Hannover Re’s Post

I've encountered this broken approach often, and it's time to address it. Employers with 50+ employees: A $5,000 or higher High Deductible Health Plan is not an effective recruitment tool, nor will it retain your key staff. Simply offering health insurance isn't enough to drive the growth your company aims for. Without a strategic approach to health insurance, HR and talent acquisition face constant challenges, turning your company into a revolving door for employees. What if you could offer an affordable benefits package that attracts skilled employees to your organization? Imagine this: ✅ First dollar health benefits ✅ Free primary care for employees and their dependents ✅ A transparent health plan that helps both employees and the company save money using preferred providers Investing in a well-thought-out health insurance strategy can make all the difference. #HR #CFO #CEO #AttractandRetain

HR's strategic role in 2025: C-suite executives increasingly rely on HR for leadership, recognizing its pivotal role in organizational success. Suppose you could help C-suite executives with controlling health insurance expenses. It's all about change management. That change can reduce costs, give more options to your employees, and take the employer out of the health insurance business. Moving to an ICHRA (individual coverage health reimbursement arrangement) model employees own their health insurance, which makes sense for businesses. Each employee gets an employer-set allowance each month, it's non-taxed income. Employers still control the money but are no longer involved with the insurance selection process. Let's talk about how to implement a successful ICHRA, the Leeway team can be the key to your success. Click here for a quick call: https://lnkd.in/errsXuE4

Attract Top Talent & Boost Morale, Why "Group Health Insurance" is a Smart Investment. Employees value a secure and healthy work environment. Offering group health insurance shows you care about their well-being, attracting and retaining top performer. Stronger Employer Brand👉Health insurance is a sought-after benefit. By providing it, you stand out as an employer who prioritizes employee well-being. This can give you a competitive edge in a tight job market. Happier & Healthier Employees👉 Financial security in healthcare reduces employee stress and improves morale. This leads to higher productivity and less absenteeism. Cost Savings👉 Group plans often offer lower premiums compared to individual plans. Plus, you can deduct the premiums as a business expense, reducing your tax burden. Tax Advantages: In many countries, there are tax benefits for companies offering group health insurance. Investing in employee health is an investment in your company's success. #employerbenefits #healthinsurance #talentattraction

Can business model innovation in insurance markets fix American healthcare? Kudos to Ann-Somers Hogg of the THE CLAYTON CHRISTENSEN INSTITUTE FOR DISRUPTIVE INNOVATION taking a credible stab at this question (see her detailed proposal in the link). What I like here: 1. She describes the broken market as a structural problem rather than blaming individuals or companies. 2. She explains how the market dysfunction goes beyond simply misaligned incentives. Specifically, there are also weak competitive forces (e.g. entrenched monopolies) and poor transparency to buyers (esp. employers/sponsors). 3. She describes how a number of well-funded healthcare business model innovations have failed to create new/viable value networks for sustainability. What I disagree with: 1. She takes for granted the role of insurance companies as primary managers of care quality. Insurers are good at actuarial functions, not healthcare delivery. Blurring those lines (e.g. HMOs) just creates new problems due to vertical integration. 2. She doesn't fully come to grips with the fact that disruption almost always starts small, yet the insurance industry by necessity functions at a massive scale. My personal belief is that disruption needs to be driven by the provider side rather than the insurer side. If a smart combination of insurance regulations could just break the stranglehold of the current value network, then direct pay models are poised to scale nationally and disrupt the insurance-dependent mega-health systems. But those are just my opinions. What do you think? #hippocraticcapitalism #ethicalhealthcare #healthinsurancef #disruptiveinnovation

Why Day-One Company Benefits Matter Recently, a conversation with a candidate highlighted a problem: waiting periods for benefits. While many companies offer health insurance as part of their benefits package, there's often a 3-6 month wait before it kicks in. This might seem like a minor detail, but for some candidates, it can be a major barrier. Consider this: The candidate I spoke with relied on company-provided health insurance for a critical medication. A waiting period could have meant a lapse in coverage and potentially high medication costs. This isn't an isolated case. Many people rely on employer insurance, and a wait can cause significant financial hardship, especially for those with ongoing medical needs. Day-One benefits demonstrate a commitment to employee well-being and can be a powerful differentiator in today's competitive talent market. #companybenefits #attractingtalent #insurance #medicalinsurance #recruitment #pharmacystaffing

