REPEAT SESSION: Reduce Your Health Insurance Cost by Knowing The Numbers
There is no presenter currently listed for this concurrent sessions
Round one of healthcare reform mandates have been implemented; what influence will they have on your medical premiums? Now, it is more important than ever for HR Professionals to understand how insurance rates are built and how to challenge all of the numbers used to create your premiums. Expand the breadth and depth of your knowledge about health insurance rates through an understanding of the Data, Terms (Leverage & Effective Trend, Midpoint Months, Target Ratio, Credibility/Weighted rates, Pooling Charges and Pooled Claims), and Formulas. Mathematical formulas are explicit but the data used in the formula to calculate the premium can be disputed. Knowledge is Power. Learn how to challenge the numbers, negotiate and win!
Calculate Trend using the mid-point method.
Calculate a medical renewal using the underwriting formula.
Logically challenge the data being used to generate the renewal