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PLAN DESIGN COMPARISONS ANALYSIS
The Plan Design Comparisons Analysis typically includes the following:
- Financial modeling and forecasting of the plan sponsor's experience with alternative plan designs and/or formularies.
- Assessment of the number of claimants affected with each alternative.
- Modeling of different cost-sharing structures for each alternative plan design to help plan sponsors find the right balance between managing plan costs and maintaining good will with their plan members.
- Sensitivity analysis to factor in changes in plan member behaviour as a result of the plan design change