Health insurers play a central role in the Swiss healthcare system, bearing a significant responsibility for the smooth processing of insurance benefits. An efficient and precise back-office operation is critical in this regard. The following three challenges highlight the complexity of back-office activities in the health insurance sector: ✅ High Volume & Tight Deadlines: Health insurance back-offices handle a tremendous volume of daily tasks, including processing applications, invoices, and benefit claims. Strict deadlines and regulatory requirements necessitate high work speed and accuracy. ✅ Process Complexity: Administering insurance benefits involves numerous regulations, forms, and interfaces with external partners. This demands a deep understanding of the subject matter and the ability to manage complex processes efficiently. ✅ Growing Digitalization Demands: Digitalization is transforming health insurance back-offices. Implementing new systems, utilizing digital workflows, and processing electronic data necessitate continuous adaptation and development. Overcoming these challenges requires innovative solutions and dedicated employees. 📈 Tessi offers comprehensive back-office support to health insurers, ensuring a smooth and efficient handling of insurance benefits. 📌 Contact us to learn how we can help you conquer back-office challenges in the health insurance industry. #HealthInsurance #BackOffice #Challenges #Digitalization #Innovation #Efficiency #Tessi

💡 𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝗳𝗿𝗮𝘂𝗱 𝗶𝘀 𝗵𝗶𝗱𝗱𝗲𝗻 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗵𝗲𝗮𝗹𝘁𝗵 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗽𝗹𝗮𝗻? Fraud, waste, and abuse in the healthcare system cost employers millions annually. Still, many employers press the "easy button" on managing their health insurance budget, overlooking opportunities to expose hidden costs and redirect premiums back into their own budgets. Many employers are looking to increase cash flow. Many times, the solution is right under their nose. 🔍 Here’s how to uncover fraud and control costs: * Audit your claims and billing processes for inconsistencies. * Educate employees on how to navigate health care effectively. * Use transparent and accountable plan designs to expose hidden costs. 📌 Key Takeaways for HR and CFOs managing health insurance budgets: * Educating employees on benefits utilization can save money and improve satisfaction. * Regular audits of claims and pharmacy contracts can uncover inflated costs. *Providing tools and resources to employees empowers them to fight unfair billing practices. By taking these steps, employers can reduce waste and redirect dollars into meaningful investments for their teams. P.S. Many of these topics are in memory of Marshall Allen and his impactful book, “N𝘦𝘷𝘦𝘳 𝘗𝘢𝘺 𝘵𝘩𝘦 𝘍𝘪𝘳𝘴𝘵 𝘉𝘪𝘭𝘭: 𝘈𝘯𝘥 𝘖𝘵𝘩𝘦𝘳 𝘞𝘢𝘺𝘴 𝘵𝘰 𝘍𝘪𝘨𝘩𝘵 𝘵𝘩𝘦 𝘏𝘦𝘢𝘭𝘵𝘩 𝘊𝘢𝘳𝘦 𝘚𝘺𝘴𝘵𝘦𝘮 𝘢𝘯𝘥 𝘞𝘪𝘯.” 👉 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘆𝗼𝘂 𝗱𝗼𝗶𝗻𝗴 𝘁𝗼 𝗶𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝗮𝗻𝗱 𝗿𝗲𝗱𝘂𝗰𝗲 𝗵𝗶𝗱𝗱𝗲𝗻 𝗵𝗲𝗮𝗹𝘁𝗵 𝗰𝗮𝗿𝗲 𝗰𝗼𝘀𝘁𝘀? 𝗟𝗲𝘁’𝘀 𝗰𝗼𝗻𝗻𝗲𝗰𝘁 𝗮𝗻𝗱 𝗱𝗶𝘀𝗰𝘂𝘀𝘀 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀. #HealthCareTransparency #EmployeeBenefits #CFO #CHRO #HR #Totalrewards #CPO #CEO

