Dominion Benefits’ Analytic Advantage

Dominion Benefits uses BENEFIT SELECT® to highlight for our clients their cost-drivers and identify available strategies in controlling those costs. Most benefit plans (e.g. health or disability) have up to fifty variables which significantly impact cost and/or coverage. Our tools quantify the value differences among the plan features, enabling the Finance and Human Resources leaders to make solid business decisions based on clear, actionable information and providing fact-based communications material for employees.

BENEFIT SELECT® (patents pending) is a suite of analytical tools used to identify the optimal carrier, benefit design, employee contribution and health plan funding arrangement for each customer. BENEFIT SELECT® is an information tool that eclipses the utility of the typical broker “spreadsheet,” resulting in “actionable” information, improved decision-making, less internal analysis and better plan results – often reducing benefit plan costs and increasing value to the employer and employees. The primary models of BENEFIT SELECT® are:

VALUE SELECTSM calculates a “value” score and expected out-of-pocket cost for each plan alternative, eliminating confusing analysis and comparison. Simply said, VALUE SELECTSM allows you to select the plan that provides the most benefit value for your money. VALUE SELECTSM is currently available for analysis of medical and disability plans.

BENEFIT PLANNERSM is a multi-year benefit-design planning model that identifies benefit design changes appropriate for the inflationary environment. The model enables the employer to maintain proportionality between the employees’ and employer’s share of plan cost.

CONTRIBUTION PLANNERSM facilitates multi-year evaluation of employer/employee contribution to premium, a critical factor in budget planning and staff recruitment and retention.

COST TRACKERSM is a method of health data tracking and trending – we create management information from carrier data. We track trends and claim experience to identify cost drivers and to provide warning of unfavorable trends. Larger employers review a COST TRACKERSM report periodically throughout the plan year.

FUNDING SELECTSM identifies the right funding method for an employer based on the organizations’s risk tolerance by assessing risks, rewards and probabilities associated with self-funding vs. insuring. It also quantifies the probability of claim cost outcomes to target the appropriate types and amounts of reinsurance coverage. FUNDING SELECTSM enables an employer to make a sound business decision on the feasibility of self-funding as well as the optimal reinsurance levels.

BENEVIEW provides a data repository for all benefits related information and allows an organization to make benefit program data inquiries simply and efficiently. This benefit modeling program enables the user to quickly assess which segments of the employee population are using specific portions of the benefits to help refine the options offered or pinpoint problem ares.

Dominion Benefits provides thorough, unbiased decision support. While our analytic tools facilitate the delivery of information, our commitment goes well beyond modeling techniques. For each client, we invest the time and effort needed to do a thorough analysis, even if the need requires extra effort and analysis beyond standard modeling.




								Dominion Benefits’ Analytic Advantage Dominion Benefits uses BENEFIT SELECT® to highlight for our clients their cost-drivers and identify available strategies in controlling those costs. Most benefit plans (e.g. health or disability) have up to fifty variables which significantly impact cost and/or coverage. Our tools quantify the value differences among the plan features, enabling the Finance and Human Resources leaders to make solid business decisions based on clear, actionable information and providing fact-based communications material for employees. BENEFIT SELECT® (patents pending) is a suite of analytical tools used to identify the optimal carrier, benefit design, employee contribution and health plan funding arrangement for each customer. BENEFIT SELECT® is an information tool that eclipses the utility of the typical broker “spreadsheet,” resulting in “actionable” information, improved decision-making, less internal analysis and better plan results – often reducing benefit plan costs and increasing value to the employer and employees. The primary models of BENEFIT SELECT® are: VALUE SELECTSM calculates a “value” score and expected out-of-pocket cost for each plan alternative, eliminating confusing analysis and comparison. Simply said, VALUE SELECTSM allows you to select the plan that provides the most benefit value for your money. VALUE SELECTSM is currently available for analysis of medical and disability plans. BENEFIT PLANNERSM is a multi-year benefit-design planning model that identifies benefit design changes appropriate for the inflationary environment. The model enables the employer to maintain proportionality between the employees’ and employer’s share of plan cost. CONTRIBUTION PLANNERSM facilitates multi-year evaluation of employer/employee contribution to premium, a critical factor in budget planning and staff recruitment and retention. COST TRACKERSM is a method of health data tracking and trending – we create management information from carrier data. We track trends and claim experience to identify cost drivers and to provide warning of unfavorable trends. Larger employers review a COST TRACKERSM report periodically throughout the plan year. FUNDING SELECTSM identifies the right funding method for an employer based on the organizations’s risk tolerance by assessing risks, rewards and probabilities associated with self-funding vs. insuring. It also quantifies the probability of claim cost outcomes to target the appropriate types and amounts of reinsurance coverage. FUNDING SELECTSM enables an employer to make a sound business decision on the feasibility of self-funding as well as the optimal reinsurance levels. BENEVIEW provides a data repository for all benefits related information and allows an organization to make benefit program data inquiries simply and efficiently. This benefit modeling program enables the user to quickly assess which segments of the employee population are using specific portions of the benefits to help refine the options offered or pinpoint problem ares. Dominion Benefits provides thorough, unbiased decision support. While our analytic tools facilitate the delivery of information, our commitment goes well beyond modeling techniques. For each client, we invest the time and effort needed to do a thorough analysis, even if the need requires extra effort and analysis beyond standard modeling.



		PRIVACY TERMS OF SERVICE LEGAL

		WEB SITE COMMENTS OR CONCERNS: toshea@dominionbenefits.com

		©2006 DOMINION BENEFITS LLC ALL RIGHTS RESERVED