SBC Benchmarking
Of the approximately 700 mid-market employers headquartered in the Southwest, we have the privilege to obtain data from nearly 200 through existing relationships. Our local market share allows us the ability to use both our internal data results along with industry benchmark publications to create comprehensive industry statistics. We have developed an internal database that tracks each client's renewal rate, funding vehicle and basic plan design components. We use the results of our current client base to assist SBC clients in identifying local market trends in comparison with national industry benchmarks. For example, the 2006-2007 average fully insured renewal increase for SBC clients was approximately 6.8% compared to the national average of 12-13%.
In addition, we use national studies to help benchmark your plan costs, plan benefits and contributions against similar industries and size. We tailor our comparative analyses to help determine where your health and welfare programs stand relative to general trends and industry norms. We help you identify specific areas that may require modification in order to strengthen your competitive position. SBC has access to a variety of surveys to assure you obtain an unbiased outcome.
Lastly, due to the relationship with the two largest insurance companies, we are able to obtain funding, plan information and renewal information to compare in a comprehensive manner for Southwestern based companies.
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