The path to self-funded care can seem scary…
As the leaves change colors and the weather turns crisp, visions of ghosts and ghouls swirl in our minds. Images of black cats and witches pale in comparison to the fear-inducing feelings that come with navigating healthcare. With enrollments just around the corner, these feelings become palpable. Thankfully Hines is here to work with brokers and TPAs to guide employer groups and their members to the best options for care with our time tested solutions.
Moving from conventional health insurance to a self-funded plan may be a strategic decision, but the primary worry for numerous companies is still the ability to estimate costs. In conventional insurance a set amount is paid every month which gives you an idea of your expenses, but usually without much freedom or influence over the factors affecting these costs.
Conversely, self-funding allows for fluctuating costs, which can reach up to 85% of your total expenses with a group captive plan. Although it may seem daunting, it provides a chance to manage expenses by utilizing data-driven methods that reduce costs and enhance the value of your health plan.
How can organizations transition to self-funding without being caught off-guard by unforeseen costs?
…Employer groups navigating this path don’t have to walk alone…
Hines & Associates offers expert advice and tactics to assist businesses in dealing with the complexities of self-funded insurance and addressing cost variability concerns. With health insurance premiums rising by 22% in the last five years, businesses are looking into self-funding as a potential solution to address these escalating costs. How can you guarantee that the transition to self-funding won’t lead to financial instability?
Hines’ distinctive method enables you to keep the advantages of a self-funded plan while offering improved cost predictability compared to standard self-funding choices. Hines’ unique approach allows you to maintain the benefits of a self-funded plan with greater cost predictability than traditional self-funding options.
- Transparency and Control: While costs may vary within a group captive plan, you can control them through data-driven strategies. By utilizing claims data and benchmarking, Hines helps you pinpoint cost drivers and implement targeted interventions to mitigate expenses.
…Our team of registered nurses and care professionals can be your guide!
Quantifiable Savings and Proven Impact
Over the last 38 years, Hines has empowered organizations to quit overpaying on insurance and keep more of their own money. This focus on returning funds, combined with robust cost containment strategies, makes it an attractive alternative for companies seeking predictability and savings in their health plans.
The Hines Difference: Expert Guidance Every Step of the Way
Switching to self-funding doesn’t have to mean sacrificing cost stability. With Hines Associates’ expertise, you’ll receive ongoing support and strategies to manage your healthcare costs proactively:
- Cost Containment Solutions: We analyze your claims data to identify areas of excess spending and implement cost-saving measures without compromising on the quality of care.
- Strategic Plan Design: We tailor your self-funded plan to align with your company’s unique needs, ensuring maximum efficiency and value.
- Data-Driven Insights: Our team provides actionable insights and recommendations based on your data, enabling smarter decision-making and sustainable cost reductions. Our wellness platform Healthy Tomorrows by Hines epitomizes this data-driven approach.
- End-to-End Negotiations: Our fee negotiation team is well equipped with the experience, expertise, and data required to conduct successful negotiations with provider sign-off for greater savings and minimal noise.
To learn more about our mission to make healthcare less scary, message Courtney at cbeckers@hinesssoc.com
