Costs
Let ProSource Financial become your workplace wellness partner. We will deliver to you the resources that you need to effectively create a healthy and happy employee culture. Our tools will help you control rising costs, increase employee productivity and morale, reduce claims and reduce absenteeism.
Wellness Initiatives / Return on Investment
Let us work with you to create and administer a wellness initiative program at your company with an eye towards a return on investment of both time and money. The most popular workplace wellness programs include health risk assessments, onsite blood screenings, flu shots and weight management programs. We also provide access to targeted health and wellness newsletters for your employees, Wise & Well, offered through our Web-based MyWave system.
Benefit Strategies
Saving money on employee benefits while still attracting and retaining the best and the brightest is a must in today's economy. The cost of providing benefits is rising significantly, while employees consistently seek more and more from their benefits packages. Many employers struggle to balance employee needs with their own capabilities and bottom lines.
Helping you meet these divergent objectives is ProSource Financial's specialty. Using our advanced technology and consulting expertise, we provide a variety of value-added services to our clients that reduce costs, increase efficiency, and improve employee satisfaction.
Markey Survey - ProSource will initiate a market survey for the appropriate third party administrator and insurance or re-insurance company. There are numerous companies that can provide proposals. The selection process to find the perfect fit is extremely important.
Preferred Vendor Status - We maintain "preferred vendor status" with several of our insurance carrier partners.
Employee Contribution Strategy - ProSource will analyze and develop a contribution strategy that fits your company's unique financial situation.
Spousal Carve-Out - In order to reduce health care costs, many employers have adopted group health plan provisions restricting coverage for spouses. These provisions take the form of spousal carve-outs (also known as "working spouse provisions"). They can provide substantial cost savings for health plans, particularly in plans where a significant portion of the enrolled population elects family coverage.
Benchmarking - Benchmarking is a comparative assessment tool that is used extensively in the healthcare industry that compares and evaluates the efficiency, cost-effectiveness, and quality of healthcare benefit plans.
Decision Master Warehouse - Decision Master Warehouse (DMW) is a Web-based claims analysis tool that empowers you with detailed information about your claims costs data, identifying trends in utilization and offering solutions for managing and reducing claims costs. DMW provides information that's easy to read, professionally organized and illustrated with dozens of exhibits. Let ProSource help you analyze your claims data in ways that you never thought possible, turning complex data into meaningful information, yielding powerful results.
Employee Engagement / Consumerism
Everyone is talking about "consumerism" in health care. Why keep talking about theories and "what ifs" when you can work with an organization committed to delivering the strategies, tools and resources that will bring health care consumer-driven plan designs from consideration to implementation? You can no longer simply provide a health plan for your employees and let them worry about how to use it - you must provide a variety of plan options and help employees choose the right ones, as well as provide a variety of educational and decision support tools.
HRconnection - ProSource Financial will provide this fully customizable, employee-facing Web site to your company. It houses all of your employee benefits information, and helps you disseminate educational materials and resources to your employees quickly and easily.
HRA / HSA Plan Designs - Health Reimbursement Arrangements (HRAs) are plans designed to control costs, increase savings and provide benefits from tax advantages, saving money for employers and employees. HRAs enable employers to reimburse employees for out-of-pocket medical expenses not covered by insurance. HRAs are usually combined with a high deductible health plan (HDHP).
By combining a Health Savings Account (HSA) with a high deductible health plan (HDHP), you will reduce your premiums, lower the costs of your health insurance plan, deliver more benefit dollars to your employees and provide an incentive to your employees to get involved in their health care decisions and achieve tax savings.
Transparency - Consumers should demand full transparency. With transparency, individuals can make their own value-based judgment calls about the health care received, and negotiate accordingly. Without transparency, consumers are subject to the bureaucracy-driven judgment calls of others - dependent on other people to weigh the options, costs, and benefits, and make the determination how much and what kind of health care is received.
Wellness - An investment in your employees' health can lower healthcare costs. Employees with high risk factors (being overweight; smoking; having diabetes) cost more to insure than people with fewer risk factors. Smoking cessation or weight loss programs raise awareness of the importance of a healthy lifestyle - employees with health risk factors are encouraged to make lifestyle changes, modify behavior and improve their quality of life and lowering costs. The payoff in dollars as well as in quality of life can have a huge impact on your company's bottom line.
