Annual Renewal Review
The annual renewal is not a formality, it's the primary opportunity to manage your benefits costs, improve your program.
Annual Renewal Review
Know what changed in your renewal, and why, before you sign it.
A real renewal review happens in August or September, before the renewal deadline, with enough time to change the plan design if the renewal calls for it.
What You Need to Know About Annual Renewal Review
Year-Over-Year Changes
Each renewal is read against the one before it: what changed in the terms, limits, and conditions, and why.
Claims Experience Review
For employers large enough to have credible claims data, understanding your claims experience, high-cost claimants, utilization patterns, cost drivers, provides the context for evaluating rate increases and exploring plan design changes that might reduce costs.
Multi-Year Strategy
Renewal decisions compound. A switch that lowers the rate in year one can be followed by a larger increase at the next renewal, so a renewal is worth reading across several years rather than one.