Our CEO, Scott Wood, showed how important employee benefits strategy is to controlling health plan costs and providing real value for employees at a national conference in which he participated this week.
And, as audience members peppered Scott with questions during and following the panel discussion, it was obvious that his thought leadership and expert knowledge was much appreciated.
He was one of four employee benefits experts on a panel exploring Consumer Directed Health Plans (CDHPs) at a national conference this week: the Alegeus Client Conference in Louisville.
CDHPs Provide Value, Not Cost-Shifting
Although several attendees indicated they struggle with the misperception about CDHPs as a cost-shifting technique for employers, Scott clearly explained why this is just not so, if the plan is properly structured and implemented.
By designing actuarially equivalent health plans when a CDHP is launched, an employer can implement the new plan without cost shifting. In many cases, the economic value of the benefits is actually improved in the CDHP plan, compared to the prior traditional plan.
This type of design and strategy is integral to the approach used at Benefit Commerce Group.
Consumer Directed Health Plans Growing in Size and Importance
Alegeus, the host of this conference, is one of the nation’s leaders in CDHPs. Alegeus acts as the backroom for over 300 insurance companies, TPAs and banks for their CDHPs, serving 29 million consumers and over 225,000 employer clients.
With many changes in health insurance plans, CDHP participant growth has been exponential in the period 2006-2015: from 4 percent to 24 percent of covered workers.
Benefit Commerce Group Client Also on Panel—Provided Employer Perspective
We are proud that one of the other members of this expert panel was one of Benefit Commerce Group’s own clients: Ken Solheim, Human Resource Director at Master Electronics in Phoenix.
Ken did a great job presenting the employer perspective of CDHPs. Master Electronics has been extremely successful in implementing CDHPs and has improved employee benefits and lowered costs each year for three years. That kind of success takes planning, effort, and persistence, but it has paid off enormously at Master Electronics.
If you would like to know more about CDHPs and any other employee benefit strategies to turn your benefits into an engine to attract and retain quality employees, contact Benefit Commerce Group at 480-515-5010, or email us at firstname.lastname@example.org.