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Innovative ideas from Benicomp to help understand your group's risk and opportunity to save money all while improving the plan design for your members. With 96% participation, Incenticare has proven to engage your employees and focus attention on where you can make an impact to save lives. With the added "Mindset" component, you can improve everyone's wellbeing and solve for the rising mental health demand. 

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Written by Dennis Hartin, Hartin Dynamics

Tampa BeniComp Team Office of Innovation and Product Development

One of the best kept secrets in the Tampa Bay area may very well be our friends at Benicomp. They consider themselves a technology company with software to run high-performance self-funded employee benefits plans. As a TPA, they are focused on building a system that empowers employers to bring the best healthcare to their employees.

Much thanks to Francisco Oller Garcia and Kieran Pittman for sharing their insights and innovative ideas from Benicomp Health Solutions. Their team helps employers to help understand their group’s risk and find opportunities to save money all while improving the plan design for members. With 96% participation, their Incenticare soltuion has proven to engage employees and focus attention on where you can make an impact to save lives. With the added “Mindset” component, you can improve everyone’s well-being and solve for the rising mental health demand.

In this video, the Benicomp teams shares some positive things they are hearing from their clients during the COVID-19 crisis. They talk about how companies are reassessing their needs, re-purposing their business model or value proposition, using funds to help the community, and shifting focus to financial management. As Kieran explains, “We all have an opportunity to reflect and plan, while looking out for the best interests of their employees.”

Click here to read the full article

MyHealthGuide Source: BeniComp, 4/30/2020

BeniComp Health Solutions announces the launch of IncentiCare. This self-funded product changes the way employers and their members utilize health insurance by controlling not only cost, but the underlying cause of expenses.

“Using data and technology to identify risks and opportunities early, we can prevent and reverse the chronic conditions that make up over 75% of healthcare spending.” Said Kieran Pittman, BeniComp’s Director of Strategic Growth. “Everyone was going around trying to offer employers the best discounts and price negotiations, but no one was looking at what was causing claims in the first place. That’s where BeniComp found it’s differentiator.”

With outcome-based, deductible incentives, BeniComp motivates 96% participation in annual health screenings which includes a full chem-17 blood screening. With 96% of a population's blood data and 100% of their claims data, this innovative TPA has found a niche in identifying the underlying health risks in a population and empowering at risk individuals with data, tools, and advocacy so they can take control of their health.

“Data is essential in determining a health strategy for a population. Health insurance is not a one-size-fits-all blanket solution. We really have to understand what is going on inside of a population to be able to offer the best cost and cause containment solutions,” explains Pittman.

BeniComp’s innovative approach to self-funding bridges the gap between historic and modern while looking toward the future. Established in 1962, this 50 state TPA brings together a team of insurance professionals, health professionals, and software developers to custom build a state-of-the-art tech platform, Pulse, used to manage the health and insurance plan of entire populations.

Pulse’s open-architecture style allows all cost-containment vendors to plug-and-play based on a population's needs and includes all of the features a TPA, broker, employer, or participant would need to manage plans, payments, data reports, and more.

“IncentiCare is the best kept secret in the industry,” Pittman remarks. “We want employers to know that they don’t have to settle with high-cost, low-value plans. There are solutions out there that can improve health plans from the inside out by helping employees sustain healthy lifestyles and customizing cost savings strategies. In this way, employers will save not only 25-35% year one, but will continue to see their expenses decrease year over year as their health plan grows stronger and stronger in its ability to predict and prevent financial and health risks.”

Click here to read the full article on MyHealthGuide

MyHealthGuide Source: BeniComp, 4/30/2020

BeniComp Health Solutions announces the launch of IncentiCare. This self-funded product changes the way employers and their members utilize health insurance by controlling not only cost, but the underlying cause of expenses.

“Using data and technology to identify risks and opportunities early, we can prevent and reverse the chronic conditions that make up over 75% of healthcare spending.” Said Kieran Pittman, BeniComp’s Director of Strategic Growth. “Everyone was going around trying to offer employers the best discounts and price negotiations, but no one was looking at what was causing claims in the first place. That’s where BeniComp found it’s differentiator.”

