Benchmarking is a key component of our consulting services and developing your benefit strategy and plan designs. Once identified, we want to compare your financial results with local and/or national benchmarks. We can compare your benefit plans to other employers of similar size, industry and regions. In some instances you may choose to utilize a different industry benchmark in order to focus on the specific competitors for talent in Northern Arizona Healthcare’s region. We have multiple sources for benchmarking projects including Mercer, The Kaiser Family Foundation, WageWatch, our client base and more. When performing a benchmark study, we include aspects such as your per employee per year costs, contribution strategy for employees and dependents, plan design components, etc. From this benchmark comparison, we can determine if your current plan fits your defined health and welfare plan objectives. This will also assist in designing your future plan design.
A client specific customized benchmarking survey is also available through Lovitt & Touché.