When Insurance is like a Hamster Wheel

Katelyn Noschese Business Insurance, Group Benefits Leave a Comment

What is the hamster wheel of insurance?

Picture this: For years, you have strived to own a business or work your career to the point where you are a decision-maker.  You make big decisions like company growth, hiring, firing, strategy, and even what healthcare plan to offer your employees.  You do your best to make your healthcare decision.  Year after year, you sit with your consultant and decide; maybe you raise a deductible here, change a copayment there, and that is your idea of mitigating your increase. You, my friend, are in the Hamster Wheel of the Insurance World.

What if we told you there were other options that you probably haven’t heard of?  Or maybe it is just that your consultant doesn’t have the time to show you or because your day-to-day consultants’ boss feels it’s just too much work?  What if we told you the market was changing, and you are not being shown every option? It is time to take a deeper dive into the world of Employee Benefits.

Is your consultant doing their best for you?

Here at Deland Gibson, we challenge all our clients to think outside the box.  Allow us the opportunity to show you what else is out there.  Most consultants show you the easiest option by increasing a deductible or tweaking a copayment but is that making you or your staff an educated consumer of healthcare.

What are your opportunities?

If you are in the 50-99 space, do you know you have the chance to be self-funded or partially self-funded and even pick your own Pharmacy Benefit Manager?  Never heard of a PMB? Call us! We all know that pharmacy, especially specialty pharmacy, is a significant driver in our healthcare system.  But what if you can shop and see what PBM would work?  You probably have all heard of an HRA, but have you ever heard of an employer and employee-funded HRA? We have, and it lowers your cost and gives you the same level of claims detail.  Maybe it is a fit for you, and perhaps it’s not but shouldn’t your consultant be showing it to you?  Take a deeper dive and ask yourself, has your consultant even discussed an ICHRA?  Don’t you deserve to know what that is?  Isn’t your consultant’s job to show you all options?

The Hamster Wheel
The Hamster Wheel of Insurance

If you are in the under 50 space, do you know there are multiple ways to lower your fixed cost and keep benefits the same?   Most brokers/consultants aren’t showing you everything that is available to you.  Under 50, your rates and plans are filed with the DOI but do you do a planning meeting prior to renewal?  If you are over 100, have you reviewed a concierge level provider like Touchcare, Accolade, or Quantum that can help you with administration, education and help your employees make intelligent decisions?  Deland Gibson focuses on innovation; we look at each client individually and bring vendors to the table that will help you build a culture around benefits, build consumerism allowing you to retain and attract employees while at the same time reducing the things that distract them from 9-5 making them more productive employees and therefore making your company more efficient.

Many things need fixing in healthcare; that process will take a long time, but picking the right consultant can be an easy, quick decision.

Who can I call at Deland, Gibson?

Deland, Gibson is here to help! Contact our Director of Employee Benefits with any questions:

Paul Lunn; plunn@delandgibson.com; 781-239-7639

About Deland, Gibson Insurance

Connect with your D,G advisor for more information. Deland, Gibson Insurance, helps you organize and identify risk. We also are risk advisors and insurance managers. Deland, Gibson now has locations in Wellesley, Dennis Port, and Franklin, MA. D,G is also more sector-focused. With over $80,000,000 of written premiums, the agency looks to continue fulfilling our mission as a client advocate Providing Peace of Mind Through Proactive Service.

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