Methods and systems for comparing employee insurance plans among peer groups
AssigneeHighroads, Inc.
InventorsRobert Rosen, Alexandra Candelas, Richard Wood, Lori Dustin
Life of this patent
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Abstract
The present invention is directed towards methods and systems for a benchmark based comparison of an employee insurance plan of an organization to employee insurance plans from other organizations in a peer group. The present invention enables a user to enter details about an employee insurance plan of a first organization and allows the user to compare the insurance plan to a benchmark computed from data collected from a plurality of organizations in a peer group of the first organization. The comparison report does not identify the organizations from which data is collected.
Claims22
A method of comparison of insurance plans of employees among a peer group, the method comprising the steps of:
- (a) receiving, by a web interface from a user, data on a plurality of attributes of an insurance plan of an employee associated with an organization;
- (b) receiving, by the web interface from the user, one or more attributes as comparison criteria;
- (c) performing, by a computing device in communication with the web interface, a comparison criteria based comparison of user provided data to a benchmark associated with a plurality of insurance plans of employees of a peer group of the organization;
- (d) generating at least one report based on the comparison;
- (e) providing, by the web interface to the user, the at least one report.
A method of using a benchmark for comparison of insurance plans among a peer group of an organization, the method comprising the steps of:
- (a) selecting one or more attributes as benchmark criteria for a plurality of insurance plans of the peer group of the organization;
- (b) accessing, by a computing device, data on the attributes for the plurality of insurance plans;
- (c) transforming, by the computing device, the data for each of the plurality of insurance plans to one or more canonical forms using one or more mathematical operations on the data, the canonical forms enabling mathematical comparisons across the plurality of insurance plans;
- (d) creating a benchmark comprising a set of data through operations on one or more canonical forms;
- (c) storing the benchmark;
- and
- (f) outputting, by the computing device, the benchmark for comparing an insurance plan of the organization to the benchmark, the attributes of comparison provided by an user.
A system of presenting a comparison of insurance plans, the system comprising:
- a database which stores information on a plurality of attributes of a plurality of employee insurance plans;
- a server, in communication with the database, which processes information stored in the database based on information from a client and one or more rules, and identifies at least one peer group within organizations associated with the plurality of insurance plans;
- and
- the client, in communication with the server, providing information on an insurance plan associated with an organization, to the server and receiving at least one report, the report generated responsive to and comparing the provided information to a benchmark data calculated by the server with respect to an identified peer group of the organization.
Dependencies are inferred from the claim text.