Financial Measurement
Each team member at Johnson Benefit Group is committed to promoting and increasing employee awareness and understanding of important benefits. We realize that our customers invest a significant amount of capital in employee health and other benefits, and we are dedicated to helping plan sponsors realize a return on that investment.
Outcome measurements from financial analysis of a benefit program will provide evidence against baseline trends, costs, outcomes, and other indicators to compare improvements. Our project outcomes will have a targeted effect that can be measured and adjusted as needed.
Financial Planning and Management
- Review claims experience and financial reports
- Provide quarterly and annual updates of financial performance for each plan and anticipated changes in employer costs
- Support annual budgets and forecasting process by projecting annual costs for self-insured plans
- Provide recommendations on contribution strategies for associates and retirees in conjunction with annual budget and forecasting analysis
- Project cost and savings impact of potential plan design changes, using a range of realistic assumptions
- Develop overall pricing, including rates for associates and retirees, and price tags and credits for annual benefit enrollment
- Negotiate with carriers and service vendors on fees, risk-sharing arrangements, performance guarantees, pricing, and other key contractual terms
- Track budget-to-expense forecasts and review findings and recommendations with employers on a quarterly basis
- Identify potential high-cost claims through the use of data-driven, fact-based research, and develop targeted intervention programs
