Wellness Budgeting, Simplified
Is finding money in your budget to implement programs that positively impact your employees a challenge each year? Do you know where carrier “Wellness Dollars” come from?
Our experts have a few recommendations on how to be creative when working with carriers, brokers or stop-loss insurance companies to cover the cost of wellbeing programs or population health management tools.
1. Do you see a wellness program fee already built directly into your Administrative Service Only (ASO) fee?
First off, if you are only seeing a composite rate, then ask for an itemized breakout. Secondly, the “wellness program fee” is usually an internal wellness program (as opposed to a third-party program of your choosing) that may have very low utilization numbers. When looking at your ASO, be sure to understand the details of every line item and, if you’re not using something or are unhappy with the program, ask for reimbursement to pay for a different program of your choosing.
2. How can you get reimbursed for these fees from your medical carrier?
If your company is self-funded, most carriers are willing to reimburse any fees for a compliant program. Or you could ask them to “carve it out” so you have reduced your ASO fee. If you need help, let us know.
3. Is custom reporting included in what you’re getting from your medical carrier?
Custom reporting (the data and analytics behind the money being spent that allows you to optimize your healthcare value) isn’t frequently included in your base medical carrier fee. Rather, basic reporting is including – reporting that doesn’t let you focus in on specific diseases and problems. If you’re choosing a wellbeing program vendor that already includes these custom reports, you can save money by not paying that same amount to your carrier.
Not only is our team passionate about improving the population health of your employees, we’re willing and able to help you find ways to make putting our programs into practice a reality.
To learn more about any of the ideas mentioned above, how DHS Group's wellbeing and data analytics programs can better your company’s population health and more click the button below to chat with a Business Development Manager.