Health Rosetta Outlines Difference Between Status Quo Broker & New Age Broker

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Does this describe your broker? If so, you probably need to look for another one:

  • “Shops” the insurance every year
  • Facilitates insurance 1 year at a time
  • Believes costs are dependent on the best offer of the carrier
  • Gives limited data on where your money is going
  • Provides limited ways to control underlying costs
  • Doesn’t talk about their compensation or worse, is solely paid on commission, meaning more income the more rates go up
  • Advocates cost shifting in the form of increased deductibles and copays to lower the employer impact of premium increases
  • Blames costs exclusively on employee behavior and poor health

Or does this describe your broker/advisor? If so, take two aspirin, go to bed, and call the doctor:

  • Creates a 3-5 year plan
  • Brings transparency to where the money is going
  • Talks about their compensation and is willing to tie compensation to performance
  • Provides risk management to suit the needs of the business owner(s)
  • NEVER surprises with a “shock” renewal rate
  • Returns control over your costs to you
  • Bring the “benefit” of Benefits back to your business
  • Makes this a real attraction and retention tool
  • Understands improving benefits is the only way to lower costs
  • Provides detailed data driven analysis and actionable insight

The upcoming World Health Congress symposium in Washington DC will include a session Shaping Transparent Benefits Consulting beginning Sunday, April 30: Invitation to Join Broker and Benefit Executives.

What is the Health Rosetta?

The blueprint for high-performance health benefits. It’s a practical approach built on what successful purchasers do.

We drive its adoption by growing an emerging ecosystem. Think of us as the LEED ecosystem for investing in health benefits.

People

Benefits advisors, purchasers, topical experts, and others that drive costs and outcomes.

Products & Services

Health plans and plan components, tech & service providers, and caregivers.

Places

The physical places that drive costs and outcomes. E.g. communities, schools, and towns.

An evolving framework

We constantly improve the Health Rosetta to include more & better components, case studies, data, best practices, and solutions.

Expert sourced

We tap a large expert network to crowdsource the Health Rosetta. This lets us surface the best approaches everywhere.

Help grow the Health Rosetta

The foundational components – The big levers where most high-performers focus.

Value-based primary care

Properly incentivized primary care is the front line defense against downstream costs. View Component.

Benefits concierge services

Healthcare is complex, even for us. Employees need access to trusted, aligned resources to navigate this world. View Component.

Active ERISA plan mgmt.

We deeply manage budgets in every other area of spend. Why not health benefits? Internal fiduciary oversight is critical. View Checklist.

Transparent medical markets

Cost and quality are often inversely correlated in healthcare. Focusing on outcomes is the path to lower costs. View component.

Payment integrity

Ensuring claims are paid correctly and tackling fraud is step one to high-performance benefits.

Transparent pharmacy benefits

Purchasers need true transparency, the facts & data to control decision making. View Component.

Transparent advisor relationships

The benefits purchasing process should be transparent, based on disclosure, and aligned financial incentives. Learn about certification.

Major specialties & outliers

Cardiometabolic, musculoskeletal, and cancer. Catch it early, avoid unnecessary procedures, and get to high-quality providers when needed. Read essay.

How it compares to the status quo:


Health Rosetta Certified Benefits Advisors adhere to some key guiding principles:

  • Programs should do no harm
  • We resolve that brokers, consultants, and advisors should do no harm to employee health, corporate integrity, or employee/employer finances. Instead we will endeavor to support employee well-being for our customers, their employees and all program constituents.
  • Employee Benefits and Harm Avoidance
  • We will recommend doing programs with/for employees rather than to them, and will focus on promoting responsible practices for the health plans we serve.
  • Our choices of programs and strategies shall always prioritize best outcomes at the lowest cost, in that order, with a strong focus on the responsibility that an employer should provide affordable coverage for their employees while respecting the financial integrity of the business.
  • Respect for Corporate Integrity and Employee Privacy
  • We will not share employee-identifiable data with employers and will ensure that all protected health information (PHI) adheres to HIPAA regulations and any other applicable laws.
  • Commitment to Transparency
  • Our focus shall be to bring transparency to all levels of healthcare financing. From how we get paid, to how insurance companies and PBM’s get paid, and how providers get paid.
  • Commitment to Valid Outcomes Measurement
  • Our contractual language and outcomes reporting will be transparent and plausible. The end goal is to improve outcomes and quality of care while lowering costs and the ability to do this shall be measured and reported on in a valid, consistent and accountable format.

 

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