Beyond Benefits, a group health insurance plan offered by Barney & Barney to Biocom Member Companies with 5 or more employees, has grown significantly since launching in 2012 with 11 companies and over 500 employees. The program has saved member companies $6.1 million in annual medical premiums, representing an 11.8% savings, and additional value-added benefits worth $717,777. Membership has increased over the past 6 months with more companies and enrolled employees joining the program.
IMPLEMENTATION OF A SUCCESSFUL HEALTH MANAGEMENT STRATEGYHuman Capital Media
Cherokee County, Georgia, Board of Commissioners together with their consultant, Insurance Office of America, began the process of developing a health management strategy, or HMS, for their self-funded employee benefits program. The county’s plan was bundled with a national carrier and had been in the red financially for many years. The objectives were to reduce spend in the health plans without reducing coverage nor increasing employee premiums. Further, it was the county’s desire to maintain the current network of providers, to improve engagement with their health plan members and to improve the overall perception of the employee benefits program. The county’s final goal was to then develop a long-term strategic plan for their employee benefits program. Developing and deploying an HMS is an integral part of the solution because it is designed to allow for the bolt-on application of new, creative, risk-management-type vendors who could add value to the plan while lowering spend for the county. This was achieved by unbundling services from the carrier and implementing six new best-in-class vendors enhancing coverage where all but one was voluntary in nature, meaning the health plan members didn’t have to use them.
Learning Objectives/Session Takeaways:
Innovative health management strategy designs for self-funded plans.
Change management: buy-in from key stakeholders, reccurring education and strategic communications to plan members.
Top talent: Authentic teamwork and partnership are key.
Did you know that chronic diseases cost American employers $153 billion in lost productivity per year?
Because of this and other reasons, companies are moving to a more fitness-focused work culture. Organizations understand that the health and wellbeing of their employees can have a positive impact on the bottom line. In 2016, workplace wellness programs reached a new milestone with 84% of U.S. companies offering wellness initiatives or planning on expanding them over the next few years.
What are the top wellness initiatives employers look to use in 2017 to keep employees healthy, productive, and saving thousands of dollars for themselves through reduced medical bills? We look into the ROI of wellness, the VOI of Wellness, some of the most innovative steps employers are taking to improve wellness, and much more in our latest infographic.
The Healthcare Trends Institute, an educational platform focused on the rapidly changing healthcare benefits industry, conducted its fourth annual employer benefits study. The national survey went to over 250 human resources executives, benefit specialists and other benefit decision makers from organizations ranging in employee size from less than 50 to over 2,500. The quality and cost of healthcare is on every employer’s mind. The CMS has potential healthcare spending reaching $4.2 trillion by 2020. With our nation in a state of transition right now, there are some relevant considerations employers are facing as they look to transform the inevitable cost curve ahead and meet yearly organizational healthcare cost containment goals.
The Survey formed the basis for the 2016 Healthcare Benefits trends report on the following topics:
CURRENT HEALTHCARE BENEFIT BENEFITS: Identifies the most widely implemented health plan and benefit strategies employers are relying on to control costs, administer a wide-range of employee benefits and remain compliant in an ever-demanding regulatory environment.
Use of and Interest in Defined Contribution Plans, Benefits Redesign, and Employee Communication: Examines the awareness by organizations of defined contribution plans, their advancement in retooling benefit offerings, and commitment to communication efforts that educate and engage employees.
HEALTHCARE BENEFIT TRENDS – LOOKING FORWARD: Recognizes new market trends and approaches employers are considering to meet the needs of multi-generational, diverse employee populations.
2016 Presentation to the Benefits Committee of the TSA Texas Sign Association on the concept of self-insured group medical stop loss captive for employee health insurance.
IMPLEMENTATION OF A SUCCESSFUL HEALTH MANAGEMENT STRATEGYHuman Capital Media
Cherokee County, Georgia, Board of Commissioners together with their consultant, Insurance Office of America, began the process of developing a health management strategy, or HMS, for their self-funded employee benefits program. The county’s plan was bundled with a national carrier and had been in the red financially for many years. The objectives were to reduce spend in the health plans without reducing coverage nor increasing employee premiums. Further, it was the county’s desire to maintain the current network of providers, to improve engagement with their health plan members and to improve the overall perception of the employee benefits program. The county’s final goal was to then develop a long-term strategic plan for their employee benefits program. Developing and deploying an HMS is an integral part of the solution because it is designed to allow for the bolt-on application of new, creative, risk-management-type vendors who could add value to the plan while lowering spend for the county. This was achieved by unbundling services from the carrier and implementing six new best-in-class vendors enhancing coverage where all but one was voluntary in nature, meaning the health plan members didn’t have to use them.
Learning Objectives/Session Takeaways:
Innovative health management strategy designs for self-funded plans.
Change management: buy-in from key stakeholders, reccurring education and strategic communications to plan members.
Top talent: Authentic teamwork and partnership are key.
Did you know that chronic diseases cost American employers $153 billion in lost productivity per year?
