When we originally started looking at Well Health four years ago, it was a way to save money for the company. Now we look at it to help our employees be healthier and happier. A price tag cannot be put on what we learn from our fellow Well Health members.
Well Health has changed the way we approach Health Care. Through the programs and interactions with other like-minded companies we have instituted each employee knowing their numbers, rebates to employees for finding incorrect billings, changing the way Blue Cross bills, achieved significant generic drug adoption and many other programs...
Our company was able to reinvest our savings in stop loss premiums to help fund a new Wellness program. Now, two years in a row we have experienced a reduction in total medical plan costs. While we can’t specifically connect the dots directly from reduced costs to a Wellness program to our reinvestment of savings, we are very confident the newly reinvigorated emphasis on a healthier workforce has absolutely driven healthier individual behavior.
As the CFO for my company, cost efficiency is one of my primary responsibilities. Well Health has allowed me to finally control my company's health insurance costs. In the time my company has been a member of Well Health, we've saved nearly half a million dollars per year! These savings have allowed me to pass on lower premium contributions from my employees. The information and tools provided by my fellow Well Health partners has been invaluable. Everyone is very helpful and willing to share ideas. I have used some of their experiences to tailor my health insurance plan for the greatest benefit of my employees and my company. I only see my relationship with my Well Health partners growing stronger every year. In addition, the annual board meetings and workshops provided education on current trends and ideas in the health care industry. With the ever changing health care environment, these gatherings always give me new ideas that I bring back to my company for the benefit of my employees and the company.
..where does one get and stay educated upon the latest strategies for decreasing your company's overall healthcare spend, and what measures effecting your company's health plan will pay dividends in the long run? The answer for my company is Well Health Insurance, LTD. ... Joining Well Health can be like drinking from a fire hose, as you tap into the collective knowledge of other member/shareholders to uncover so many ways to improve and transform your company's health plan and lower pan costs. In fact, Well Health is an innovation factory, thanks to the strong individual involvement by its members/shareholders. Well Health shines because, one size was never intended to fit all. Well Health's flexibility allows different companies to run very different programs and pursue very different initiatives...(Members) are exposed to and can choose from a vast array of initiatives and programs allowing them to proceed at their own pace with innovations to their company's health plan. What all members/shareholders have in common is that we are all interested in the risk/reward mechanism that is provided by all group captive insurance companies - if your plan's experience supports it, earn a dividend. In a bad year, pay an assessment. All member/shareholders are committed to evolving their health plans to keep employees healthy and spending healthcare dollars wisely. All to control what may at first seem uncontrollable – your company's overall health care spend.