ADP Launches Health Plan Cost Modeling Tool

August 15, 2005 ( - ADP Benefit Services has unveiled a new Web-based medical plan cost modeling tool to better enable employees to compare the cost of their coverage options.

An ADP news release said the cost modeling tool is being launched in time for the upcoming open enrollment season.

Employees with access to ADP’s employee self-service Web site can view a side-by-side cost comparison of the health plans offered by their employer that is customized for the employee and his or her dependents.

A projection of out-of-pocket costs by coverage allows the individual see the financial consequence of his or her decision. The cost modeling tool can also help to identify expenses that can be funded pre-tax by a flexible spending account (FSA) or health savings account (HSA).

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