The Everlong Difference (Part 3): Use Positive Peer Pressure to Your Advantage

The Everlong Difference (Part 3): Use Positive Peer Pressure to Your Advantage

The Everlong Difference (Part 3):

Use Positive Peer Pressure to Your Advantage

We’ve all heard that peer pressure is “bad” and although that’s arguably true, there is new research that indicates how positive peer pressure creates a social advantage. And within the field of behavioral economics, human behavior is explained as being shaped by certain influences like social pressure.

This intuitively makes sense, right? What if there was a better way to purchase group health insurance?

There is a better way. And it makes sense, too.

Within our high performance health insurance captives, there are no more than 50 members (employers) per cell. This means your client truly gets to know their fellow captive cell members over time and yes … feel a little positive peer pressure as their fellow captive members improve their plans and reduce their costs. This social dynamic is a powerful force elevating the performance of each cell. 

What makes for an ideal captive member?

  • 50 to 500 employees on the medical plan
  • Fully insured or self-funded (and tired of it)
  • Few decision makers
  • Innovative decision makers
  • Appetite for claim reduction initiatives

Members also network continuously throughout the year, providing each other with timely input on existing and potential claims reduction vendors and other invaluable insights. Each cell also determines the location and format of their Annual Member Meeting (most recently Park City, Utah).

Member cells are led and managed by a seasoned Everlong consultant that has incentive-based compensation tied to the financial performance of the cell.

For employers that are members of the Everlong Captive, they are able to reinvest the profits that health insurance carriers make back into their business.

Walter Payton of the Chicago Bears once said, “We are stronger together than we are alone.”

It’s with that same team spirit in mind, camaraderie, and positive peer pressure in practice that we embody within the Everlong Captive. Build in your advantage today. Become an Everlong Captive member.

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The Everlong Difference (Part 2): Give Your Clients the Benefit of Two Years

The Everlong Difference (Part 2): Give Your Clients the Benefit of Two Years

The Everlong Difference (Part 2):

Give Your Clients the Benefit of Two Years

What if your clients could have the luxury of time (up to two years) on their side? Time to participate in a purpose-built high performance health insurance captive. Time to stop shopping for stop-loss coverage. Time to mitigate the wild fluctuations in stop-loss premium. Time to keep the … profit.

We call it our Brand Promise Guarantee.

Aside from being acquired, dropping below 50 employees on the plan, or going out of business, if your client leaves the program in the first two years, we’ll refund you 100% of our fees.

Welcome to a better way to purchase group health insurance.

Our founders were innovative benefits brokers, just like you and have reimagined and redesigned employer-based healthcare by building high performance health insurance captives designed with your clients’ financial, operational, and employee health outcome needs in mind.

Here are some of the benefits your clients can expect:

  • Lowest cost possible
  • Improved employee health
  • Full access to Springbuk platform
  • Membership owned (full passthrough transparency)

In addition to maximum transparency, we also maximize stability in the stop-loss premium.

Our 5-year average stop loss increase was only 3.9%. It’s likely your clients are experiencing the industry stop-loss trend that’s 4x-6x times higher.

As the industry evolves, consider what percentage of your book should be held in a captive.

It’s time to take action.

It’s time to bring your clients to Everlong and maximize their satisfaction.

Work With Us

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The Everlong Difference (Part 1): Group Health Insurance Is Broken and We’re Fixing It

The Everlong Difference (Part 1): Group Health Insurance Is Broken and We’re Fixing It

The Everlong Difference (Part 1):

Group Health Insurance Is Broken and We’re Fixing It

The current system is broken. Traditional compensation models have misaligned incentives built in.

Consider for a moment how stop-loss insurance actually functions. The reality is stop-loss carriers are working for the benefit of their shareholders. Hospitals, carriers, and sub-par brokers are conflicted because they all gain when prices go up (which they have for the past two decades). You lose.

Hospital corporations and healthcare services companies have been steadily increasing prices … because they can. What if there was a better way to purchase group health insurance?

There is a better way.

Our founders were innovative benefits brokers, just like you.  They developed a truly independent and ethical solution by reimagining how employer-based healthcare gets done – for you, your clients, and even us.

By participating in our high performance health insurance captives your clients can expect:

  • No overrides of any kind from any carrier or vendor (our members come first)
  • Your clients receive their money immediately at the close of the year
  • Membership owned (full passthrough transparency)

And our incentives are fully aligned with you and your clients. We use a fee-based PEPM compensation model, which means we win when your client grows, not when their premium increases.


It’s time to stop shoveling money at the fully insured stop-loss carriers and instead pay as little as possible and keep the profits of what you do pay. Turn back the tide of ever-increasing medical insurance costs caused by lack of control and transparency.

