Industry Specialties – Health Care
Our exclusive focus on health care organizations gives us a unique understanding of the unprecedented challenges organizations and their leadership face. We assist organizations in ensuring that they can recruit and retain top leaders to help them succeed in the new paradigm. Supplemental benefit and retention programs for leadership are an essential component of that strategy. However, the landscape for these plans is changing. Compliance with the changes in IRS regulations, changing economics, and scrutiny of compensation requires new approaches in compensation and benefit programs.
As part of our consulting service, we provide benchmark analysis looking at the quantitative and qualitative competitiveness of benefits in local, regional, and national organizations. In addition, we evaluate current programs for effectiveness, alignment with strategy, and compliance. Understanding peer practices, emerging trends within the highly regulated landscape will enhance your organizations ability to recruit and retain top executives and physicians.
Supplemental Benefit Solutions
Turnover of executives and physicians is at an all-time high. The demand for experienced executives and physicians has caused organizations to evaluate the effectiveness of their current compensation and benefit programs. Given the limitations of qualified benefits for the highly compensated, supplemental benefit programs provide an opportunity to create unique offerings tailored to the highly compensated.
- SERP design and funding
- Individual long term disability programs
- Retention and succession planning
- Customized supplemental life insurance programs
Physician Total Rewards
Aon’s Executive Benefits practice specializes in working with our clients to develop alternatives for physician compensation arrangements which do not involve cash. Nonqualified benefits can be provided on a differential basis helping to augment cash and align the physician’s goals and outcome to the Healthcare System. Successful Healthcare Systems utilize a physician employment model that balances cash and a strong total rewards strategy.
- Analyze current benefit and employment model
- Calculate benefit shortfall
- Illustrate alternate benefit structures
- Implement plan that targets higher level benefits for the best performing physicians supporting the culture and narrative of the system
Benefit Plan Enrollment Services
Organizations invest considerable time, energy, and expense in designing and delivering benefit programs to their employees at all levels. Often times there are gaps between employees' perceived value of the programs and the value actually provided. We work with our clients to develop and execute a comprehensive communication and enrollment process.
Benefit Plan Administration Services
Nonqualified supplemental plans for professional health care employees have unique support needs. We partner with your health care organization to provide the appropriate level of support. We base our administrative platform on high touch, personal service to the organization and plan participants.
For more information about Aon's health care executive benefits solutions, please contact us.