Users input benefit plan parameters like deductibles, coinsurance, and copays. CORAL then processes these inputs using a model based on Milliman’s Health Cost Guidelines to produce relative cost outputs among plans (e.g., Plan B is expected to cost an insurer 3.2% less than Plan A, all else equal, given their differences in benefits).

Cost sharing refers to the costs of healthcare services that are shared from the insurance provider to the insured. Typical forms of cost sharing include deductibles, coinsurance, and copayments.

Actuarial value is a measure used in health insurance to describe the percentage of total average costs for covered benefits that a plan will cover. For instance, if a plan has an actuarial value of 70%, on average, the plan is expected to cover 70% of the total costs, with the remaining 30% to be paid by the insured.

Insurers, large employers with self-funded insurance plans, third-party administrators, insurance brokers, and employee benefits analysts will all find value in CORAL, as many audiences can benefit from a comprehensive evaluation of the relative richness of plan design offerings.