With outcome-based, deductible incentives, BeniComp motivates 96% participation in annual health screenings which includes a full chem-17 blood screening. With 96% of a population's blood data and 100% of their claims data, this innovative TPA has found a niche in identifying the underlying health risks in a population and empowering at risk individuals with data, tools, and advocacy so they can take control of their health.

“Data is essential in determining a health strategy for a population. Health insurance is not a one-size-fits-all blanket solution. We really have to understand what is going on inside of a population to be able to offer the best cost and cause containment solutions,” explains Pittman.

BeniComp’s innovative approach to self-funding bridges the gap between historic and modern while looking toward the future. Established in 1962, this 50 state TPA brings together a team of insurance professionals, health professionals, and software developers to custom build a state-of-the-art tech platform, Pulse, used to manage the health and insurance plan of entire populations.

Pulse’s open-architecture style allows all cost-containment vendors to plug-and-play based on a population's needs and includes all of the features a TPA, broker, employer, or participant would need to manage plans, payments, data reports, and more.

“IncentiCare is the best kept secret in the industry,” Pittman remarks. “We want employers to know that they don’t have to settle with high-cost, low-value plans. There are solutions out there that can improve health plans from the inside out by helping employees sustain healthy lifestyles and customizing cost savings strategies. In this way, employers will save not only 25-35% year one, but will continue to see their expenses decrease year over year as their health plan grows stronger and stronger in its ability to predict and prevent financial and health risks.”

Click here to read the full article on MyHealthGuide

LEFT Steve Presser President COO RIGHT Doug Short CEO

Written by By Sharael Kolberg, California Business Journal

 

By using prediction, prevention, and industry-leading technology – which rewards participants by lowering their health insurance deductibles — BeniComp Health Solutions is preventing — or in some cases reversing — chronic health conditions while simultaneously saving potentially thousands of dollars on health insurance.

“BeniComp is addressing two of the biggest challenges in the industry: skyrocketing healthcare costs and the prevalence of chronic disease,” says Steve Presser, president and COO. “By providing organizations with inventive solutions to sustain the health of the workforce and drive cost savings, we are taking health insurance where it has never gone before.

“There are a lot of companies in our space, but there is absolutely no one doing what we are doing.”

BeniComp’s core focus is Preventive Health Management (PHM), which uses innovative health technology and health professionals to put information into the hands of participating employees and spouses and provides tools to accomplish lifestyle changes to improve their health.

“We empower people with their own data,” Presser says. “The rest of the industry is focused on cost; we are focused on cause. What is the root cause of the claims and the health of the employees? We can lower healthcare costs based on actual data.”

BeniComp’s IncentiCare program is a self-funded health plan solution that helps company’s employees save money. Through the program, “employees are able to earn thousands of dollars toward lower deductibles by participating in an annual health screening and meeting screening goals. This option doesn’t exist in any other insurance product,” Presser says.

Competitors do not offer it, Presser says, because health insurance industry “has been the same for years and years and years. When companies become so big, it becomes difficult to be creative or pivot.”

Click here to read full article

Written by Sarah Marshall, Grit Daily

 

team photo grit daily

 

While most businesses have shuttered due to the coronavirus outbreak, some were strategically ready for this moment in history. Instead of laying off workers, they’re hiring; instead of stopping production, they’re ramping up. Papa Johns announced that it would hire 20,000 more employees, and Alphabet and Facebook will indeed come out of the pandemic stronger. Technology companies that already had digital operations are weathering the coronavirus storm just fine, even expanding. BeniComp Health Solutions is such a company. Their president, Steve Presser says, “We were uniquely positioned for something like this.”

Click here to read the full story

1090 steve and doug

Summary

  • Doug Short (40-year President & CEO) names Steve Presser (COO & CSO) the new President of BeniComp Health Solutions.
  • Presser announces and affirms the direction of the company’s future with a heavy focus on the development of Pulse technology to help employers manage the health of their population.
  • In the last 5 years, internal technology has led to areas of the business becoming 90% more efficient, allowing for the company to reinvest millions in software development and their growing innovation team.

