Andy NearyI help insurance professionals turn brand awareness into business growth.

STOP Buying Insurance ... START Managing Risk!

3 Feb 2020 · 2 min

Watch on YouTube

1:40

A short advisory YouTube video by Andy Neary targeting employers who provide health insurance. Neary argues employers should shift from "buying insurance" to "managing risk," focusing on three risk areas: financing the plan (move away from fully insured), managing catastrophic claims (surgeries, cancers, high-cost pharmacy), and improving employees' health-care purchasing/navigation to favor high-quality, low-cost options. He emphasizes changing the conversation or broker if current approaches focus only on shopping carriers, rates, or shifting costs to employees.

Chapters

Hey there. If you are an employer who provides health insurance to your employees or you're a consumer of health insurance, listen in. I'm excited. I'm doing this video live from the conference room of one of my clients. We just got done with our year in review meeting and this is why I love meeting with this client and many of my clients. Our quarterly meetings aren't spent talking about which carriers should we shop this year? Which carriers have the best rates or how are we going to have to tweak deductibles and copays or ask employees to pay more? No, no, no. Our discussions are focused on how we are going to give their employees the best access to the health care system. How are we going to help them navigate a confusing and frustrating health care system? And then how are we going to reward people when they make good health care decisions by making that care zero dollar cost. It's that simple folks. If you're an employer out there and you're frustrated on your health insurance, either change the conversation or change your broker. Here are three things you need to be focusing on. Because at the end of the day, impacting your health insurance cost is not about buying insurance. It's about managing risk. And the three areas of risk you have to focus on are Financing risk. How are you financing your plan? If you're fully insured, you have no shot. Start financing the plan better. Number two, manage catastrophic risk. Those big claims in your plan, the surgeries, the cancers, the pharmacy. You're being told there's nothing you can do about it. Bull crap. There's something you can do about it. Number three, manage healthcare purchasing risk. How are your employees navigating the healthcare system and how are they buying their health care purchases? Help them focus on that high quality, low cost guys and you will buy your insurance at a much lower cost than you are today.