What They Don't Tell Small Employers
If you’re a small employer with 2–100 employees that offers employer-sponsored health benefits you’ve been misled about your group health plan. You’ve been convinced that you have no option but to use one of the mega-health carriers to provide benefits to your employees. You may even believe that because you only have a few employees there’s no affordable option available to help you to support the cost of their health care. All of these things are false. There is a myriad of options available to you beyond being trapped by the insurance carriers. But you won’t hear about them from the carriers and brokers because they don’t include ways to hide profits by carriers and pay brokers undisclosed commissions. Giant insurance carriers that offer you fully insured plans bank on the strategy to keep you in the dark by not sharing the very data they use to set your rates and increase your renewals. They’ll tell you that they’re restricted by privacy laws from sharing it with you. They’ll also claim that the data is proprietary and belongs to them. The truth is that your data is available if you work with a benefits advisor that knows how to get it. We know how to get it.
All big health insurance companies use the same strategy. They force you to bundle the different components of a health plan so you must use their own Pharmacy Benefit Manger (where they make the most hidden profit), their own Doctor/Hospital Network, their own Medical Management team, their own claims payment system, and they determine your pooling point (a kind of reinsuring your plan for large claims, usually without telling you about it). This is all to your disadvantage both from financial and a business management standpoint. You have no input in how they manage your plan and no ability to impact the financial outcome. All you can do is take their annual increase without them having to justify their reasons. The only advice they can offer you is to switch to a cheaper plan or increase your employee’s premium and deductible. What other segment of your business would you tolerate this kind of service?
Regardless of your employee size we’ll help you overcome the mega-insurance carrier bundling strategy. We’ll show you how to unbundle the components of a health plan without increasing your financial risk with vendors and partners who work for you and not the insurance company. They’ll provide the transparency required that will allow you to know your costs and make decisions that are right for you and your employees. We’ll help coordinate your benefit strategy – built specifically for you – and prove that it is not as complex as the giant carriers want you to believe. They succeed by keeping you in the dark. We’ll show you how working with transparent partners can actually reduce your benefits spend and eliminate the huge out-of-pocket costs that your employees can’t afford and keeps them from getting the care they need today. We’ll help you design a benefits strategy with all of the advantages of a large employer but a cost of in line with a small employer.
And for those with just a few employees who think that there’s no affordable way you can do anything to help with employee retention and attraction you owe it to yourself to explore the options that are available. There is a spectrum of tax-favored strategies that do not require the commitment of a comprehensive group health plan that can still help support health care costs for your employees. You may not hear about them from your broker because they do not include high commissions, or they simply may not know about them.
That’s why you need to call us.
Call us at (815) 742-2066