We recently launched a new website, www.udrivebenefits.com. While we have been offering insurance and consulting services for health benefits for many years, this new website focuses exclusively on health-related challenges and solutions. Here are some frequently asked questions and answers, which provides a quick introduction to our new website.
In talking with many employers, the biggest risk they tell us that they face is that health plan costs are consistently increasing at higher rates than their budgets, which results in cutbacks in benefits and more cost-shifting to employees. With either reductions in or loss of group health plan benefits, such “employee benefits” risk becoming “employer liabilities”.
UDrive BenefitsTMis the name we developed which connotes the idea that employers can actually manage and/or control the cost of their group medical plans. We assert that you can be “in the driver’s seat” in managing or controlling your health plan costs.
By partially self-funding a modest amount of financial risk, utilizing a “hybrid” medical plan (combining a high deductible health plan with group Health Reimbursement Accounts), and managing their health risks.
Employers that offer a partially self-funded plan do so with the objective of reducing health plan costs. This can only be accomplished and sustained, long-term, if employee behaviors change and health improves. If an employer is open to accepting some risk, there is no point in doing so unless health risk can be improved! To reduce health risk we use wellness and incentive programs that help employees and their families to change behavior and become healthier. As employees’ health improves, only if the employer is partially self-funded can it get a “return on investment” (ROI) from wellness programs. Submitted by Tony Kahmann