HORANALYTICS® COMPREHENSIVE REPORTING
HORANalytics®: CONTRIBUTION STRATEGY
Key Elements: Compare employer current costs to renewal costs showing different contribution strategies. Including:
• Maintain employee contribution
• Maintain employer contribution
• Maintain current contribution percentage (80/20 split)
• Defined contribution
• Plan buy-up
Application: Design the contributions that are in line with a client’s strategy and budget
• Give clients an idea of costs associated with different contribution strategies.
©HORAN 2020 1
HORAN
Plan #1 Current 1/1 Renewal Tier Enrollment Current Total Rate EE Rate ($) EE Rate (%) Renewal Total Rate EE Rate ($) EE Rate (%) EE Rate $ ∆ EE Rate % ∆ Single 116 $793.49 $119.02 15% $881.66 $132.25 15% $13.23 11.1% Employee + Spouse 34 $1,288.00 $193.20 15% $1,431.13 $214.67 15% $21.47 11.1% Employee + Child(ren) 17 $1,079.78 $161.97 15% $1,199.78 $179.97 15% $18.00 11.1% Family 38 $1,437.62 $215.64 15% $1,597.39 $239.61 15% $23.96 11.1% Plan #1 Cost Summary Current Renewal $ Change % Change Employee Cost $375,881 $417,650 $41,770 11.1% Employer Cost $2,129,991 $2,366,685 $236,694 11.1% Plan #2 Current 1/1 Renewal Tier Enrollment Current Total Rate EE Rate ($) EE Rate (%) Renewal Total Rate EE Rate ($) EE Rate (%) EE Rate $ ∆ EE Rate % ∆ Single 135 $701.37 $70.14 10% $779.31 $77.93 10% $7.79 11.1% Employee + Spouse 86 $1,138.47 $113.85 10% $1,264.99 $126.50 10% $12.65 11.1% Employee + Child(ren) 65 $954.43 $95.44 10% $1,060.49 $106.05 10% $10.61 11.1% Family 92 $1,270.73 $127.07 10% $1,411.94 $141.19 10% $14.12 11.1% Plan #2 Cost Summary Current Renewal $ Change % Change Employee Cost $445,846 $495,392 $49,545 11.1% Employer Cost $4,012,616 $4,458,524 $445,908 11.1% Total Cost Summary Total Premium Share - Before HSA/HRA Current Renewal $ Change % Change Current Renewal Employee Cost $821,727 $913,042 $91,315 11.1% Employee Share 11.8% 11.8% Employer Cost $6,142,607 $6,825,209 $682,602 11.1% Employer Share 88.2% 88.2% Employer HSA Cost $56,100 $56,100 $0 0.0% Total Premium Share - After HSA/HRA Employer HRA Cost $124,200 $124,200 $0 0.0% Current Renewal Total Employer Cost $6,322,907 $7,005,509 $682,602 10.8% Employee Share 11.5% 11.5% Employer Share 88.5% 88.5%