💡 𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝗳𝗿𝗮𝘂𝗱 𝗶𝘀 𝗵𝗶𝗱𝗱𝗲𝗻 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗵𝗲𝗮𝗹𝘁𝗵 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗽𝗹𝗮𝗻? Fraud, waste, and abuse in the healthcare system cost employers millions annually. Still, many employers press the "easy button" on managing their health insurance budget, overlooking opportunities to expose hidden costs and redirect premiums back into their own budgets. Many employers are looking to increase cash flow. Many times, the solution is right under their nose. 🔍 Here’s how to uncover fraud and control costs: * Audit your claims and billing processes for inconsistencies. * Educate employees on how to navigate health care effectively. * Use transparent and accountable plan designs to expose hidden costs. 📌 Key Takeaways for HR and CFOs managing health insurance budgets: * Educating employees on benefits utilization can save money and improve satisfaction. * Regular audits of claims and pharmacy contracts can uncover inflated costs. *Providing tools and resources to employees empowers them to fight unfair billing practices. By taking these steps, employers can reduce waste and redirect dollars into meaningful investments for their teams. P.S. Many of these topics are in memory of Marshall Allen and his impactful book, “N𝘦𝘷𝘦𝘳 𝘗𝘢𝘺 𝘵𝘩𝘦 𝘍𝘪𝘳𝘴𝘵 𝘉𝘪𝘭𝘭: 𝘈𝘯𝘥 𝘖𝘵𝘩𝘦𝘳 𝘞𝘢𝘺𝘴 𝘵𝘰 𝘍𝘪𝘨𝘩𝘵 𝘵𝘩𝘦 𝘏𝘦𝘢𝘭𝘵𝘩 𝘊𝘢𝘳𝘦 𝘚𝘺𝘴𝘵𝘦𝘮 𝘢𝘯𝘥 𝘞𝘪𝘯.” 👉 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘆𝗼𝘂 𝗱𝗼𝗶𝗻𝗴 𝘁𝗼 𝗶𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝗮𝗻𝗱 𝗿𝗲𝗱𝘂𝗰𝗲 𝗵𝗶𝗱𝗱𝗲𝗻 𝗵𝗲𝗮𝗹𝘁𝗵 𝗰𝗮𝗿𝗲 𝗰𝗼𝘀𝘁𝘀? 𝗟𝗲𝘁’𝘀 𝗰𝗼𝗻𝗻𝗲𝗰𝘁 𝗮𝗻𝗱 𝗱𝗶𝘀𝗰𝘂𝘀𝘀 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀. #HealthCareTransparency #EmployeeBenefits #CFO #CHRO #HR #Totalrewards #CPO #CEO

The rising cost of employee benefits, especially health insurance, is a challenge for businesses, with employer costs increasing every year. . . ➡ Small and mid-sized companies are hit harder, often paying more than larger firms due to limited negotiating power. However, partnering with a Professional Employer Organization (PEO) can help. PEOs not only manage employee benefits, but they also negotiate better rates, handle administrative tasks, and provide wellness programs to reduce long-term costs. If you’re struggling with rising benefits costs, a PEO might be the solution to protect your bottom line. #PEO #EmployeeBenefits #BusinessCostControl #HRSolutions

Narrow network plans are becoming increasingly popular as insurance providers seek to reduce costs for both businesses and members. According to Mercer, 24% of large employers (those with 500 or more employees) now offer a medical plan option with a High-Performance Network curated by a carrier. This strategy helps manage costs without shifting them to employees, addressing concerns about affordability and the tight labor market. Carriers highlight the benefits of Narrow Network plans, such as enhanced doctor-patient relationships and a simpler experience facilitated by technology. TytoCare’s Home Smart Clinic solution has significantly contributed to the success of UnitedHealthcare's SignatureValue Harmony plan in California. Now, Home Smart Clinic is also available to Michigan employers through Priority Health's PriorityIntegra offering. PriorityIntegra is a concierge-like experience for members and access to Corewell Health providers and select affiliates. “This new solution takes advantage of our special strengths as the largest health system in the state to provide an excellent experience that focuses on whole-person care and delivery through a dependable network,” said Rick Abbott, senior vice president of employer solutions at Priority Health. https://lnkd.in/eXVCQsdb