As humans, we feel a strong desire to be part of the pack. We compare ourselves to others in order to determine our own worth. We rationalize irrational ideas and notions.
By Rachel Miner|August 21, 2018 at 07:21 AM
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In my role as a benefits consultant, I find that nearly three quarters of my prospects will ask me how their plan compares to other employers of the same industry. Yes, benchmarking surveys measure basic elements of a plan design, like co-pays, co-insurance, and deductibles. But sometimes, I feel like sharing a benchmark survey would be misleading. Why? Because there are a lot of employers with (excuse my French) sh*tty plans right now. If I’m telling an employer, “Yes, you’re keeping up with the trend,” they’ll think that’s a good thing. And frankly, it’s not. It means they’ve increased deductibles, cost shared more expenses with their employees, and increased premium contributions for the employees’ families, just like other companies have.
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