Employers - Your Health Plan and Employee Benefit Problems Are Worse Than Ever - Costs Up // Coverage & Employee Satisfaction Down!

Most Employers are fed up with the out of control Cost Increases, Reduced Service Eligible, and Legitimate Employee Complaints. These are complex Problems and most Broker/Advisors have No Solutions! The traditional

systems are Broken and Controlled by select profit focused groups.

The Question - Are these Problems that have No Solutions? My Answer - No - These Problems have viable cost-effective Solutions that include Better Benefits! You Can Save 20% to 40% or more and have Satisfied Employees! This is the time of year when many Employers make decisions about Health Plans & Employee Benefits! Generally, they rely on there Broker(s) for Advise, Cost Comparisons & Determinations and Plan/Product Selection. Annually the Broker delivers the bad news about Price Increases. Before accepting what your Broker provides as a "Best Effort" after shopping the markets - Get a 2nd Opinion! Put an end to the annual Insanity! You Can:

• Go Beyond the Broker’s Spreadsheet - Realize Real Health Plan & Employee Benefit Savings
• Stop the Cycle of Health Plan Price Increases
• Implement Sustainable Plans & Services that are Tested and Proven
• Put an End to the Broker’s "Bad News" Renewals

Note - There are Health Plan and Employee Benefit Strategies that your Broker(s) aren't showing you! Generally, the Broker(s) either don't know about or don't understand these viable, cost-saving alternative Solutions for generating Cost-Savings, Features should include:

• Plan Choice
• Transparency
• Better Benefits
• Satisfied Employees

Here's an Example of the Cost Savings generated utilizing several Health Plan Solutions from our 12 Solutions (Listed Below), for a 100 Employee Group: Previous Years Cost - $1,650,000 Solution Plan's Cost - $1,155,000 Savings Generated - $495,000 annually $41,250 monthly Cost to Implement and Maintain Plan - $48,000 (Less than 10% of Saving Generated on a Turnkey Basis

What are these Solutions - Strategies, Plans and Services?

The following will outline 12 Solutions Cost-Effective Solutions! Each component can stand alone or work effectively with the others contributing to a Savings of 20% to 40% or More. Note - In most cases when researching on the PROs & CONS for the Solutions experiences were based on out-of-date information and improper Solution implementation and utilization. The following are the 12 Solutions - All of which can be implemented by professionals on a turnkey basis over a scheduled period of time: 

1. Defined Contribution (DC)- The Employer is empowered to budget the organization's dollar contribution to the overall Benefit Plans year-by-year! These Benefit Dollars/Credits are then allocated to the Employees and their families on a non-discriminatory basis for them to shop from a menu of benefits - including the Health Plan to meet their budget and needs.
2. Reference Based Pricing (RBP) - RBP Is a healthcare cost-containment strategy where a set price, based on a benchmark like Medicare, is used to pay for medical services instead of traditional, negotiated rates. An RBP plan pays a set amount for a service, plus a fair profit margin, and an employee's responsibility is often limited to that price. Early in the development of RBP plans "Balanced Billing" was an issue. Balanced Billing is when the provider refuses to accept the RBP plan's payment, they bill the patient for the remaining cost—the difference between their price and the plan's set payment. Sophisticated RBP Plan Design by experienced professionals and negotiated Provider Contracts have for the most part eliminated this problem!
3. Self-Funding Plans (Fully, Level or Captive) - Unlike fully-insured plans - which charge a fixed premium - self-funded options offer more flexibility and transparency into healthcare costs.
4. Third Party Administration (TPA) - The TPA - Experienced in working with the Solutions implemented - handles the day-to-day administrative tasks, such as claims processing, and compliance. The TPA ensures the Solutions run smoothly for both the Employer and Employees and Service Providers.
5. Reimbursement Accounts - These are Employer and Employee funded accounts that reimburse Employees for qualified medical expenses, insurance premiums, and other qualified out-of-pocket expenses. A set amount of tax-free money is set aside for Employees to use for eligible costs, such as co-pays, deductibles, prescriptions, and premiums. These plans offer Employers and Employees tax advantages.
6. Menu Building of the Health Plans and Employee Benefit Choices (Including the: Health Plan; Traditional Core Group Plans; and "Best-of-Class" Voluntary/Worksite Vendors and Plans). Becauxe all plans and Services have become voluntary under Defined Contribution (DC) plan design, the Employees are empowered to select Plans and Services that meet their individual and famly needs within their budgets.
7. Pharmaceudical and PBM oversight - Oversight refers to the regulatory and audit processes that monitor Pharmacy Benefit Managers (PBMs) to ensure fair practices, prevent anti-competitive behavior, and control prescription drug costs. The goal is to increase transparency, ensure patient access to medicine, and hold PBMs accountable for their impact on the costs.
8. Employee Assistance Plans (EAP) - These are work-based programs that provide Employees and their families with confidential, short-term counseling, referrals, and follow-up services for a wide range of personal and work-related issues, such as stress, family problems, and financial concerns.
9. Education / Communication for the Health Plans and Employee Benefits annually and on an ongoing basis. This is the lynch pin that empowers Employees to make informed decisions and to assist in generating the Savings of 20% to 40% or moreI
10. Employee Benefits Enrollment - Choices of Methods, Oversight and Implementation - This solution strives to customize the strategies to meet the unique needs of each Employer Group and to meet the needs of Employees and their Families.
11. Data Management - The practice of collecting, distributing, storing, organizing, protecting, and using an Employer's data to make it accurate, accessible, and secure.
12. Coordination of the Implmented Solution(s) in the near and longer term, including: Plan Implementation; Evaluating Outcomes; Plan Monitoring & Management; Oversight of Partners and Service Providers; Keeping an Eye on the Costs and Savings generated while providing the Employer full Transparency.

These Solutions Work - Individually or even better as a coordinated group!

What's Next? I hope the above Solutions pointed you in the right direction for Saving 20% to 40% or more on your Health Plans and Employee Benefits. While the Solutions - Strategies, Plans and Services - may seem complicated, the process can be turnkey, seamless and efficient and cost-effective.

As with most endeavors, you need to work with the Right People who are seasoned veterans! We put your team together! Have Questions or Want More Information about these Soluyion - or other Cost-Saving Strategies?- Let's Talk! Reply or Message -- Phil Eide - 216.577.5579 // Email - phil@vestabp.com // Visit www.vestabp.com

Have a Great Week!