BBI Aggregate Benchmarking
Aggregate Benchmarking pulls in active account data from multiple firms across the BenefitPoint platform, giving you a picture of common values across industries, account sizes, and account locations. Only data entered by BenefitPoint customers to manage their businesses is used for benchmarking; it is not supplemented with any other data.
Aggregate Data Privacy
Vertafore considers data privacy paramount and we hold our customer's proprietary information in the highest regard. No information in aggregated benchmarking can be attributed to any one firm or office. For data to be included in our benchmarking pool, it must comprise results from at least three distinct brokerage or consulting firms in any one category. This policy will protect your firm's privacy by ensuring a minimum sample size, while providing enough relevant data from an insightful group size, location, or industry analysis.
Qualifications for Aggregate Benchmarking
For BenefitPoint to grant access to the robust data pool of information, you firm must first meet the following criteria for your active client accounts.
- 80% of your active accounts with over 50 FTEs must have the Primary Industry field populated with a value (except "Other"), have a main address, and have at least one current in-force plan.
- 80% of your Express View Benefit Attribute Values must be populated for medical, dental, and vision plans belonging to your active client accounts with over 50 FTEs.
- You must have a defined (and preferably documented) audit process and must have performed an audit of your BenefitPoint data to ensure accuracy.
For more information about Aggregate Benchmarking, including the qualification process, please contact your BenefitPoint Client Manager.
Benchmarking Data Set
Plans
Only plans for active accounts (including Marketing Group accounts) with a defined Primary Industry (including Other) are included. Marketing Group plans are not included but if the Marketing Group has assigned clients, each client plan is included.
Attributes
For a plan attribute to be counted, the attribute must have a value that matches the valid Unit of Measure (UOM) and falls within the benchmark ranges for that attribute as in Benefit Attributes with Valid Unit of Measure and Acceptable Benchmark Ranges.
For example, for "Annual Deductible/Individual" for a Medical HMO plan, a value of $250 would be counted because is has a valid unit of measure (dollars - $) and falls within the benchmark range of $200 - $299. A value of "Not Applicable" would not be counted because it does not have a valid UOM and does not fall within the benchmark ranges for annual Deductible/Individual.