Because of this and other reasons, companies are moving to a more fitness-focused work culture. Organizations understand that the health and wellbeing of their employees can have a positive impact on the bottom line. In 2016, workplace wellness programs reached a new milestone with 84% of U.S. companies offering wellness initiatives or planning on expanding them over the next few years.
What are the top wellness initiatives employers look to use in 2017 to keep employees healthy, productive, and saving thousands of dollars for themselves through reduced medical bills? We look into the ROI of wellness, the VOI of Wellness, some of the most innovative steps employers are taking to improve wellness, and much more in our latest infographic.
The Healthcare Trends Institute, an educational platform focused on the rapidly changing healthcare benefits industry, conducted its fourth annual employer benefits study. The national survey went to over 250 human resources executives, benefit specialists and other benefit decision makers from organizations ranging in employee size from less than 50 to over 2,500. The quality and cost of healthcare is on every employer’s mind. The CMS has potential healthcare spending reaching $4.2 trillion by 2020. With our nation in a state of transition right now, there are some relevant considerations employers are facing as they look to transform the inevitable cost curve ahead and meet yearly organizational healthcare cost containment goals.
The Survey formed the basis for the 2016 Healthcare Benefits trends report on the following topics:
CURRENT HEALTHCARE BENEFIT BENEFITS: Identifies the most widely implemented health plan and benefit strategies employers are relying on to control costs, administer a wide-range of employee benefits and remain compliant in an ever-demanding regulatory environment.
Use of and Interest in Defined Contribution Plans, Benefits Redesign, and Employee Communication: Examines the awareness by organizations of defined contribution plans, their advancement in retooling benefit offerings, and commitment to communication efforts that educate and engage employees.
HEALTHCARE BENEFIT TRENDS – LOOKING FORWARD: Recognizes new market trends and approaches employers are considering to meet the needs of multi-generational, diverse employee populations.
2016 Presentation to the Benefits Committee of the TSA Texas Sign Association on the concept of self-insured group medical stop loss captive for employee health insurance.
Beneplan is an employee benefits co-operative representing tens of thousands of Canadians. Members receive premium refunds when their claims are low. To learn more, visit beneplan.ca.
Aditya Birla Health Insurance Company is a combined business enterprise between Aditya Birla Group of India and MMI Holdings of South Africa. It was established 2016 as a standalone health insurance company from the Aditya Birla Financial Services Group.
Leveraging Federal Financial Assistance Programs During COVID-19Kareo
Bill Finerfrock, HBMA Director of Government Affairs, will break down the CARES Act and its associated programs to provide you with key takeaways to help ease financial burdens and maintain current staff levels.
In this webinar, Bill will discuss:
-New Paycheck Protection Program
-Other SBA (Small Business Association) programs
-Medicare Advanced Payment Options
-Provider Lost Revenue Program
HR Webinar: The Affordable Care Act Turns 10 Years Old: Where to From Here?Ascentis
Happy Birthday, ACA! Ten years ago, on March 23, 2010, the ACA was signed into law. Adding an unprecedented level of consumer protections and minimum quality standards to the health insurance Americans use, the law was and remains controversial to this day. In fact, the rate of uninsured nonelderly Americans dropped from a high of 17.8% in 2010, to 10.0% in 2016. The cancelation of the individual mandate, among other factors, has started to reverse that trend, with increases in the uninsured rates in 2017 and 2018. As the ACA celebrates its tenth birthday, it has something else to celebrate: its highest approval rate since public opinion polls began tracking it: 55% favorable opinion vs. just 37% unfavorable opinion.
As an HR professional, always busy with a hundred other people priorities at your company, it is hard to keep up with the ever-changing laws in the health insurance industry, and specifically, the ACA. With the law predicted to head to the Supreme Court soon for the third review of its fundamental constitutionality, receiving real-time updates becomes even more important. See what has changed in the ACA, looking at where it started to where it is now in this webinar!
Learn how you can make your dollars go further and reduce your out-of-pocket costs for qualified health care expenses and insurance premiums, take more control over health care spending decisions and benefit from significant tax savings when enrolling in a Health Savings Account (HSA).
Presentation to show how a High Deductible Health Plan paired with an HRA or HSA can allow an employer to maintain medical benefits while savings 10% or more
1. MONTHLY UPDATE
April 2016
OVERVIEW
For more than three years, Barney & Barney’s Beyond Benefits program has provided Biocom Member
Companies with five or more employees access to a group health insurance plan that offers composite rates,
simplified underwriting and consolidated service.
In January 2012, the program originated with 11 companies representing over 500 employees. Beyond Benefits
membership has grown tremendously, along with the great savings Member Companies have enjoyed.
BEYOND BENEFITS “BY THE NUMBERS”
VALUE ADDED BENEFITS!
Value of Additional Benefits for Member Companies = $717,777
Additional Benefits Include PlanSource Online Benefits Administration,
Wellness, COBRA Administration & Employers Group Membership
REAL NUMBERS!
Since inception, Beyond Benefits has saved Member Companies
$6.1 Million in Annual Medical Premiums. That’s 11.8%!
The total medical premium in the Trust has reached $80.7 Million!
# of Member Companies
from past 6 months
# of Enrolled Employees
from past 6 months
www.beyond-benefits.org