Learn More

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Trump Administration Releases Transparency Rule in Hospital Pricing

A first in the healthcare industry, the Trump administration is moving forward with their plan to force hospitals and insurers to provide transparency in their cost information to consumers in advance. This will cause a major shake-up in the healthcare industry, with supporting and opposing viewpoints. But how will this affect both the consumers and the insurers going forward?

Contact us to learn more.

 

Trump Administration Releases Transparency Rule in Hospital Pricing

Wall Street Journal

Insurers would also have to create a web-based tool for beneficiaries that discloses the list price, the negotiated rate, cost sharing, and the amount left on a plan deductible, as well as allowable out-of-network rates, officials said. There will be a 60-day public comment period on the proposal.

The proposal also states that “price transparency may have the opposite effect because in some markets where pricing is very transparent, pricing can narrow and average costs can increase.”

Read More: https://www.wsj.com/articles/trump-administration-releases-transparency-rule-in-hospital-pricing-11573825649?mod=djemalertNEWS

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Game-changer’: How One Employer Got Off the Hamster Wheel

Game-changer’: How One Employer Got Off the Hamster Wheel

Terrie, the benefits director for an organization with subsidiaries in the heavy construction equipment and services arena, distinctly remembers dreading open enrollment each year. It wasn’t a matter of if they were going to receive an increase; it was just a matter of how much. She describes the experience with the same old tired solutions as a “decade long hamster wheel and revolving door of shuffling carriers.” In 2010, her company was presented with a 26% rate increase on their fully insured health plan. Terrie and her CEO agreed they were not going to spend a penny more on a fully-insured plan and decided it was time to make a change. They moved their plan to self-funding, joined the Everlong Captive, and over time implemented wellness and disease management programs to reduce claims costs.

Ten years later, the organization AND the employees are both paying less for health care than in 2009. With the ability to manage healthcare spend and reduce costs, the company has been able to provide strong coverage while lowering employee premiums to the point where employee contribution for family coverage is $277 per month in 2019. They have also been able to provide additional benefits such as vision insurance at no cost to employees and their dependents, an annual contribution to employee Health Savings Accounts (HSA) of $1,000 minimum (up to $1,250), and a comprehensive wellness program which offers no cost annual biometric screenings to employees and their spouses.

As a result, health benefits have gone from an expensive burden to an excellent recruitment tool in a tight labor market. Terrie describes self-funding in the Everlong Captive a “game-changer” solution for her employer and the employees.

There is something employers can do about the never-ending increases in their group health insurance costs—something besides pushing those increases onto employees. Self-funding and joining a captive with sophisticated programs to control claims costs takes a little effort and a broker consultant who is innovative and competent, but the potential to significantly improve benefits with the same or sometimes less cost for the employees can be a competitive game-changer in a tight labor market.

Catch up on Part 1: From Hamster Wheel to Game-changer

Catch up on Part 2: Employer Health Care Benefits: There is a Better Way

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Employer Health Care Benefits: There is a Better Way

Employer Health Care Benefits: There is a Better Way

Most employers probably don’t regard charging employees more every year for health insurance as a competitive disadvantage because they believe—or have been misinformed by their broker-consultant—that everyone else is in the same situation. The truth is, there is a better way, and a growing number of employers are moving in that direction.

 

Self-Funding

The first step is for employers to move away from traditionally fully-insured medical plans and self-fund their health coverage. With self-funding, employers pay an administrative fee to have an insurer or TPA administer their health plan—deal with providers, claims, etc.—and a premium for stop-loss insurance to protect against really large claims costs.

The big difference is with self-funding employers pay their own claims. This means they get to see every claim and know exactly where every dollar is going. And they no longer pay the hefty margin above claims costs that carriers bake into their fully insured premium. Over a multi-year period, the savings are significant.

The icing on the cake is that self-funded plans are not subject to as many federal and state taxes, including the 2.7% Affordable Care Act Health Insurance Tax.

 

Group Medical Captive

While self-funding is an important first step, self-funding in a group medical captive with a sophisticated disease management program like Everlong Group Medical Captive Services takes cost saving to the next level.

Employers in Everlong get an extra level of protection against volatility and premium increases. Risk is pooled amongst captive members, thereby dampening volatility during high claim years and giving members the ability to have some of their stop-loss premium returned in good claims years. And Captive members enjoy the advantages of group purchasing power when buying stop-loss insurance.

The final advantage of self-funding in the Everlong Captive is its sophisticated programs to reduce health care claims costs. Since employers who self-fund their health plans pay their own claims, they reap all of the savings from reducing those costs. Everlong offers best-in-class claims cost-containment initiatives such as predictive modeling and health analytics tools, sophisticated disease management programs, and completely transparent pharmacy cost control resources.

Part 3: Game-changer’: How One Employer Got Off the Hamster Wheel

Catch up on Part 1: From Hamster Wheel to Game-changer

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