Introduction: Derek Weir, Manager, Health Benefit Solutions at Medavie Blue Cross, offers an in-depth look at the latest trends, digging deep into our data to turn the numbers into valuable insights you can use to inform your benefit decisions. In this blog, Derek shares the key findings of his research and analysis, and then breaks it down in more detail.
Top 3 Trends: Making Sense of the Data
Top 3 Takeaways: Applying the Data
1. Take a fresh look at your benefits plans: Advisors can play a role in providing insights to employers to ensure their plan spends are optimal.
2. Ask if your plan spend is optimized relative to your plan objectives: Is the money you are spending accomplishing your plan objectives or are you leaving money on the table?
3. Ask if there are potential savings that can be reinvested in benefits that align with your plan objectives: Are there ways to save money and put it towards benefits that employees want and need, e.g. increasing your psychology benefit? Are there plan changes that can be made on the drug side to contain costs while still ensuring employees have access to the right treatments for them?