I have a few questions for you today. For starters: Do you think your company is paying too much in insurance premiums every month?
How would your management team respond? How about your individual employees?
When I ask this question of employers I typically get one of two responses. Either they say "YES! way too much" or they laugh uncomfortably saying "that's a dumb question." Why do they think it dumb? Because the overarching sense in today's market seems to be that prices are too high and that it's a big problem we feel we can't do anything about it.
So you likely had an answer to my first question. How about this one: How do you KNOW you are paying too much?
That question usually gets crickets.
My guess is your company feels the rising costs of healthcare in the corporate bottom line and your employees are feeling it in their paychecks. We hear about the problem of healthcare costs in the news a lot. What we don't hear about is a solution. It feels fatalistic -- premiums go up every year and we pay it.
It does not have to be that way. I feel that the days of not knowing where your money is going, and of blindly accepting a less bad renewal should end. With health insurance as a top 3 overhead expense for many companies we should demand better.
If you feel the way I do we have a solution for you: conduct a Healthcare Consumption Audit!
We can help you dig into the details to discover what's really going on and where the dollars are being spent. The only cost for the audit is a little time. It is fully HIPAA compliant, with employees answering some questions that are sealed and kept private and remain unknown to the employer.
And the best part is we will come back to you with good news! Either you are getting a good value for your dollar (meaning every dollar you spend in premium, the carrier spends $1.50 in claims for example); or you aren't getting a good deal and you're over paying compared to usage and claims (meaning every dollar you spend in premium, the carrier spends $0.50 in claims for example).
How is that good news you ask? Well once you know where you stand you can explore other options. We have solutions that align closer to your actual spending (usage and claims). In most cases where companies are spending too much we have been able to help them save substantially by lowering those premiums and in some cases even getting a refund of unused premium at the end of the year. Welcome to the new world of healthcare!
So my final question is: When can we schedule your Healthcare Consumption Audit?