Have you ever spent a fortune on training talented staff, only to have them jump ship for a tiny bump in salary? It’s beyond frustrating! High employee turnover is a chronic problem in the staffing industry, affecting big and small firms alike. We need a solution to attract and keep the best workers.
While there’s no magic bullet, Population Health Incentive Programs could be the answer you’re looking for. These programs can help you engage your employees, give them better access to quality healthcare and improve their health outcomes, all while reducing claims on your company’s health plan. The best part? We’re seeing a boost in employee satisfaction, talent retention and financial impact for both you and your staff!
So, what are Population Health Incentive plans? They’re a way to incentivize your employees to take an active role in their health. By providing unlimited zero co-pay 24/7/365 access to a dedicated primary care team, you can separate healthcare from health insurance and empower your staff to be proactive about their well-being. You’ll be shifting claims to the dedicated care team, which improves performance on your underlying health.
Plus, with premiums paid through a Qualified Section 125 on a pre-tax basis, you can reduce taxable income and payroll tax match for your company. And when your employees engage with the program each month, the underlying indemnity policy pays a post-tax claim that increases their take-home pay by 2-4%!
What’s more, each participating member gets a named physician, nurse and care navigator along with free prescription delivery right to their doorstep. All this is delivered through easy-to-use phone apps, so it’s convenient for everyone.
A recent Milliman study found impressive savings and improvements in health outcomes with virtual direct primary care, including a 24.33% decrease in inpatient hospital admissions and a 52.50% decrease in emergency room usage. With Population Health Incentive programs, you can eliminate cost as a barrier to entry for employers while creating a guaranteed fixed saving to offset the employer side spend. On average, these savings are a whopping $500-1000 annually per employee!
And the best part? These programs can be customized to fit your specific needs. Whether you need embedded workers’ compensation containment programs, workplace misconduct mitigation programs or an MEC plan, we’ve got you covered. Each component solves a problem for your employees and reduces risks for you.
In short, Population Health Incentive programs are a win-win for everyone. They offer immediate financial incentives and improved long-term health outcomes. Finally, there’s a sticky retainment option that allows you to do good for your employees and your company!