“What groups are a good fit for freshbenies?” Do you ask this question? It’s one I hear A LOT. My short answer is that just about any group is a fit for freshbenies. While true, there are more definitive ways to answer the question.
Today, I’m sharing 3 real-life examples of very different groups and how freshbenies met specific needs.
1. Address high out of pocket costs - Encon System
Soaring medical rates often result in the group having to raise employee out of pocket costs. Over the course of a few years, this small group was hit with increases again and again. To help alleviate the burden to employees, the broker recommended a new strategy: carve out $12/PEPM from the health plan budget to bring in a suite of tools to help the employees save on out of pocket costs.
During the first couple months after installing freshbenies, the owner came down with the flu. He fought the urge to take his usual route of an in-person urgent care center visit and gave the telehealth service a try. Soon, he was on his way to feeling better. This moment was huge. Once the owner returned to work, he stood in front of his 25 employees and told them about his experience. Over the next few weeks, a dozen of the 25 employees came down with the flu, and every one of them was treated using the freshbenies telehealth service. Meaning they paid nothing, rather than the approximate $165 urgent care center visit fee. By the way, this is a perfect example of leadership support – just one of our recommended strategies for great implementation and usage.
2. Reduce self-funded claims – Tarrant Regional Water District
Tarrant Regional Water District (TRWD) is a self-funded group that wanted to expand their benefits package with services to help employees reduce out of pocket costs and increase their access to care, thereby avoiding unnecessary claims against their medical plan.
After discussing these needs with a freshbenies rep, the broker went back to the group with a single solution to meet all three needs. By adding new services like $0 telehealth visits, email access to over 24 physician specialties, and Advocates to navigate healthcare decisions, employees saved and the number of claims were reduced.
Being self-funded, this group wanted to keep a close eye on usage. Our proprietary utilization dashboard allowed the broker and group to monitor employee use and savings. Last year we did a case study highlighting TRWD’s results. In the first 4 years, their 284 employees used freshbenies 970 times. In that time period the group spent $105,000 on freshbenies, but achieved a total savings of $502,000.
3. Meet needs of unbenefited employees - North Texas Bells
A year ago, I would’ve considered this a 100-life group in terms of benefits. But as freshbenies designed the release of our Power Package last August, we recognized large sectors of employees (and prospects) are being overlooked. This resonated with the employer, too.
Traditionally, the broker conversation with NTB would focus on the medical insurance plan - the rates and the level of participation. Instead, the conversation started with the HR issues happening in the group…
- 800 employees are not medical-eligible.
- The company has high turnover amongst these – close to 100%. But turnover mostly occurs during the first year or so.
- Although they’re non-benefited, those employees who remain with the company are very valuable to NTB. The owner identified the two-year threshold and the five-year threshold as especially key anniversaries. He said, “At that point, I’d do anything for them.”
- “So, what DO you do for these employees?” While insurance isn’t an option, he didn’t know there were other non-insurance benefits that allowed him to set the rules of engagement.
From there, we were able to have a conversation about all 1,000 employers. Changing the script turned this into a rich strategy session. NTB was inspired by the idea of being able to structure a benefits program that allowed them to set the qualifications (i.e. at the 2-year anniversary level). And while we continue to develop the ideas, they immediately installed freshbenies for the 200 benefits-eligible employees.
It’s a win for the employees and it helps the owner fight the turnover battle with some affordable, high-value incentives. This approach was far better than a “salesy” product conversation.
While the groups are different, there is one critical, common theme: to come up with a great solution, the brokers took time to strategize with their freshbenies rep about the specific needs of their group(s).
Would you appreciate hearing more real-life examples that have worked? Click the image below to watch our recent webinar on this topic…
My favorite thing to do is strategize with brokers to come up with creative methods that either help cement an existing client or win a new account. Think about your toughest renewals or a new prospect you’re dealing with right now. Look beyond the issues of their medical plan and consider the business issues they face on a daily basis. What solutions can you offer? Most of us are in this industry to help people and the fewer limits we place on that vision, the more we can make a difference!
Now it’s your turn! What techniques do you use to strategize solutions for your client needs? How do you uncover pain points so you’re addressing their biggest issues? Comment below or email me at firstname.lastname@example.org.