About this episode

Chelsea Ryckis and Julia Watt discuss a case study on future-proofing health benefits through strategic planning and innovative healthcare strategies.

In this session, Chelsea Ryckis and Julia Watt, Director of HR at Medical Technology Transfer (MTT), delve into a case study on "Future-Proofing Your Health Benefits." They discuss how MTT, a 125-employee company, achieved a 67% reduction in claims cost over three years through a multi-year strategic plan. This conversation offers a roadmap for employers of all sizes to move away from the traditional, reactive renewal cycle and adopt a proactive, data-driven approach to managing healthcare costs and fiduciary responsibilities. What you'll learn: How a small employer (125 employees) can implement innovative healthcare strategies often considered only for large corporations. The limitations of fully insured plans and the benefits of transitioning to level-funded and self-funded models. The importance of data transparency in understanding and controlling healthcare cost drivers. How to strategically unbundle your health plan and select vendors aligned with your company's best interests. The critical role of a fiduciary PBM in managing pharmacy costs, which are often a significant expense. Actionable steps to take control of your health plan, negotiate better terms, and reduce costs…

People in this episode

Host: Chelsea Ryckis

Guest: Julia Watt

Topics covered

• health benefits
• multi-year planning
• cost reduction
• healthcare strategies
• data transparency
• fiduciary responsibilities

Keywords

• healthcare costs
• claims cost reduction
• level-funded plans
• self-funded models
• data-driven approach
• pharmacy costs
• employee benefits

Mentioned in this episode

Organizations: Medical Technology Transfer, Ethos Benefits, SHRM

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