Learn advanced benefits design process concepts in this course, including how to evaluate, select, design, cost and fund health and welfare programs. This course will build on and put into practice fundamental benefits design knowledge to help you advance your skills and expertise as a HR benefits professional.
Key topics covered include:
- Evaluating how the organizational, HR and total rewards strategies work together guide benefits decisions.
- Conducting a benefits gap analysis.
- Analyzing benefits selection and design.
- Examining costing considerations and estimating costs of existing and proposed benefits plans.
- Considering the different types of plan funding mechanisms.
- Reviewing the Affordable Care Act (ACA).
- Creating and presenting the business case to senior management.
This course features U.S. specific content.
It is designed for the U.S. HR professional with mid-level benefits experience or for the professional who is seeking to learn more about the benefits design process and has foundational knowledge in this area. Specific areas covered include:
- Strategic Assessment
Learn about the strategic benefits design process, strategies within the organization, benefits assessment and planning and benefits strategy goals. Explore internal and external factors that influence benefits design strategy.
- Conducting a Gap Analysis
Become skilled in conducting a benefits gap analysis, which includes determining the current state of benefits offerings versus the desired state. Learn about tools to assist in the analysis and key activities for updating the benefits strategy.
- Selecting and Designing Benefits Plans
Learn about bridging the gap upon completing the gap analysis. Discuss the scope and depth of benefits choices, plan design considerations and merger and acquisition considerations.
- Costing and Pricing
Understand financial parameters, the pricing process, philosophies toward benefits subsidies and how to evaluate the durability of a proposed pricing system.
- Funding the Plan
Learn about funding methods, strategies to deal with risk and the continuum of risk, insured approaches and self-insurance.
- Management Approval and Implementation
Practice and apply creating and presenting the business case for the benefits plan to senior management. Learn about implementing the new plan along with exploring administration considerations.
Upon completing the course, you will be empowered with new advanced strategic thinking and skills in health and welfare plan benefits design.
Ready to refine your expertise around employee health and welfare benefits design?
This course is available in a variety of formats, including online and in-person.
Find a class format that works for you and register today.