partners
TOGETHER
Health Benefits Renewal Is Coming, Ready
or Not
COVID-19 underscores the urgent need
for employers to radically rethink their
employer-sponsored health benefits strategy
for the upcoming health benefits renewal
season. The traditional fully-insured model
of employee health insurance is no longer
cost-effective, nor does it benefit employees
in the long run. As such, a new – and better –
solution must be found.
New York State requires medical insurance
carriers to announce any intent to increase
premiums with the Department of Financial
Services (DFS) and with their policyholders.
Carriers in downstate New York like Oxford,
Empire, Aetna, Emblem and Oscar are all
requesting double-digit increases for the
upcoming benefits renewal season. Upstate
carriers are projecting single-digit increases at
renewal. It’s time to get to work.
Engineered with LeadingAge New
York members in mind
Cool Insuring Agency, LeadingAge New
York’s employee benefits endorsed vendor, is
proud to announce that we have partnered
with Nonstop Wellness to help LeadingAge
New York members discover a new way
to fund their employee health benefits.
Nonstop Wellness is a proprietary partially
self-insured product, combining the cost
savings of a self-funded plan with the
financial predictability of a fully-funded
plan. By combining a major medical plan
with the Nonstop Wellness program,
organizations will gain greater control of their
employer-sponsored health insurance spend
while offering their workforce health benefits
with robust first dollar coverage.
First Dollar Coverage
What first dollar coverage means is that
Nonstop Wellness pays for in-network health
care costs first. The employee does not have
to pay up-front costs to go to the doctor – like
copays – and they do not have to meet an
up-front deductible for the plan to kick in for
expenses like medical care visits, pharmacy
costs or even hospitalizations. In addition
to reducing health inequity and promoting
greater economic and physical well-being
for your employees, first dollar coverage can
be leveraged as a powerful recruitment and
retention tool.
Results
East Harlem Council for Human Services,
Inc. recently reduced their annual employee
health benefits spend by more than $230,000
by transitioning from a traditional fullyinsured
health plan to the Nonstop Wellness
program. They were also able to reduce
employee contributions to premiums and
design a health plan that promotes access to
primary care with first dollar coverage for all
in-network covered services.
Want to know what Nonstop
Wellness looks like for your
organization?
Jody Schreffler, Vice President of Nonstop
Administration & Insurance Services, Inc.,
at [email protected] or
503-260-5634
Mark Baker, Vice President of Cool Insuring
Agency’s Employee Benefits Division,
at [email protected] or
518-783-2665, ext. 196
26 Adviser a publication of LeadingAge New York | Summer 2020