If you’ve spent any amount of time looking at options for providing healthcare benefits to your employees, then you already know: the status quo isn’t working.
One major area where the system as we know it is broken is in the lack of transparency in advisor relationships.
Opaque, limited data and blame-shifting are the name of the game.
Captiva Benefit Solutions believes that we can (and should) do better. Find out how our approach, based on The Health Rosetta, challenges and changes the norm.
Year By Year Changes vs. Long-term Stability
Your average benefits advisor is going to shop around every year for a new insurance arrangement. Given how quickly health insurance costs are consistently rising, that almost certainly means they’ll come back to you with a higher cost every year.
Even worse, they might not actually be working to negotiate your cost down as much as you think they are.
Insurance brokers often get a cut of the profit, so it might not be in their best interest to actually find you the lowest deal.
By contrast, we work with you to lock in a long-term game plan, looking 3-5 years ahead. We’ll make sure that you know where you’re headed, reigning in skyrocketing costs and yearly price surprises.
Blind Cost Acceptance vs. Negotiation and Compromise
Even if your advisor is doing their absolute best at shopping around and comparing prices, usually they’ll just take an insurance provider at offer face value.
Unfortunately, many of those providers are massively overcharging. Lawsuits against major providers disputing their charges have become commonplace, with Cigna most recently facing a class-action lawsuit for overcharging clients.
Our approach removes the risk of blind faith in for-profit middlemen. With reference-based pricing and more direct relationships between businesses and health care providers, we make it clear to you what different services cost — and don’t expect you to shell out far over and above.
Captiva is able to use the Medicare cost for a procedure as a baseline and negotiate with hospitals on a price that allows them some reasonable profit margin while saving your business the staggering costs insurance companies have normalized.
Employee Blaming vs. Action and Ownership
Big insurance providers often default to blame shifting when costs keep rising, and the favorite scapegoat is often your employees.
As a result, they punish your employees by shifting more of the burden onto them with increased deductibles and copays. They also might blame your employees for not seeking preventative medical care, even though the only preventative measures available to them through big insurance are often overpriced and impersonal (both found to be major barriers to seeking care).
When your employees suffer, your business culture and effectiveness as a whole suffers with them.
Instead of scapegoating, Captiva Benefit Solutions analyzes the data to figure out exactly where higher costs are coming into play. We know that the only true method for lowering costs is through improving the whole benefits system.
Our core value of transparency means that we’ll be able to show you hard facts about where the money is going, and where you can eliminate costs.
If this sounds like a better option than the status quo, contact us today for more transparent, affordable health benefits.