Reference-based pricing: The PPO alternative

Posted by Woody Waters on Fri, May 18, 2018 @ 09:05

Do you know the true cost of your healthcare

With the cost to provide a health plan for employees continuing to rise year after year, many business owners are at a loss for how to continue to pay for coverage while still remaining profitable. Many are looking for a new way to offer benefits to their employees, and there are options available that brokers can present to clients looking to go beyond the healthcare status quo.

Do you know the true cost of your healthcare?

PPOs are overwhelmingly the most popular form of healthcare for employer-sponsored plans. Most PPOs claim that by utilizing their network, members are given a discount off of the regular cost of services. But PPOs typically keep the true cost of the medical services a secret, so most of the time, businesses don’t have a clear understanding of the cost savings. With the lack of transparency of what the true cost of service is, and premiums continuing to increase year after year, more and more employers are questioning if PPOs are actually the most cost-effective type of healthcare for their business.

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Tags: brokers, reference based pricing

Top ten things to ask your broker

Posted by Emily Kubis on Fri, Apr 28, 2017 @ 10:04

We've updated one of our most popular e-books

We get it—there are a lot of brokers out there. It can be challenging to differentiate between your options in building and executing a great benefits package. And when performance is hard to measure, decisions are often made based on relationships. But is that the best way to maximize value?

With healthcare costs as high as they are, employers are taking a harder look at the metrics they use to find and compare advisors.

This e-book is for business owners, CFOs and HR professionals looking for meaningful metrics to use and questions to ask when evaluating brokers.

Here’s an excerpt of the ten questions. For answers to look for or avoid, download the guide!

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Tags: health insurance brokers, brokers, employers, solutions for employers, health insurance small employers, employer, broker, employer digest

What it takes to be a young leader in benefits

Posted by Craft Hayes on Mon, Feb 20, 2017 @ 09:02

Craft Hayes leads Bernard Health’s Nashville team of benefits advisors and was recently named a 2017 Rising Star in Benefits by Employee Benefits Advisors.

I’m honored and excited to a part of the 2017 Employee Benefit Advisors Rising Stars in Advising. In my almost 10 years I have seen a tremendous amount of change in our industry from both legislation and rising costs. Arguably the most tumultuous time to enter the industry, we’ve learned about the pre-ACA way of doing things, the ACA format and rules, and are now preparing for the round of changes with Republican leadership.

The benefits industry and brokerage business used to be able to provide value in pricing to clients through quotes from multiple insurance companies. Since I started in the industry in 2008, I have seen a tremendous shift in our roles. A reduced number of carriers to quote—and those quotes being the same across all brokers—has greatly commoditized the market.

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Tags: health insurance, benefits, brokers, employers, solutions for employers, employer, employer plans, broker

Questions to ask when choosing a broker

Posted by Emily Kubis on Mon, Feb 22, 2016 @ 12:02

Five things to consider

Your broker is a crucial partner in both choosing health plans for your employees and in managing those costs. Choosing one is an important decision, but they can be tough to compare. Brokerages seem more or less the same, and it feels nearly impossible to measure one broker’s performance versus another.

If you’re looking for a broker for the first time, or considering new options, what metrics should even you use? Here are five questions for business owners, chief financial officers and HR reps to consider when choosing a broker.

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Tags: healthcare, health insurance brokers, brokers, heath insurance

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employer healthcare freedom
employer healthcare freedom