P E N S W H E N A C O N S U L T A N T I N V E S T S ?

9% 1.6% 56%

Average 1ST YearEmployerSavings

AverageYear 2 & 3

Cost Increase

Employees Enrolled in

High DeductiblePlans v 25%

National Average

$975

AverageEnrolled

Employee Savings

Mercer 365+

96%

Call Center Satisfaction

Level

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T H E C L I E N T E X P E R I E N C EC A S E S T U D Y – M A N U F A C T U R E R ( ~ 3 0 0 E M P L O Y E E S )

• Early buy-in from senior leadership and division managers

• Project planning incorporated all of HR’s Q3 and Q4 priorities

• Employee focus groups• Communication and employee education

is critical!• Keep testing

• 2016 Marketplace Medical Savings: $1.1 Million (-38%) compared to 2015 costs

• Enrollment in Marketplace HDHPs: 94% in 2016 compared to 18% in 2015

• Transition to defined contribution• Introduction of call center, online

enrollment, and mobile enrollment• Re-alignment of HR resources – no longer

managing COBRA, 5500, communications

K E Y S TOS U C C E S S

R E S U LT S

Q U E S T I O N S ?P l e a s e t y p e y o u r q u e s t i o n i n t h e Q u e s t i o n s s e c t i o n o f y o u r G o To W e b i n a r p a n e l .

S P E C I A L O F F E RR e c e i v e a F R E E C o s t S a v i n g s A s s e s s m e n t t o l e a r n h o w m u c h y o u c a n s a v e w i t h M e r c e r M a r k e t p l a c e 3 6 5 +

http://www.mercermarketplace365.com/free-cost-savings-assessment.html

P l e a s e e m a i ljames.bernstein@mercer.com t o r e q u e s t a d e m o o f M e r c e r M a r k e t p l a c e 3 6 5 +

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O B T A I N I N G C R E D I T

Be watching using YOUR unique URL

for login

Stay on the webinar, online for the full 60

minutes.

Certificates delivered by

email no later than 11/06/16

The use of this seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval. Recertification Credit Hours Awarded: 1 Specified Credit Hours: HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, SPHRi™ recertification through HR Certification Institute's® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.

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O N - D E M A N D W E B I N A R SW A T C H F R O M A N Y W H E R E , A T A N Y T I M E , A T N O C O S T

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C O M P R E H E N S I V E B E N E F I T S M A N A G E M E N T A N D A U T O M A T E D E N R O L L M E N T

• Ascentis HRIS Software– Manages a variety of benefits plans – Automatically calculates

employees' and dependents' eligibility status.

• Ascentis HRIS provides– Complete historical information

- Tracks all enrollment changes including what, when, and who made the change.

• Benefits enrollment information is– Available through an online self-

service portal from any Internet enabled device.

– Automatically populated onceemployees enter information.

– Benefits selections can be electronically transmitted to insurance carriers for a paperless, accurate and timely enrollment experience.

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C O N T A C T U S

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