Executives feel powerless about the current state of healthcare, pigeon-holed into accepting rate increases from insurers due to a lack of control over negotiations, removing any ability to regulate costs. Many leaders fail to realize that the excess medical premium they are paying is feeding the insurers’ bottom line, resulting in a 67% increase in insurance companies’ profits in the last five years.
Said another way, 10‐15% of a business’s total healthcare spend bolsters insurance companies’ bottom line, seriously damaging profitability and undermining a company’s ability to invest in needed talent to drive business growth. Today, forward-thinking organizations are focusing on the intersection of HR and finance to capitalize on high-performing funding alternatives that optimize risk management, control costs and maximize employee engagement.
OneDigital’s Captive Solutions help leaders enhance their health plan, proactively improving employee engagement and satisfaction while maximizing cost containment strategies.
Employers that are fully insured and have 50–500 employees have limited ways to fund and manage their health plan and spend. Join OneDigital’s George Papagelis to discover how an alternative funding solution can proactively control long-term healthcare costs.
In 2018, a group of small and mid-sized employers joined forces to fight the status quo by joining the OneDigital Captive. This progressive and strategic approach allowed the group to manage their health plan with transparency and flexibility. Discover how the group experienced positive results year-over-year with their respective health plans and businesses.
Healthcare spending is expected to rise an average of 5.5% annually, surpassing the rate of overall inflation or wage growth, creating an unsustainable situation for most businesses. Tired of succumbing to the “status-quo” of obscure rate increases? Find out if an alternative funding model like a Group Captive would make sense for your organization.