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MedForecast: Predict and control your health and disability benefits budget

Mercer understands that one significant challenge faced by employers is controlling escalating health and disability benefits costs in difficult economic environments. As a result, increased financial pressures can force many employers to reduce benefits and increase cost sharing.However, others are looking to enhance cover or to respond to the impact of any legislative changes, and wish to model the cost implications of doing so.

This is where MedForecast can add value to an employer’s health and disability benefits strategy, whether in the short or long term.

What is MedForecast?

Developed by Mercer for clients with specific health and disability benefits planning needs, MedForecast:

• Is a flexible and dynamic modelling tool
• Instantly illustrates employer-customised financial results
• Enables multiyear modelling on multiple related solution scenarios
• Provides background and examples for all types of intervention solutions
• Serves as the financial backdrop to strategic planning discussions
• Displays results from both employer and employee viewpoints

How is MedForecast used?

To maximise the value of MedForecast, we first review your company’s benefit philosophy, considering issues such as benefits, costs and competitiveness. We then summarise the types of intervention solutions that you have recently implemented, considered or scheduled.
 

We collect data on your:

• Enrolment/membership plan type
• Plan costs and benefit basis
• Employee contributions
• Average salary and growth rate

We also consider whether your organisation has a target increase in budget for health and disability benefits costs and the workforce numbers you anticipate in the next few years. This information provides a more holistic context as we work together to formulate your strategy. Additionally, we customise MedForecast using your data so that we can model many different “what-if” scenarios – such as plan design, contributions and cost sharing.

This demonstration and the information contained therein is for illustrative purposes only. No representation or warranty, express or implied, is made or given by Mercer as to the accuracy or completeness of the information or as to the reasonableness of any assumptions on which any of it is based or of any opinions, findings, interpretation or conclusions contained within the information.

Issued in the United Kingdom by Mercer Limited which is authorised and regulated by the Financial Services Authority. Registered in England No. 984275. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU.

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