 

January 1, 2020-- Doug Short (40-year President & CEO) announced the transition of his role at BeniComp Health Solutions. He passed the torch to Steve Presser (5 year COO & CSO and long term business partner) who is now officially the new President & COO of this innovative, 58-year-old start-up. With Presser at the wheel, Short takes a step up to focus on how BeniComp fits into the bigger picture of society at large.

 

“Through life and business, I have seen that it takes courage. Courage to dream, to lead, to innovate, and courage to stand when others fall. It takes courage to follow and courage to support, but it also takes courage to step aside” - Doug Short, CEO

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Published by Grit Daily, Written by Sarah Marshall click here for the original article

Kelsey White Preventive Health Education writing on whiteboard

Ask any foreigner what they think of America’s healthcare system; you’ll hear words like “strange” and “dysfunctional”.  Healthcare in the US currently fosters a type of willful ignorance around knowing the state of one’s physical wellbeing. Benicomp, a healthcare company based out of Tampa, is taking a ‘knowledge is power’ approach to healthcare, and using technology to do so.

 

The Centers for Disease Control and Prevention (CDC) shared a peer-reviewed article stating that, “Underutilization of preventive services is largely the result of an implementation gap rather than an information gap; in other words, providers do not prioritize preventive care services although they know that preventive services can reduce the incidence and burden of chronic diseases.”

 

Says Benicomp President Steve Presser, “Right now people are so scared to use the system that when they feel something going on inside them they wait and wait, and things are getting worse in this interim period,” so instead, Benicomp rewards patients for getting blood screenings by using “outcome-based deductible incentives”.

 

This means that before a blood screen, their deductible is capped, and if they get a positive result, their deductible may be lowered, which incentivizes people to get their annual blood screen. He pointed to the blood chart of a typical healthcare company’s population, with 30% participation. The results looked positive, with barely any diabetics or pre-diabetics. Then he pointed to Benicomp’s chart, with a whopping 96% participation.

 

The results did not show greater overall health of the population, but painted a more accurate picture of the risks that patients were facing. The company’s web application, Pulse, helps patients keep track of test results and appointments, and allows them to talk to a healthcare professional about what they can do to maintain or improve their health, and where they should go for certain procedures. This is a radical, yet inevitable approach. Rural areas are seeing healthcare access diminish greatly, as doctors and clinics close for lack of patients and resources. Online assistance with medical diagnoses and procedures is the foreseeable next step in healthcare access.

 

Presidential candidates on either side of the aisle talk about the issue of healthcare so passionately because it affects so much of the electorate; it’s a game changer because in some instances, people’s lives are on the line. The complexity of the issue makes a one-solution-fits-all approach appealing to many. Mr. Presser acknowledged that The Affordable Care Act did some great things; making sure that patients were not refused by insurers for having preexisting conditions, and removed caps for limited coverage; he also acknowledged that it came with a high price tag.

 

Policy changes can create volatility for healthcare companies, but Benicomp is confident in its structure. Their size as well as their push toward technological advances to streamline communication with patient populations gives them a certain level of flexibility. This is essential for success – flexibility, because if a new era of healthcare is imminent, patients need to trust the institutions ushering it in.

 

About the author

Sarah Marshall is a Columnist at Grit Daily. Based in Florida, she covers events related to regional economic growth, politics, and the environment. Sarah writes an environmental column for The Muslim News, and curates a blog that showcases her travels through Asia.

 

by Alexandra Goebel

  • Local health-tech company launches a new initiative that disrupts the $3.65 trillion healthcare industry
  • Unheard of participation in annual health screenings and data analysis making headway in the insurance space to predict and prevent health problem
  • BeniComp leverages preventive health management to end the chronic disease epidemic and reduce healthcare expenses

“The future of healthcare is a health solution.” Doug Short, CEO (BeniComp)

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Alexandra Goebel, Community Outreach Specialist

On Monday, June 24, 2019, President Trump signed an executive order requiring hospitals, providers, and insurance companies to publicly disclose their pricing structures for health care services. The purpose of the executive order is to introduce price transparency, quality care, and all-around affordability into the health care system. Trump expresses the importance of revealing this information “in a way that's clear, straightforward, and accessible to all."

