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Member, Beacon International Group, Ltd.
Hewitt Associates Inc. based in Lincolnshire, Ill., is working with researchers at the University of Michigan and Harvard University to develop a model that will help employers implement evidence-based benefit plan design.
The objective is "to take their academic and research orientation and marry that with our financial and actuarial acumen to come up with some plan design models that might be able to help organizations figure out cost impact" if they implement value-based plan design, said Jennifer Boehm, a principal at Hewitt in Atlanta.
She estimates that the group is about 90 days away from introducing a preliminary model.
"Over time, clients are going to push us to get more and more sophisticated and as these designs evolve to take into account medical services for conditions, it's only going to get more complicated and more sophisticated. But we're certainly going to give it a try with some of the basic designs that are out there today," Ms. Boehm said.