An east coast insurance brokerage has announced they are now “certified” to market reference based pricing strategies. We find this curious. How does one get “certified?” So we decided to memorialize the process here.
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BBG Announces Reference Based Pricing Certification
March 7, 2018
The Business Benefits Group (BBG) has just announced that they are now an approved agency for Reference Based Pricing (RBP). This makes them the first agency in the National Capital Region certified to deliver RBP plans and allows them to create new solutions for their clients through their partner network.
RBP is the answer to rising costs in healthcare, aimed at significantly lowering the pricing of company needed healthcare. Employers will set a pricing cap for the maximum amount for healthcare coverage, relative to Medicare, allowing them to save money in the long run. BBG’s COO Brandon Downs commented that, “We see a strong future with Reference Based plans in the health insurance market. Our clients with self-funded plans are looking at RBP as an exciting tool to go outside of traditional network negotiations and directly attack the true cost of billed charges.” BBG hopes to use RBP to further connections in the healthcare system while maintaining low costs for their clients.
BBG plans to educate their clients on RBP, allowing them to fully understand the change that is taking place within their company. This also allows them to look at more options for their healthcare coverage plans while saving money. “We see this as a core commitment we need to make to clients to at least offer the education on these innovative solutions,” says Derek Winn, BBG’s Director of Sales, “Staying the course could still be the best option for some clients, but for those looking to take control, we have some innovative means to do so.” In educating their clients in RBP, they hope to at least let them know if the benefits to RBP.
Michelle Milam, BBG’s Director of HR Services voices the need for education as a “fiduciary responsibility of Employers.” She continued that, “No longer should employers take a renewal at face value. BBG will always be here to support clients with fully insured models, but for those looking to peel back the layers of the onion and be an agent of change may see a brighter future.”
BBG will ensure that the new changes will affect their clients positively as they use the new certification to allow them to change their current strategies. More information will be known at a seminar that BBG is holding in order to fully understand what RBP is and how it affects the company and their clients.
BBG is brokerage company located in Northern Virginia, extending throughout the region and even into Washington DC. The services they hold range from health care to business insurance. Their goal is to help businesses and employees to get the coverage they need through the various programs they offer. For more information, please contact firstname.lastname@example.org. You can also visit them at 4069 Chain Bridge Road, Top Floor, Fairfax, VA 22030 or call (844) 201-3609.