SYSTEM AND METHOD FOR OPTIMIZING BENEFIT PLAN DESIGNS

摘要

A computer-based system and method to enable a benefit plan sponsor to desi gn benefit plans for a given participant population by enabling the plan design er to select the plan design options that maximize the perceived benefit to the participant population subject to a cost constraint. The system prioritizes plan design options of such pla ns according to the costs of these options and the perceived benefits of these options for the participant population. Estimates of perceived benefit are based upon survey data from a sample of the given population or from historical survey data from population samples exhibiting analogous demographic characteristics to the given participant population regarding potential plan design options or analogous benefit plan design options.