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Coffee & Coverage: The New Health Benefits Model

Grab a coffee and sit down for a chat about the new health benefits model with OneBridge Benefits. Throughout this video you’ll learn more about why the current health benefits model is broken and how OneBridge is innovating the market through the power of tailor-fit coverage options, included in our latest suite of account-based benefit products, YourWay.

The more I learned about the current model of group health benefits, the more and more convinced I’ve become that the current model is broken. 

So, I should start out by saying I’m newish to the world of health benefits. I’ve been in PNC insurance for about a decade, and when I heard about new things happening in the world of health benefits, I was really interested. 

But before I could really dig into some of the new things in this world, I had to spend a lot of time studying what already exists. 

And the more I studied it and the more I learned about the current model of group health benefits, the more and more convinced I’ve become that the current model is broken.

It doesn’t make a lot of sense. Maybe it’s just because I’m a newbie to this world. I mean, I’ve utilized group health insurance in the past, and I’ve been a part of decision making around it, but it just doesn’t make much sense when you really start thinking about it. 

Why is it that most employees only get to choose from a couple of health plans? Why don’t I get to choose from every available health plan? 

And why does somebody else make the decision for me?

Why is my employer determining what health insurance I have access to?

Also for the employer, why is the employer forced into making that decision for the employee?

They’re not forced into that decision for anything else that exists in their employees’ lives. You don’t have to pick the house that the employee lives in. You don’t have to even pick their

home insurance or their auto insurance.

Health insurance is so much more personal. Why, as the employer, do you pick that thing and not give the employees the choice that they deserve?

And there’s a number of other things we can talk about, like all of the administrative tasks that exist. You’ve got Cobra administration, 1094, 1095 reporting.

You’re the one who has to be the bad guy between the carriers and the employees. When rate increases come out, who’s the punching bag?

You are the carriers punching you from one side saying, hey, rates are going up 10,15, 20, 25 percent.

And the employees are coming back to you when you’re telling them, hey, I’ve got

to pass some of this increase on to you. They’re coming back and they’re mad at you.

They’re barely even mad at the insurance carrier because you’re the one telling

them that more money is coming out of their paycheck every week or every other week.

This new model started making so much more sense to me.

The idea that employers could just give their employees money and those employees could then go out to the marketplace and make their own decisions.

Now, health insurance can be a pretty complex thing. There’s a lot to understand.

And most employees have never had a health insurance education, which is why we found

that it’s really helpful to give the employees a guide to walk them through and help them make that decision for them and their family where each individual in the family can get their own coverage based on their own health needs.

Despite the misaligned potentially dated model that currently exists in the world

of group health benefits, there are some exciting new trends and at OneBridge we’re really excited to be pursuing those new trends and to walk with you as you start to investigate some of those new trends.

So, get in touch with our team. We’d love to have a conversation with you about innovating your group health benefits package.