CHICAGO--(BUSINESS WIRE)--Maestro Health, a leading all-in employee health and benefits company, today announced the launch of an innovative health plan management approach to their (me)SELF-FUNDED BENEFITS™ that solves for the most prevalent issues in employer-sponsored healthcare. By redefining the traditional self-funded benefits model, the new solution puts employers back in control and reduces costs and complexity by making healthcare transparent and people-friendly.
“Our team has a deep background in self-funded benefits, and we understand the pain that employers and brokers experience as they attempt to mitigate skyrocketing premiums and a dizzying healthcare landscape. Our new approach consolidates all of the critical components of healthcare into a single integrated solution designed to reduce complexity and save money,” said Ray West, Chief Growth Officer, Maestro Health. “We understand that every company is unique, which is why we created a highly personalized solution that can meet employers where they are on their benefits journey. Our tiered strategy is designed to help employers of all types and sizes seamlessly transition to our self-funded model.”
Not only are employers struggling to manage continually rising costs, but employees are paying too much for healthcare and are unable to navigate the complex system without the right tools and resources. People with basic or below basic health literacy pay, on average, almost $2,500 per year more for medications and more than $500 more for office visits, compared with those with above basic health literacy (CNN). Maestro Health combines enrollment, education, advocacy, navigation and wellness with an all-in technology meets service platform to provide an end-to-end self-funded solution to today’s employer-sponsored healthcare market.
“Benefits remain one of the most important ways that employers attract and retain talent, but companies are not in the business of negotiating for and providing healthcare,” said Rob Butler, Founder and CEO, Maestro Health. “Traditional insurers’ pricing models lack transparency and charge amounts that are artificially inflated and have no relationship to underlying costs. Bills are being padded with $1,050 charges for oral cleansing devices (toothbrushes), $450 for cranial support systems (neck pillows) and $75 for mucus recovery systems (tissues). Our vision is to mitigate these egregious charges, put employers back in control of their costs and empower employees with tools and resources to help them change the way they consume healthcare.”
The average for-profit hospital charges over five times what they should for their services, and patients have few resources that help identify ways to combat overcharging. Maestro Health’s new health plan management approach to (me)SELF-FUNDED BENEFITS defines a pricing model that delivers flexibility, transparency and value. Using a tiered model, employers are able to choose their strategy according to their comfort level for change and their hunger for savings. The goal is to improve access to providers and enable employers and employees to manage benefits with ease. Given over 80% of medical bills have an error, the company audits every facility bill to make sure it is fair, accurate and appropriate to the member’s care.
“With the healthcare market at its tipping point and traditional insurance models turning upside down, it is exciting to be at the forefront of all the disruption,” said Rob Butler. “We’ve been able to capitalize on our 30+ years experience in TPA and benefits administration to provide a game-changing opportunity for employers to regain control of runaway healthcare costs and bring their employees health and wellbeing back in focus.”
To learn more about Maestro Health’s health plan management approach to (me)SELF-FUNDED BENEFITS, please visit: https://GameChangerHR.com.
Register for Maestro Health’s upcoming webinar, “The old reference-based pricing is dead: How to restart the game with a new model,” on April 24th for a closer look at what an innovative approach to health plan management offers.
About Maestro Health™
Maestro Health makes employee health & benefits people-friendly again by delivering an all-in platform that works together to improve the health of employees while lowering costs and administrative burdens for employers. Maestro Health owns and operates the three most strategic components of an effective employee health & benefits program: (me)SELF-FUNDED BENEFITS™, (me)BENEFITS ADMIN 2.0™ and (me)BENEFIT ACCOUNTS. The flexible solutions are designed and unified on a tech-meets-service platform, maestroEDGE™, so customers can customize their own HR suite based on what works best for their unique needs—all to optimize and simplify the way employees and employers shop, enroll and live with their benefits.
To learn more, visit: www.maestrohealth.com.