Prescription for a Robust Healthcare Program
What makes for a robust PEO healthcare program? Well, it would need to have qualities that make it strong, productive, and dynamic.
There are generally three things that contribute to this. First, strength. The plan needs to have a strong foundation that allows it to serve a broad array of participants. PEOs can achieve program strength by offering plan choice. If the range of plans provides options and benefit levels that cover a wide variety of jobs, pay ranges, and locations, enrollment will remain strong and keep the plan strong.
Productivity. When the PEO keeps healthcare costs in check, the program is productive, meaning that participants get the most bang for their buck. A variety of things can help with this, including new distribution channels, performance monitoring, and strategies such as using health savings accounts, health reimbursement arrangements, and flexible spending accounts. These tools also help the PEO enhance its healthcare value proposition.
Being dynamic. This means staying abreast of the marketplace, client concerns, and developments in the healthcare arena to implement plan design changes, make contribution changes, re-evaluate vendors, and update delivery systems.
All of these things will contribute to making your healthcare program robust: strong, productive, and dynamic.