That’s and increase from $1.5 trillion to $4.3 trillion in 2021. Employer premiums during that same period have tripled.
Roughly 35,000 employers and 114 million employees are participating in benefits financed through a self-funded health plan leaving the remaining 58 million people on a fully insured plan.
With increased health benefit costs, employers are taking hits to their bottom line, negatively impacting earnings and losing enterprise value.
While Employee Earnings have increased 103% and inflation has increased 73%, family premiums have increased a whopping 288%.
Vetted point solutions. Real-time plan modeling. Branded content. Speed to launch.
The needs of our clients are diverse but are all aligned in creating more value for their organization and the clients and members they serve.
We can tell you about the value we are creating for clients or the revolutionary action we are taking, but we think it’s best to hear it straight from our client’s mouths.
“NavMD has been a true partner in data analytics. Our agency is appreciative for the NavMD attitude of “What Else?” – never resting on laurels of their already incredible solution. NavMD digs deep to discover what is needed in the marketplace, but more importantly, strives to identify what most do not yet know they need to best dissect data and extract a story of action. ”
“Many data analytic companies can determine cost drivers and trends in a population. Even fewer are willing to partner with you to develop long-term strategies based on your clients' needs. NavMD is flexible and goes above and beyond to help develop and implement solutions specific to clients' experiences and needs. The continued development of NavMD has provided valuable access to actionable data in split seconds, keeping our consultants and brokers on the leading edge.”
“Employee benefits is the second-largest expenditure for employers. With the insights from NavMD, we’re able to deliver on our promise to help our clients lower the cost of their benefits plan. From custom alerts, reporting tools, and the NavMD Marketplace, we are confident that no stone is unturned while helping our clients achieve their goals.”
"NavMD has been a long-standing, important partner to True Captive. Leveraging their health data analytics platform saves us time by performing the critical analysis needed to support our employer clients with the insights from their health plan data. NavMD allows us to make data driven decisions by identifying trends and risk areas that inform the strategies we implement to control costs and improve the health of our members.”