Using Data Analytics for Targeted Benefit Design

Company Overview

This client, headquartered in King of Prussia, PA and had 242 employees spread throughout 4 offices in the region.

Key Challenges

Many of our larger clients have a diverse employee population, with individuals from varied walks of life, different socio-economic groups and varying degrees of health and well-being. So, it was not a surprise when a large prospect approached us and presented their objective of better designing their employee benefits portfolio to more accurately fit the needs of their specific employee population.

MBA Solution Presented

We turned to our data analytics program to better understand the utilization patterns and needs of this prospect’s insured population. By doing this, we were able to tailor this group’s benefit design, targeting benefits and services most utilized or with the most potential for use, without unnecessary and wasteful benefits. Additionally, the use of analytics enables us to proactively identify at-risk individuals and provide them with advance care and treatment services to help prevent a more significant health care crisis from developing.

Measurable Results

Through the use data analytics, we were able to efficiently utilize this company’s benefits budget to better promote health and longevity among its employees and their families.

And by identifying and heading off major health events before they occurred, large claim utilization dropped by 15% and the company saved over $300,000 in the second year!