“For too long it's been virtually impossible for Americans to know the real price and quality of healthcare services… With today's historic action, we are fundamentally changing the nature of the healthcare marketplace. We will empower patients with the information they need to search for the lowest cost and the highest quality care. In other words, they will be able to seek out... the doctor they want and they will be given vast amounts of information about those doctors.” - President Donald Trump

Details regarding the executive order have yet to be clearly agreed upon and defined. According to various sources they will be released over the next few months. The final regulations are responsible for the successful execution and impacts of the executive order.

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Francisco Oller, Digital Operations and Marketing Assistant

Important Healthcare Development: On June 13th, 2019, the U.S. Departments of Health and Human Services, Labor, and the Treasury announced the Individual Coverage Health Reimbursement Arrangement (ICHRA). ICHRA, at its core, is an expansion of the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA).

The beginning of affordable healthcare for small employers

QSEHRA was introduced in 2016 as a health insurance solution for companies with less than 50 full-time employees and no base medical plan, allowing them to reimburse employees for medical expenses. Small businesses find value in QSEHRA because it gives them the ability to set fixed, tax-free allowance amounts and allows employees to choose the coverage that works for their health needs.

The introduction of QSEHRA was seen as necessary for small business as they were less likely to offer employer-sponsored healthcare than their larger competitors. According to the Kaiser Family Foundation as of 2017, 30.2% of small businesses provided employer-sponsored healthcare compared to 96.6% of companies with more than 50 employees. QSEHRA leveled the playing field of the competitive landscape, allowing small businesses to recruit and retain employees in spite of the benefits larger companies could offer.

Employers of over 50 employees have been hoping for something similar to assist them in offering affordable healthcare. This is what ICHRA is for.

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Patrick Rees, Marketing Operations Superstar

It’s Open Enrollment right now and employers, big and small, are considering their options when it comes to the healthcare benefits they offer their employees. Not all of us can afford to provide our employees the luxurious healthcare packages that multinational conglomerates offer, so it means we have to barter for the best deal and maybe accept an offer that doesn’t benefit all parties. Small employers, in particular, are at a disadvantage and cannot match the big boy's benefits.

However, the playing field has leveled out recently as a result of President Trump’s executive order expanding upon previous healthcare legislation. As of October 22nd 2018, small employers can now offer tax-free reimbursements for health insurance costs to their employees through Health Reimbursement Arrangements (HRA’s). This proposed regulation results in increased health coverage to millions of Americans.

So how does this new executive order, coupled with Open Enrollment, represent a unique opportunity for progressive small-business owners?

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Patrick Rees, Marketing Operations Superstar

The announcement that CVS has closed its $70 billion deal to purchase Aetna, America’s third-largest health insurance company, is sure to shake-up the entire industry. There have been a number of promises by CVS regarding the future of the merger, namely that they are going to cut down on paper waste by reducing the length of those ridiculously long receipts.

Wait… that might not be correct.

What they have promised is much more ambitious and, should they be successful, force those in the health insurance industry to re-think their strategies to combat a potential healthcare juggernaut. Some of CVS’s goals from the merger include:

  • New points of access to the medical system
  • Consumer-centred primary care to reduce costs and improve ease-of-use
  • Building healthier local communities
  • Improving medical care delivery
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Premiums inside the exchange are skyrocketing across the country. With BeniComp Advantage, employers can identify, realign, and manage health risks to control 2017 healthcare costs.

TAMPA, FL (PRWEB) 

November 1st marked the start of exchange sign-ups for 2017 Obamacare coverage. While rates vary in different states, most insurance premiums rose by an average of 25% around the country. Arizona appeared to have the worst outcome with an enormous 145% increase. There are many reasons rates increase, but a big factor is because insurance companies are leaving the market. Aetna is exiting the exchange in 11 states for 2017; UnitedHealthcare is exiting 31 states; and Blue Cross Blue Shield of Tennessee has announced their departure of three of the state’s largest exchange markets. Is Obamacare imploding?

