Negotiating Medical Insurance Renewals

The annual medical renewal is a direct budget decision. This program gives participants the cost drivers, data skills, and negotiation approach needed to manage renewals with carriers rather than accept the first quote.

The focus is on understanding what drives the premium, reading the data behind a renewal, and negotiating terms that control cost without reducing the value of cover.

By the end of this course, participants will be able to:

– Identify the main drivers of medical premium cost
– Interpret claims, utilization, and loss ratio data
– Benchmark a scheme against the market
– Prepare a fact-based renewal position
– Apply negotiation techniques with carriers and brokers
– Compare renewal terms and alternatives
– Protect coverage value while controlling cost

1- How Premiums Are Set
2- Cost Drivers and Loss Ratios
3- The Renewal Cycle and Timeline
4- Market Benchmarking
5- Reading the Renewal Data
6- Claims and Utilization Analysis
7- Building a Negotiation Position
8- Plan Design and Cost Containment
9- Market Testing and Alternative Quotes
10- Negotiation Techniques with Carriers
11- Managing Brokers and Intermediaries
12- Protecting Coverage Value

HR and benefits professionals responsible for managing the annual medical insurance renewal.

The program is built around a renewal data set and a negotiation simulation. Participants analyze cost drivers and practice negotiating terms with a carrier role across the week.

Participants leave able to approach a renewal from a position of data and strategy, controlling cost while protecting the value of employee cover.