Opportunity Knocks Part II | Employee Benefits 101 | Holloway Benefit Concepts

Opportunity Knocks Part II | Employee Benefits 101 | Holloway Benefit Concepts


Hey it’s Ryan with Holloway Benefit Concepts. So we’re back! We’re going to talk about a couple more things
that you can do in this busy time of the year this evaluation time period that you can take
advantage of and help prepare you better or what’s coming. So, in video one we talked about surveying
employees, taking a look at your claims data to really evaluate the program and see how
it’s working. So let’s pretend you’ve done all that you
realize that maybe you do have some opportunity to look at some different providers or change
up your program. One of the first things you need to do if
your on a program that has a network tied to it, before you just jump ship, you want
to be sure that the new network that you’re looking at is adequate. A lot of times changing from one insurer to
another there’s going to be a little bit of disruption – no doctor always contract with
all the same networks, but you want to make sure that it’s not a huge disparity. Alternatively you may realize that, you know
what? My employees are young they don’t really have
doctors they care about, it might be time to evaluate maybe a smaller network or even
something completely different, you won’t know that until you evaluate your employees. If you need to evaluate networks at a high
level we actually have an annual study that we do where we compare doctor networks, hospital
networks, urgent cares etc. and so we’ve done a lot of that leg work for you. So, you can check out our study and see if
who you’re looking at or who you’re with, if they’re comparable. If they are you shouldn’t have any problems
making a move, but if they aren’t may not be the network you want to consider moving
into. And you can find that link in the description
of this video or, if you’re on social media, you can find it in the post. And the one other thing I’ll mention, if you
gotten your claims and they look really good it might be time to consider getting out of
the fully insured market and evaluating an underwritten program. You can get the same exact benefit levels
but if you’re a good risk for an insurance company, meaning you’re not expected to drive
a lot in claims, your costs can come down considerably and in some contracts you may
even be eligible for refunds down the road for unused claims dollars. In summary you’ve done your network evaluation,
you’re looking at it or if you need help, check out our study be sure you’re taking
a look at your networks before you make that big and the other point we want to make is
if your claims are running well, if that looks really good, consider getting out of the fully
insured market you’re going to get benefits that are just as good a lot of times it a
much, much better price point. Thank you so much for joining us today, stay
tuned for video number three and we’ll talk to you soon!

Author: Kevin Mason

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