Same results another year?
Question: Are you constantly frustrated from yearly annual increases and reduced benefits for your employees?
As I wrote in my last post, Medicare hospitalization reimbursement trend rates are way below what commercial insurance plans are trending. To control your group medical plan's cost, you need to control what the cost is for care. Making a switch to a small network is not going to help you save substantial money. It will just lessen your employee's satisfaction with your benefits offering. Suppose you genuinely are interested in reducing the cost of your group medical plan. In that case, you must consider changing your provider reimbursement schedule. This is done by creating a different reference base point for reimbursement and opening up access.
This approach doesn't only work for large corporations. It also works for small companies. Case in point, a small church in Bloomington, MN, came to us because their current MEWA plan was dissolving. Fully-insured Obama ACA plans would have increased their rates by 35% and charged families even more. We moved them to a level self-funding arrangement and implemented referenced-based pricing. We were able to hold their rates flat with no increase from the previous offering. One year later, the same little Church of 13 enrolled employees will receive a refund of over $17,000 and another year with no premium increase.
The care for its employees did not lessen in any way, and we opened their network to any provider that would accept Medicare.
These results may sound unheard of and not possible, but that's because your current brokerage is not providing you these solutions. It would help if you were working with us.
We appreciate the opportunity to work with you.
Thank you so much.
Gregory S. Sailer RHU, REBC
SAILER BENEFIT SERVICES, INC.
UNIQUE EXECUTIVE & EMPLOYEE BENEFIT STRATEGIES FOR TODAY’S BUSINESS
8623 Eagle Point Blvd. | Lake Elmo, MN 55042
Office: (651) 702-5626
Cell: (651) 503-4068
“Thank you so much for the referrals”
Ranked 2020 Top 25 Insurance Brokerages to work with
by Minneapolis/St Paul Business Journal.