Would you rather?

Option A: The furniture dealer purchases the couch for $1000, marks it up 50% to get their needed margin and sells it to you?

Or

Option B: The furniture dealer purchases the couch for $1000, marks it up 500%, but gives you a 50% discount for buying it?

We would ALL choose option A, but what if I told you option B is how your health plan is likely making deals today? The Option B example represents a traditional PPO network, where Option A is representative of a Direct Contract or Reference Based Pricing style of plan. The fact is the method for purchasing healthcare doesn’t just impact your budget, it impacts your employees budget too!

Change Management 101

Are you afraid to make any employee benefit changes out of fear of how your employees might react? Here are 3 quick tips to make the changes you need and lessen that fear of change for your employees.

1. Start early! There is no substitute for having more time to process change.

2. Clearly demonstrate! You wouldn’t make change unless employees would benefits, make sure to show the EXACTLY how it will be better for them.

3. Be open to feedback! Give employees the freedom to share concerns or ideas they may have, you never know how much that could benefit you!

If you are looking to make changes these three ideas are a good place to start. If you need more, reach out as we are happy to help!

Chevron Deference Overturned

The Supreme Court has ruled to overturn the Chevron Deference. The background is in 1984 the courts decided to defer the interpretations of ambiguous statutes to the Federal agency in which it fell under. The overturning of this practice has no immediate impact on you. We will need to continue all statutory compliance measurements when it comes to your employee benefits plan. However, we do anticipate this new ruling to increase the amount of statutory requirements being challenged. We will always work hard to keep apprised of these challenges and update you quickly if changes happen that apply to you. We want you to continue to have the peace of mind you deserve!