New industry standard to provide both benefits decision support for employees and medical plan-insight and ROI tools for employers to construct more cost-effective medical benefit offerings
BOSTON, MA, September 20, 2022 /24-7PressRelease/ — Flimp Communications, a leading provider of employee benefits communication solutions for employers, today announced its PLANselect® medical plan decision-support product includes advanced health plan analysis and utilization forecasting tools for employers and consultants. These new analytics tools and visuals are designed to help employers and brokers predict plan-selection outcomes and understand cost implications when modeling potential plan-design changes for eligible employees and dependents. These new features will significantly improve an employer’s ability to forecast and manage health plan-related costs and outcomes. Users can create a best-fit plan analysis for different tiers of employees by adjusting plan-cost variables like premiums and HSA contributions to align health plan offerings with optimal utilization outcomes. This is particularly useful for employers that want to analyze and predict estimated plan adoption and costs prior to rolling out new health plans to employees.
“Constructing optimal medical plan offerings for each employee segment can be challenging for HR leaders and their consultants. Our new PLANselect analytics and utilization tools provide insights that will help them make better-informed, high-quality plan decisions and reduce costs for both employees and employers,” said Wayne Wall, CEO and founder of Flimp Communications. “We’re excited to be among the first to offer employers and brokers these valuable health plan analysis tools at no additional cost.”
PLANselect is typically half the cost of commonly used cartoon-style decision-support tools while generating three to four times higher employee-engagement rates. Now employers can both make a meaningful impact on employee medical plan choices, while accurately measuring and forecasting cost outcomes. The plan analysis tools include:
–Best-Fit Plan Analysis: PLANselect analytics identifies the highest value plan for each tier based on level of usage, while providing estimated out-of-pocket costs.
–Forecasted Enrollment: This feature allows HR teams and employers to view and compare current and forecasted plan enrollment by coverage tier. Once you understand the current recommendations and enrollment shifts, you can see how plan design and premium adjustments would affect forecasted enrollment and costs using the What-If Analysis.
–Forecasted Financial Implications Tool: Based on the projected enrollment, it demonstrates the impact your proposed benefit plans will have on employee and company premiums, company HSA/FSA contributions and the company’s total expense.
–What-If Analysis: Employers and benefit managers can change different variables of plan designs to see how those changes affect the tool’s recommendations and the corresponding financial implications, enabling leadership to zero in on the ideal scenario.
PLANselect for employees:
PLANselect, available in English and Spanish, boasts an industry-leading employee-engagement rate of 60+ percent upon completion. Employees answer several in-depth questions about their anticipated healthcare needs, which takes less than five minutes to complete. Then, the PLANselect algorithms draw from the power of 230+ million data points in our healthcare costs and claimant database to determine the best-fit health plan for each employee’s needs using a patent-pending Plan Value Score system. Employers benefit from employee use of PLANselect to choose the best plan for their needs, which leads to lower overall costs, more adoption of HSA and FSA plans and better perception of benefit offerings.
For more information or to sign up for a guided demo of our decision-support solutions, visit: https://www.flimp.net/benefits-decision-support-tools/
Click here to see an example of the valuable insights employers can garner using the health plan analytics and forecasting tools.
About Flimp Communications
Flimp Communications is a leader in HR, benefits and employee communication and provides virtual communications solutions including software, decision-support tools, workforce texting and interactive digital content to employers, HR consultants, insurance carriers, and healthcare providers. With offices in Boston, MA, Denver, CO, Vero Beach, FL, and Burlington, VT, Flimp works with more than 750 corporate clients, including many Fortune 500 companies. The award-winning employee-communications platform enables users to create, distribute and track interactive video and branded multimedia content without any programming or IT resources for corporate, internal and employee communications. For more information, please visit www.flimp.net.
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