Findley’s BenScan® is a financial modeling tool that performs “What If” scenarios for health benefit plans.
Why Use BenScan®?
With the advent of private exchanges, insurance carrier consolidations, Affordable Care Act requirements, and rising prescription drug costs, employers are looking at a variety of plan designs and long-term cost projections to be in line with business objectives and workforce strategies.
How is BenScan® Used?
BenScan® is customized using each client’s claims data, plan design, and employee demographics. When BenScan® is delivered to you, you and your team have the ability to perform “What If” scenarios to draw conclusions on the proper combination of plan changes and employee contributions appropriate to your current business situation and HR objectives.
Common Objectives You Can Achieve Using BenScan®
- Forecast financial impact of health benefit decisions
- Model benefit plan design
- Forecast Cadillac tax implications
- Effective tool you can use in collective bargaining
- Model employee contribution changes and strategies
- Build a business case for change
- Reach consensus among key stakeholders
- Communicate to board members the health benefits decision-making process
BenScan® Implementation Process
- Identify areas of opportunity and set options to model
- Benchmark cost and utilization statistics
- Benchmark plan provisions and employee contributions against industry norms
- Request claims and utilization data from current carrier/TPA/PBM
- Prepare BenScan® with plan-specific provisions
- Load current plan benefits provisions and benefit options for modeling
- Prepare plan cost projection
- Prepare desired client-specific output
- Review model with employer and adjust output as needed
- Deliver BenScan® and provide training
- Client launches interactive tool