The Benefits Basic Ranking Report (as well as many elements of the Benefits Comprehensive Reports) displays data as a quartile ranking with data representing the 25th, 50th, and 75th percentiles. What does this mean? If we have 100 plan booklets to compare and we arrange from lowest coverage to highest coverage the lowest would be 1st and the highest would be 100th. The report marks the benefit value of your group from the left hand side against the ranking on the right hand side in one of 7 positions: (Below Bottom, Bottom, Bottom to Middle, Middle, Middle to Upper and Above Upper)
The first position is the bottom 25% (below bottom) of companies with a value less than or equal to the 25th. This value would be marked to the left of the Bottom 25th column (first position), a range also known as the 1st Quartile.
The value marked the bottom 25th is the 25th value in line out of 100.
Between 25th and 50th
This range between bottom and middle is known as the 2nd Quartile. If both values are equal then it means all plans within this range are equal.
The value marked the middle 50th is also known as the Median and marks the 50th place in line out of 100. The median value suggests that 50% of the plans are at or lower than this value and 50% of the plans are at or above this value, it's truly the dividing line in the ranking!
Between 50th and 75th
This range between middle and upper is known as the 3rd Quartile.
The value marked the Upper 75th marks the 75th out of 100 in line.
All plans to the right of this value, the top 25% of plans are equal to or greater than the Upper Value.
In our distribution, we do not show the minimum and maximum values in the range. The reason for this is that in making a benchmarking decision with benefits the lowest possible value would be 0, or to not include that benefit. In contrast, the highest level of benefit would be limited by other factors such as underwriting guidelines and ultimately the budget of the employer offering that coverage.
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