Group Health

“Health Insurance is Expensive. You’re Probably Overpaying. Let’s Fix That.

In today's ever-evolving healthcare landscape, managing employee benefits can feel overwhelming. Rising costs, lack of transparency, and an influx of confusing options often leave employers feeling powerless.

Regain control over healthcare costs.

The Challenges Businesses Face

  • Endless Price Increases: Healthcare premiums rise annually, often outpacing wage growth.

  • Lack of Control: With traditional insurance, employers have little say in the cost of care.

  • Opaque Pricing: Most business owners aren't aware of what drives their premiums or the cost of care.

  • Rising Deductibles: Employees are forced to bear more of the cost, affecting morale and retention.Here's some stuff

Common Employee Benefits Structures

Understanding the various funding models available is the first step in choosing a plan that fits your business.

1. Fully Insured Plans

With fully insured plans, you pay a fixed premium to the insurer each month. This option is ideal for businesses that prefer a predictable expense. However, it provides limited flexibility and often includes rising premiums without a clear reason. The insurer keeps any unused funds, even if your employees had fewer claims.

2. Level-Funded Plans

This hybrid option combines the predictability of fully insured plans with some of the financial advantages of self-funding. Your business pays a set monthly amount to cover claims, administrative costs, and stop-loss insurance. If claims are lower than expected, your business may receive a refund. This model offers more control and transparency without overwhelming risk.

3. Self-Funded Plans

In a self-funded arrangement, your business pays for claims as they are incurred. Stop-loss insurance is included to protect against unexpectedly high claims. Self-funding offers maximum control and transparency, allowing businesses to keep unused premium dollars and better manage costs. This option is best suited for businesses with healthy cash flow and a desire for greater customization.

Reference-Based Pricing: A Modern Solution

One cutting-edge cost-containment strategy is reference-based pricing. This model reimburses healthcare providers a fixed amount, often tied to Medicare rates, regardless of the provider chosen. It eliminates network restrictions, giving your employees more flexibility and helping your business avoid inflated costs.

Many modern employee benefits packages now include supplementary services that go beyond traditional coverage:

  • Virtual Health Options: Offer your employees access to telemedicine, including mental health services, reducing unnecessary visits and boosting convenience.

  • Chronic Condition Management: Programs like cancer coaching and musculoskeletal health management help employees manage long-term health issues more effectively, lowering overall claims costs.

The Benefits of Customized Solutions

Every business is unique, and your benefits should reflect that. Tailored solutions provide:

  • Transparency: You'll understand what drives your healthcare costs.

  • Control: Take charge of how claims are funded and receive refunds for lower-than-expected claims.

  • Simplicity: Managing your benefits doesn’t have to be complicated. Today’s plans are designed with simplicity in mind, offering a comprehensive approach that includes everything from plan design to stop-loss insurance.

Why Choose Flexible Benefits?

When you offer tailored, transparent benefits to your employees, you create a more engaged and loyal workforce. Investing in their well-being helps to attract and retain talent, ultimately boosting your company's success.

Ready to take control of your employee benefits? Book a consultation today to discover how you can save on healthcare costs while providing your team with the benefits they deserve.

We’ll audit your current plan, compare it to the best options in the market, and show you exactly how much you could save.

🔹 100% Free, No Obligation

🔹 Tailored for Businesses with Under 50 Employees

🔹 Backed by 15+ Years of Expertise

BlackIron Financial