We are in the middle of a benefits revolution. What has caused the revolution and how are we moving the revolution to the next step?
1) The continued increased health care costs mostly for fully insured health plans and the lack of control felt by employers and what they can do about it. This results in the challenges of meeting the budget expectations of Senior Management combined with the continuous shift of out of pocket costs to employees.
2) Improving the benefit experience of human resources and employees - We need to take advantage of technology to make the lives of human resources individuals easier. We need to make administering benefits easier, reduce the time it takes to administer benefits and make staying up to date with compliance issues easier. From the employee perspective a combination in the use of technology and a health plan with purpose focused on the employer’s employees not someone else’s. By combining technology with human to human interaction, employees have a benefit expert on their side there to help them understand their benefits as well as the tools and resources available online.
We are focused on helping our clients build an employee benefit program for the 21st century.
1) Take control of your health plan and costs- More and more employers are looking at financing their employee health plan through partially self insured health plans. We have been working with self insured health plans for over 30 years. At the end of the day, it costs a company less when they are self insured. Employers save money through the use of specialty networks, focused medical management and programs providing convenient access to lower cost health care services.
When we build a self insured health plan we include programs that are focused on the health needs of the employees, making their life better and easier. It’s a win – win; good for the employees and good for the bottom line cost of the plan. Programs include: diabetes education, one on one with a nutritionist, having a doctor visit at home or work, having a doctor visit on line, at home tests, etc.
2) Technology combined with a personal connection – We are focused on using technology that makes the lives of human resources and employees easier. Our experienced benefit team listens and helps employees understand their benefits in addition to helping them utilize the technology. Our benefit concierge services are available by phone, by e-mail and by text. The technology for human resources and company employees includes online resources and tools as well mobile tools for benefit enrollment, reminders and important information. Employees can use their smart phone for most everything regarding their benefits including having access to a benefit concierge.
A company in Orange County with less than 100 employees just received their fully insured medical increase of +16%. They were advised there no large claims and their increase was a combination of the health insurer fee under PPACA (+4%) and the insurance companies base increase (+12%). They are fed up. They met with us to talk about moving to a self insured plan that gives them control over their health plan costs combined with technology to help human resources and their employees. We are meeting with many, many employers experiencing the same pressures. We bring a comprehensive, custom strategy to the table and have been very successful due to our proactive approach