Healthcare Savings Strategies I, II, and III
Healthcare is only getting more expensive
Traditionally insured healthcare costs are increasing yearly at exorbitant rates. With the original cost of each claim so difficult to ascertain, it becomes impossible to gauge the appropriate cost to employees and employers.
- 1 in 5 companies sees an annual rise in healthcare costs greater than 10%
Your employees are worried about their medical bills
- 67% worry they won’t be able to afford a surprise medical expense
- 53% worry they won’t be able to pay their deductible
- 45% fear the costs of their prescriptions
Through a self-funded healthcare plan you have the opportunity to lower premiums and eliminate unnecessary fees, lessening the financial burden on your employees and your own bottom line.
Self-funded healthcare puts you in control
Insurance companies offer the same pre-designed packages to every business with little room for customization. This method is never going to be optimizable. Through self-funded healthcare, you can work with an expert team of consultants who can help you craft the perfect plan for you and your employees. Pay the fair costs for what your employees need, without the hidden fees and extra charges.
Your three healthcare savings strategies
Choose the strategy that fits most smoothly into your company culture.
For small but not insignificant savings, Strategy One includes the same PPO as before, a complete match of your existing plan and an optional R.N. Medical Advocate.
Moving up to Strategy Two means the Medical Advocate is no longer optional, guaranteeing a higher savings rate. All other aspects are fundamentally the same.
Strategy Three is unique from the other two, and it also offers the most reward. You ditch your PPO plan designs in favor of a no-network plan. The Medical Advocate is still mandatory, and there is also an additional voluntary Prescription Advocate.
Case studies: Just how much are people saving?
Variations of self-funded healthcare strategies have been able to save employers, across all industries, hundreds of thousands of dollars annually.
Employee engagement and retention
Healthcare is complicated, and when employees feel overwhelmed or confused, they are less likely to engage. Partnering with Netwellth means you don’t have to be an expert in healthcare, and your employees get access to the tools and resources they need to make informed decisions about their health and finances.
Streamlining healthcare costs improves your bottom line
A dollar saved is two or more dollars earned, depending on your profit margin. Taking control of your healthcare expenses not only means good news for your employees, it drives savings to your bottom line.
- When a company has a 33.33% profit margin, reducing healthcare costs by 20% is just as profitable as growing revenues by 60%.
Stop losing thousands of dollars a year to administrative fees and commission-based sales tactics. Switching to a self-funded healthcare plan with the help of a knowledgeable consultant team is the innovative move that places you one step ahead of the ever-rising cost of healthcare.