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Importance of Employee BenefitsWhat can we do?Claim experience analysisBenefit benchmarking and designUtilization analysis
Offering a good employee benefits plan to employees is crucial for businesses that want to attract and retain top talent, boost morale and productivity, and reduce absenteeism and turnover.
Not only does it provide employees with greater financial security, but it also builds a better employer branding and stand out in the competitive job market for employers.As your Employee Benefit Consultant, we aim to help you maintain a sustainable benefit plan.
Competitive Benefit Plan Design
- Benchmarking and comparison
- Longitudinal research
- Usage review
- Alternative/options
Well-understood by Employees
- "Marketing your benefit plan"
- Staff engagement & communication
- Valuable health knowledge sharing
Stable Claim Experience
- Detailed claim analysis
- Top diagnosis review
- Claim control and preventive measures
Reasonable Premium
- Study of claims trend
- Fair price analysis
- Actuarial projection
Employee Benefits Claims Experience Analysis
What does claim ratio affect?- Managing claims can help employers controlling costs and ensuring that employees have access to the care they need. Claims can impact insurance premiums, coverage, and employee perceptions of their benefits.
- Conduct detailed claims analysis to understand member's utilization patterns
What did we see?
Both Hospitalization and Outpatient incurred claim had increased over 60% since 2019.
The cumulative result of price adjustment in multiple medical supplies and healthcare services will accelerate the overall cost in healthcare industry.
We will use our ElB research to compare...
The GUM Employee Insurance Benefits (EIB) Research is conducted since 2003, in collaboration with The Hong Kong Polytechnic University to capture the market picture in three key areas:- Benefit provision scope
- Benefits costing
- Medical insurance utilization
More insights from our EIB Research
Download Report ExtractEmployee Benefits Benchmarking and Design
What will we do?
Benchmark the benefits against the market practice to ensure market competitiveness
Align benefit offerings with client's in-house people development policy
Our Analysis
All employees are categorized into 4 levels for comparison on benefit level.Uni Class
Key Executive
Supervisory Staff
General Staff
Did your plan meet the market average?
Download EIB ReportLoadings Breakdown of the Premium
Overall Premium
Medical Benefit Level
Dependent
Medical Benefit Usage
Relative Insurer Charge Margin
Employee Benefits Utilization Analysis & Review
What does utilization affects?- Utilization reflects employee health needs and is a key indicator for projecting medical premium costs. Monitoring utilization helps employers optimize coverage and costs.
- Review the existing health benefit coverage and identify risk with terms and conditions
- Understand your employees' concerns and issues around the health benefit program
Sourcing and Selection of Service Provider
What will we do?- Conduct market research to identify service providers according to approved coverage
- Analyse the prospective service provider according to several criteria set by GUM and the client
- Shortlist service providers according to the evaluation
Don't Wait. Act Now!
Talk to us for more details of Employee Benefits Plan Design and Review
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