Renewals to Date
In Stop-Loss Premiums
Tactical Benefits Administration
Spherica brings innovation, integration and education to every client we serve. Since each client has unique needs and goals, our work is customized to each specific situation. Our initial goal for every organization is to place them in the most advantaged position possible today. Going forward, we will work together to improve your program year-after-year.
There is an old adage that states, “Everything is possible given enough time and money!” That is fine, but there is never enough time or money to overcome the inadequacies of the American health care system for those who remain status quo.
In business and life, there are limitations to an organization’s resources. We have created and fine-tuned processes that optimize the employer and member experience, while keeping your budget in check. We have proven that providing access to the highest level of health care available (providers and facilities) at appropriate pricing levels is the most cost-effective solution for companies. This becomes especially relevant when aligned with the knowledge and tools to use health care services wisely at the member level. Your benefits should be more than a component of your total rewards program; they should be woven into the fabric of your organization.
This is what we mean by being “tactical.” Implementing the process that returns value and improved outcomes for both employers and their people.
Our society is getting sicker, both physically and mentally. This decline has become worse nationally and in every region of the country. Since 2020, most employers have seen increased spending for medical care and pharma due to the detrimental effects of a more stressful environment. The health care delivery system is not financially sustainable because health insurance is focused on managing the impact of cost upon its subscribers, not on the root cause of excessive costs from disease and misuse of care.
The problem has two components — 1) People are experiencing too many claims due to risk and poor health; and 2) Patients (and their employers) are paying too much for care and drugs.
The reality for most employers is the same:
- Costs increase substantially and strain the budget.
- Insurance companies and brokers play an annual game of “cost mitigation” to reach an “acceptable” increase for the next twelve months — then “rinse and repeat” each year!
- This results in watered-down benefits (higher deductibles and out-of-pocket maximums).
- All involved are forced to tighten their belts with an “acceptable increase” that impacts both the employees’ and the employer’s budgets.
- The insurer and the broker are the only winners in this game.
- What does the employee see? I am paying more and getting less!
- The employer fails to realize the rewards that should result from one of its largest expenditures.
Work with us to build a benefits program and culture that are designed to improve the whole person. You invest a lot of time and money in your employees. Helping them become healthier, happier and more productive is great for business. Plus, it reinforces their satisfaction with your organization, and it is less costly to do it right than not!
We hear repeatedly, “How can we build a benefits program and culture that enhances our recruiting success, improves retention of talented employees and is sustainable year-after-year?” The answer is to give your people easier access to quality care, not less due to high premiums, deductibles and coinsurance. Give them the knowledge and tools to use their benefits in a cost-effective manner and become healthier in future years, not sicker and more strained in their budgeting. Reward good behavior with financial incentives.
Your Spherica consultant will spend time exploring what the ideal program looks like for your organization. Some components apply to every employer group; others are designed specifically with the unique needs of the people in mind. Either way, we will guide you to the optimal program to achieve your goals.
The Ultimate Solution
Spherica Employee Benefits is a core consultant partner with the most innovative, large-scale health benefits captive in the U.S. For those who qualify, we will show you a better way to provide the highest quality health care in a member-owned, multi-year program that can solve the frustrations of benefits financing for good. Better benefits in every aspect are within reach. If you have 50 full-time eligible employees, you should talk with our team as soon as possible. Contact us today at 801-446-2345 to discover what Spherica can do for you.
Achieving optimal results with your benefits program requires moving out of the “benefits brokerage” lane and into the realm of tactical benefits administration.
Spherica maintains integrated tactical partnerships with the finest healthcare captives, benefits administrators, stop-loss insurance companies and cost-containment programs, plus direct to physician access in multiple markets across the country. Our program provides our clients with the size and scale to achieve best-in-class benefits and superior cost containment through data driven analytics & decision making.
Let us show you the power of joining forces with other like-minded organizations within one of the finest member-owned cooperative insurance captives in the nation — here is where we are today … and growing!