The 2014 SHRM Employee Benefits Survey* results show that 83% of the companies surveyed are offering vision benefits to their employees. But how do employers know that they are offering the right vision program for their employees?
Pacific Resources has dug into the data to find the true net costs of vision care and what this means for employers and their employees. We can reprice a client’s experience and explain what their vision costs would be by carrier and by procedure, thus creating a truly transparent vision benefits program.
Our consultative approach to vision benefits along with our research into current trends and client-specific data allow us to recommend vision plan design options that promote overall health and wellness. In addition, our strong relationships with carriers ensures that they offer high-quality educational tools for plan participants.
When we look at a client’s vision benefits program, we begin with a 360° network evaluation, which is a true cost comparison of one network compared to another. We evaluate geographic access and disruption reporting, and conduct a thorough quality review. We also conduct regular vendor audits to ensure compliance with best practices and achievement of performance standards.
After this initial review, we apply our underwriting expertise to validate the initial pricing and renewal rates, self-insured “ghost rates,” and tier differentials. We conduct quarterly experience reviews and trend analyses so we can have a full view of the cost implications of all plan design considerations.
Because we provide relevant advice on the marketplace, funding options and trends, we can correlate client objectives with compatible plan and enrollment options to design the best vision solution for our clients and their employees.
Pacific Resources doesn’t sell insurance products; rather, we consult with our clients and act as an independent and trusted benefits advisor.
We have been providing vision administration consulting since 2001. Our experienced team helps clients design and implement innovative vision benefit solutions that align with their long-term organizational goals.
*2014 Employee Benefits: An Overview of Employee Benefits Offerings in the U.S., A Research Report by the Society for Human Resource Management (SHRM)
"With Pacific Resources, you get a team that is always ready to take on a new challenge and a partner who isn't afraid of stepping out of the comfort zone. You get personal service AND results."
Please click here to learn about our complementary services.
Large firms are more likely than small firms to offer or contribute to a separate vision care benefit for employees (62% vs. 27%).