Designers: Consumer Driven Healthcare Plans

  • A Business Case for CDHP

    Does Consumer Driven Healthcare make business sense? A fair question since the discussion about affordable healthcare has been around for so long, and from a consumer's perspective does not seem to be attainable. Consumer Driven Healthcare is an ideal solution because it saves money for employers and employees as well as reduces overall healthcare costs. People will benefit within a system that promotes and rewards those who l... Read More

  • Who We Design For

    We have designed and implemented successful CDHP packages for small, medium, and large companies, churches, and non-profit organizations, that have a desire to bring the best healthcare options to their employees.

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  • What We Design

    Benefits Matrix develops Consumer Driven Healthcare Plan designs comprised of five elements - three of which are actuarial based projected financial costs for each insurance plan quoted, selection of Third Party Administrators, and employee education. This unique, consultative approach, is what sets us apart in the benefits world and why Brokers refer us.

    Our plans are efficient, cost effective, tax la... Read More

  • How We Design

    We work hard to earn your business.

    We have decades of experience in the financial services, corporate benefits, qualified plans, trusts, and retirement plan markets, but you can read our Bio’s to learn those details. Yes, we have lots of credentials… yet we never take any company’s need to improve the healthcare benefits they are offering their employees as common or typical... Read More

  • Why We Design

    To whom much is given much is required.  We have had the opportunity to experience many changes in our industry.  Changes in products, carriers, and tax laws.  These changes have brought us to an awareness of how to design the best CDHP package.  The best Consumer Driven Healthcare Plan package is not a “one size fits all” package.  We have a recipe in which the businesses needs are key ingredients that he... Read More

  • CDHP Designers

    Health insurance complexities, regulations, and the overall number of variables need to be considered when designing a health insurance package. Benefits Matrix consultants, working along with your health insurance broker, will prove to be a tremendous asset to you, the employer, and your employees.

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A Business Case for CDHP

Does Consumer Driven Healthcare make business sense? A fair question since the discussion about affordable healthcare has been around for so long, and from a consumer's perspective does not seem to be attainable. Consumer Driven Healthcare is an ideal solution because it saves money for employers and employees as well as reduces overall healthcare costs. People will benefit within a system that promotes and rewards those who live healthier lives through prudent decisions on healthcare costs.

When designing a Consumer Driven Healthcare Plan, the potential to change consumer behavior and reduce healthcare expenses becomes, through experience, something the consumer can actually understand. When a consumer understands that making a phone call or researching the cost online could save them hundreds of dollars on MRI services, rather than relying on a blind referral, then they begin to realize how shopping these services can impact their bottom line.

Actual savings to our clients have been documented at 10% to 25% of healthcare costs. Potential savings will depend on a company's current healthcare package. While HRA and HSA options have been offered for less than ten years, we all know that if Fortune 500 companies can achieve this kind of savings, then many in the small and middle markets can achieve these results also.

The true cost of healthcare is often hidden from the consumer in the form of co-pays. When an employee only sees the cost of a service set at a $10 or $25 copay, there is a disconnect as to what the true cost of the visit is. They are unaware that the employer is actually paying for most of the cost in the form of higher premiums. As individuals are exposed to the actual cost of healthcare, they will begin to modify their behavior. With an HRA or HSA, this can be done without a financial impact on the indvidual. As the saying goes “you never get something for nothing” and when consumers begin to understand the cost of healthcare, they will begin to control their own healthcare costs and, as a result, reduce overall healthcare expenses.

Consumer Driven Healthcare makes great business sense, generating savings and better benefits to the members, with less money wasted on unnecessary or overpriced procedures.