The 7 Health Plan Metrics Every HR Professional Must Know

Tuesday 9:45 – 11:00 AM

Session Description

In employee benefits, stereotypically the HR professional is advocating for a comprehensive yet affordable benefits package, and the CFO is concerned with the bottom line. As an HR professional, how much do you really understand the different cost drivers of your health plan? By closely monitoring the seven metrics described in this presentation, you can identify areas of your health plan that might be leading to drastic overspending. First, we’ll dive into these different metrics by discussing its importance to financial health. Next, we will describe how each is calculated allowing you to assess your plan. Lastly, if a correction is necessary, we will discuss strategies to move the metric in a better direction. Once you know your health plan’s seven metrics, you’ll be able to craft a plan to drive better financial sustainability with your health care costs. You’ll be the one that shines in front of the CEO at your next employee benefit review.

Learning Objectives

  1. Learn seven metrics that you should be monitoring to determine the financial wellbeing of your health plan
  2. Discover how to calculate these metrics with your own health plan data and compare to benchmarks
  3. Come away strategies to reduce health plan overspending

 

Nicole Pfeiffer, SPHR, SHRM-SCP, CMS

Nicole Pfeiffer is a Vice President of Employee Benefits for Cottingham & Butler. Nicole has been with Cottingham & Butler since 2004. She offers consultative advice to business decision-makers regarding their employee benefit plans. Prior to Nicole’s role in Employee Benefits, she worked as the Vice President of Human Resources and Director of Marketing for the firm. Prior to joining Cottingham & Butler, Nicole was employed by Procter & Gamble in a Business Development role.