Tennessee insurance commissioner, Julie Mix McPeak, said recently the exchange in her state is “very near collapse” as she agreed to premium increases of up to 62%. This was after rate increases were authorized in August for an average of 46% for Cigna and 44% for Humana. But while the exchange immediately impacts individuals, how is it impacting employers?

According to Kaiser Health News, big employers can expect health costs to rise 6% in 2017. Although it may be an average increase compared to previous years, new surveys show that it surpasses economic growth. “These cost increases, while stable, are both unsustainable and unacceptable,” said Brian Marcotte, CEO of the National Business Group on Health, a coalition of large employers that received responses from 133 companies.

No longer able to afford health care at current rates, many employers have turned to high-deductible health plans. However, raising deductibles and shifting health costs to employees is only a temporary fix, and puts financial strain on employees. In order to truly control health insurance expenses, companies need to make changes that will help control claims.

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The Equal Employment Opportunity Commission (EEOC) originally proposed amendments to regulations under the Americans with Disabilities Act (ADA) that interpret how the ADA applies to wellness program incentives. The new set of proposed regulations on wellness programs under the Genetic Information Nondisclosure Act (GINA) was issued by the EEOC on 10/30/2015.

The regulations provide relief with regard to employers that reward employees for a spouse’s participation in certain wellness initiatives. 

GINA generally prohibits wellness programs from offering incentives for the provision of genetic information. For that reason, the EEOC has informally cautioned against offering rewards to encourage a spouse to provide medical information via health risk assessments (HRAs) or annual health screenings. 

Employers Can Now Screen Spouses the Same as Employees, and offer incentives!

The new rules allow wellness programs to reward an employee whose spouse answers questions in a health risk assessment or undergoes a medical screening. However, the total incentives offered for the spouse’s participation combined with the employee incentives under the wellness program cannot exceed 30 percent of the total cost of coverage. The reference to total cost of coverage is a significant change for the EEOC, which had previously referred to single employee coverage.

Click here to see the full article on the subject.

In a historic decision by the Supreme Court on June 26th, same-sex marriage is now legal across America. While the LGBT community rejoices with pride parades and the use of #LoveWins on social media, this ruling could have another impact on the health insurance industry in our country. 

The ruling, in conjunction with the Affordable Care Act, makes it now possible for gay and lesbian employees to add their spouses to their company-provided health insurance plan. Also, insurance companies are now mandated to offer the same individual and group health plans to legally married same-sex couples.

While these effects address constitutional questions, some still have unanswered logistical questions. 

Read more on Modern Healthcare's "Same-sex marriage ruling puts health benefits in spotlight" article by Lisa Schencker and Bob Herman.

With yesterday’s ruling, the Supreme Court once again upheld ObamaCare and with it the compliance nightmares.

The compliance web can be daunting and at times feel like a moving target. You have to comply with EEOC, ADA, HSA regulations, the Cadillac tax, non-discrimination rules, affordability guidelines; the list continues and is almost endless.

The good news is there is a solution. BeniComp’s products are excepted benefits and as such are exempt. The even better news, is you are protected.

For more information on BeniComp products, please visit our solutions page at www.benicomp.com/products

Employers have had to watch every step they take for fear that any misstep will result in a huge blow up. The ability for employers to effectively incentivize their employees to a healthier lifestyle really now lays in the knowledge that a third party vendor must administer the wellness plan if any variable incentives would be offered. And, as has been proven, the outcome-based incentives are what produce a positive change. Lifestyle improvements equal reduction in trend, increased presenteeism, employee health and wellbeing, and overall ROI.

If employer sponsored wellness programs are a minefield, then the latest rules have just detonated a few grenades. Outcomes-based wellness programs produce ROI. Plans with no incentives expect 20-30% total participation, which usually end up being the healthy employees. This kind of turnout gives smoking cessation tools or diabetic tools to the wrong people. It’s not the healthy that need a doctor but the sick.

Incentives can boost engagement to 60-70%, or 90-95% if well thought out. Higher participation provides ROI and early detection because the right tools are in the right hands. And to the employer, the wellness world finally makes sense. Their goal of providing employees with continued access to affordable health care coverage is accomplished for yet another year, right? Well not so fast…

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