Health plan benefits are not like buying the sports package on a new car. When you bundle everything together – high performance tires, sunroof, heated seats – you save money versus buying each a la carte. Instead, what happens when you bundle healthcare – medical, Rx, dental, vision, etc. – you get some at a low cost, some in mid-range, and others at a considerably high cost. And because they are bundled, you don’t know what you are paying for each versus the open market.It’s true: one size does NOT fit all. You never see two companies with the exact same medical profiles and scenarios.
When You Unbundle You Invite Competition – Which is A Good Thing!
When you unbundle, you can choose the best vendors with the best services and the best rates.
It’s that simple. YOU decide which are the best vendors for your company based on factors like:
- Company size
- Overall employee profile
YOU can evaluate among three to four pharmaceutical plan vendors, among three to four dental plan vendors, etc. Not every vendor is going to be great across every type of plan. With unbundling, you pick the best of the best for YOUR COMPANY’S NEEDS.
- Prescriptions (Rx)
- Other voluntary benefits
The inconvenience of having separate cards for separate systems fades in comparison once employees recognize they could have lower deductibles and receive more value for each healthcare dollar spent. Companies that provide transparency about the cost savings for employer and employees alike have faster and stronger acceptance of multi-vendor/multi-card benefit plans.
To learn more about the benefits of self-funded healthcare plans, download our white paper Maximizing Your Company’s Self-Funded Healthcare Benefit Plan today.