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Benefit plan evaluation

CORAL

The Challenge

Deciphering the true value of health plans

For insurers, brokers, and consumers, comparing health plans is no small task. With different deductibles, copays, and cost-sharing details, it’s hard to pinpoint which plan truly offers the best value. The maze of insurance calculations often leaves users puzzled about their best options.

The Solution

Clear comparisons made simple

CORAL makes navigating the intricacies of cost sharing and actuarial value straightforward. This powerful tool simplifies comparisons between benefit plans, taking the guesswork out of assessing relative cost. CORAL translates complex data into actionable insights, empowering insurers, brokers, and consumers to confidently make informed decisions and supporting more accurate underwriting.

Benefits

Features

Case study

See how Milliman CORAL is helping businesses

Case study

The Milliman CORAL of the story: A case study in benefit richness estimation in the individual ACA market

For estimating benefit richness in the individual ACA market, we demonstrate advantages of using Milliman’s model over the Federal Actuarial Value Calculator.

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Understand plan value, including premium impact

In this example, Plan 2 charges the same premium as Plan 1, but its benefits are richer, leading to a higher overall value added. Plan 3 has the richest benefits, but also charges a higher premium, leading to an overall lower value added than both Plan 1 and Plan 2.

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Understand plan value, including premium impact

In this example, Plan 2 charges the same premium as Plan 1, but its benefits are richer, leading to a higher overall value added. Plan 3 has the richest benefits, but also charges a higher premium, leading to an overall lower value added than both Plan 1 and Plan 2.

Download sample outputDownload

Better understand the relationship between value added and enrollment

Review market trends over the last five years, drilling down to the desired level of review.

  • Enrollment (including crosswalks)
  • Star rating
  • Member premium
  • Value added
  • Benefit detail

In this example, Plan 4 may not have the highest value added, but it does attract the most membership in this market.

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