15 Nov Local Employee Benefit Advisory Firm Provides Employers Access To Results From The Nation’s Largest Health Plan Survey
ClearPath Benefit Advisors
FOR IMMEDIATE RELEASE
Local Employee Benefit Advisory Firm Provides Employers Access To Results From The Nation’s Largest Health Plan Survey
Powerful, custom, complimentary comparison analysis available help local employers ensure they are competitive in their employee benefit offerings.
COLUMBUS, OH (November 15, 2017) – ClearPath Benefit Advisors launches a complimentary service to help local employers compare how their employee benefit plans compare to similar employers regionally and nationally.
Leveraging data from the nation’s largest health plan survey conducted by United Benefit Advisors® (UBA), this service will help local employers better understand if their employee benefits are competitive, recognize beneficial cost reduction strategies and assist companies in ensuring they understand the current industry landscape as they consider future employee benefit goals.
UBA®, the nation’s leading organization of independent employee benefit advisors, actively cultivates, validates and shares knowledge with employer benefit decision makers nationwide to help them evaluate health plans and strategically manage rising costs while remaining competitive. The UBA Health Plan Survey is the nation’s largest and most comprehensive benchmarking survey of health plans – larger and consequently more accurate than the next five national surveys combined.
The results of the 2017 survey have just been released and include data from over 20,000 benefit plans and more than 11,000 employers nationwide. ClearPath Benefit Advisors, a UBA partner firm, can facilitate segmentation of that data by industry, company size, location, plan types and many other factors, as well as lend insight to key trends across the employee benefit landscape and present that alongside a local employer’s plan(s) to help them understand if they ‘measure up’.
“The findings from the UBA Health Plan Survey are absolutely invaluable to employers, but the data is only as valuable as it is relevant,” explained Bill Shimp, ClearPath Benefit Advisors Partner. “Often that relevancy for an employer can get lost in the raw details of the survey results. Through this service, we aim to ensure that the findings of the survey are accessible and actionable for all local employers big and small providing them unbiased knowledge they can leverage for key decision-making, regardless of who their current benefit broker may be.”
“As the costs of healthcare have risen substantially in the United States, more and more companies are moving to self-funding their health plans,” said Tom Rubino, ClearPath Benefit Advisors Partner. “Companies pay a massive amount of money for healthcare in the event that an employee has that need, but only about 20 percent of employees take advantage of those services.”
With such a small percentage of employees incurring medical costs, companies themselves are opting instead to pay the cost for healthcare services up to a predetermined stop-loss amount. ClearPath works with local employers to contain and manage employee benefit costs and specializes in self-funded benefit programs.
“The benchmarking of employee health plans is a critical process for employers to undertake annually. Not only can this type of comparison analysis help employers recognize new trends or ways to reduce costs,” offered Brian Waterhouse, ClearPath Benefit Advisors Partner, “it can also identify areas of inconsistencies or improvement in relationship to other similar plan offerings in the area.”
For more information about the ClearPath difference or to request a customized plan analysis, please contact Thomas Rubino at 614-754-1762 or firstname.lastname@example.org.
About UBA Health Plan Survey
The 2017 UBA Health Plan Survey contains the validated responses of 20,099 health plans and 11,221 employers, who cumulatively employ over two and a half million employees and insure more than five million total lives. While other surveys primarily target large employers, the focus of the UBA survey is to report results that are applicable to the small and mid-size companies that represent the overwhelming majority of the nation’s employers, while also including a mix of large companies in rough proportion to their actual prevalence, nationally. This is an important distinction compared to other national surveys.
About ClearPath Benefits
Headquartered in Columbus, Ohio, ClearPath Benefit Advisors is a comprehensive consulting and advisory firm specializing in group medical and other employee benefits. With over 115 years of combined experience in the marketplace, ClearPath has built the reputation of an industry leader with knowledge that is concise and reliable. ClearPath Benefit Advisors provides a variety of value-added professional services to clients and serves to reduce customer costs, increase efficiency, and improve employee satisfaction.