App Lets Health Care Employers Benchmark Plans
The Market Insights: Healthcare App is designed specifically for retirement plan sponsors and advisers of health care organizations. It gives users the ability to compare their retirement plans to others in the health care industry based on a number of key metrics. The app can also be used by plan sponsors to help gauge their own plan’s effectiveness.
The app provides:
- Data allowing users to quickly compare their plan to other health care retirement plans;
- Guidance on industry best practices, giving users insight into how small changes to plan design can improve retirement outcomes for participants;
- Customizable reporting including plan sponsor and adviser contact information, which can be shared via e-mail; and
- Access to a library of white papers about plan design, health care market trends and other relevant information.
Transamerica developed the app based on data averages from a joint survey conducted with the American Hospital Association. The app was designed using data from a survey of 180 health care sector plan sponsors about features of their retirement plans.
“We developed the health care app in response to feedback from plan sponsors in the industry, and we’re pleased to offer this unique app to the marketplace. It is a valuable resource for anyone who’s interested in trends in health care plan design,” says Brodie Wood, vice president and national practice leader of not-for-profit markets, in Harrison, New York.
The free app is compatible with the iPad, iPhone and Android products. It is available through the iTunes App Store or Google Play.