We completed a review for 2 of our recently acquired clients yesterday. In both cases –
· The group’s benefits did not change
· Access to the same doctors did not change
· The employee’s cost of participation did not change but the manner in which the group used insurance, medical, pharmacy and administrative services charged.
Previously, both of these groups’ plans were in a nationwide consortium governed by a centralized umbrella for approximately 200 groups in their particular industry managed and insured by one of the large health insurance companies. Here are the results so far –
Group #1
Carrier: United Healthcare
Employees: 95
ECCHIC program start date: 1/1/2024
Funding budget based on previous 2023 United Healthcare pricing: $171,000/mo.
Premium that would have been paid to United Healthcare from 1/1/2024 – 4/30/2024: $171,000 x 4 months ($684,000)
Actual cost from 1/1/2024 – 4/30/2024 for this group with our ECCHIC program for the same exact benefits: $425,000.
Saving to date: $259,000
They would have paid United Healthcare $254,000 more for exactly the same thing without having any information about real costs whatsoever.
Group #2
Carrier: Blue Cross
Employees: 71
ECCHIC program start date: 7/1/2023
Funding budget based on 2022 Blue Cross premium level. That is not a misprint. We reverted to their 2022 premium level as the benchmark funding level – eliminating the increase for 2023 dictated by Blue Cross. $138,000/mo.
Premium that would have been paid to Blue Cross from 1/7/2024-4/30/2024: $1,380,000 (which doesn’t even take into account the increase that they would have received on 1/1/2024)
Actual cost from 1/7/2024-4/30/2024 for their group with the ECCHIC plan for the exact same benefits: $1,210,000.
Savings to date: $170,000. They would have paid Blue Cross $170,000 more for exactly the same thing without having any information whatsoever about real costs.
Going forward, upon renewal in both cases, they will be able to keep their funding budget level unchanged all the way around. This is the type of result that has been achieved for every group that we have had the privilege and opportunity to work with. We can do this for any group struggling with strangulating premiums and insurance company control of medical service access. Give me a call at 314-997-8865 or join our upcoming informational webinar on May 22nd at 9:00 AM CST to learn more. Registration is free at www.ecchic.com/events/
The Ecchic Group
Health Policy Nerd | Lifelong Learner | Advocate for a better US health system from coverage to cost of care | INTP
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