Using historical claims data, Baybenefits provides comprehensive analytical modeling and analysis to regularly monitor plan performance, utilization trends, and core cost drivers. We communicate this information to our clients on a regular basis and use this analysis to develop effective benefit strategies.

Claims analysis & reporting

Our claims analysis and reporting procedures allow us to monitor plan performance and identify core cost drivers through a series of customizable monthly, quarterly and annual reports. This data is also used for predictive modeling purposes.

Financial planning & budgeting

Baybenefits works closely with clients to derive detailed financial projections in order to set your budget with confidence. The process includes monthly reporting and quarterly renewals so there are no surprises at the end of the year.

Benchmarking analysis

The Baybenefits benchmarking database generates a detailed comparison of benefit plans by industry, region and size. The customizable data includes prevalence of benefit practices, cost sharing, plan designs, eligibility and costs.

Fully-insured versus self-funding analysis

Our funding analysis model gives clients an understanding of the financial risk of the various options that are available.

Employer Contribution Modeling and Analysis

Baybenefits helps clients develop contribution strategies by plan design and coverage tier. Our contribution modeling allows for immediate and accurate projections of costs and for the development of cost effective payroll deductions.

Market leverage

Baybenefits negotiates, coordinates and provides comprehensive product and service due diligence pertaining to our clients' various carrier and vendor relationships. Our affiliation with NFP enables us to identify an appropriate carrier or vendor and gives us the market leverage to secure a competitive contract.

Ease of renewal planning

Baybenefits works closely with clients throughout the year to develop and implement an effective renewal strategy and ease your administrative burdens.

Benefit plan analysis

Through a benefit plan analysis which is based on critical analysis, Baybenefits streamlines the decision making process for our clients related to carrier, product and vendor selection.

Network analysis

Baybenefits assists clients by quantifying an organization's historical network discounts and projecting the future cost savings of making a change to a network with more aggressive medical provider discounts.

Studies show that for most employers, 80% of health care costs arise from only 20% of their workforce.

Effective Wellness Programs can control costs

For companies of all sizes, Baybenefits recognizes a need for employee health and productivity programs that is more urgent than ever.

Double-digit increases in health care costs have hit employers every year for the past five years. Chronic diseases contribute to rising health care costs, failing productivity and increased absenteeism. Yet, many of the health risks associated with chronic disease from obesity to smoking to lack of exercise are to some degree preventable.

With the importance of controlling health risks becoming more evident, effective Wellness Programs are growing more crucial for employers to adopt.

ROI of $3 for every $1 spent

Although return on investment varies from organization to organization, wellness initiatives have demonstrated consistently favorable returns, including significant reductions in health care costs, decreased absenteeism, increased productivity and reduced workman's compensation and disability claims costs, and a median ROI of 3-to-1 meaning employer’s save approximately $3 for every $1 spent on Wellness Programs.

Design Wellness Program to complement overall benefits

Wellness must be more than just screenings and health risk assessments. Designing a Wellness Program that complements your company’s total benefits program, fits your company's culture, and provides incentives is crucial for your employees and your profitability.

Baybenefits understands that to show savings from a well-run Wellness Program, it is essential to provide comprehensive and effective interventions, on-site programs, wellness coaching, and continuous communication to your employees.

Helping you control the bottom line

Baybenefits is committed to establishing long-term partnerships with our clients. Our philosophy is making sure we provide information and services that will improve your overall business strategy. We understand how simple practices and policies can improve productivity, enhance morale and impact the bottom line.