Healthcare Cost Containment
Healthcare Cost Containment Services (HCCS), is a benefits advisory firm, specializing in controlling and reducing employer and employee healthcare costs by using a self-funded managed captive group medical plan and other services.
After a career as a Certified Financial Planner (CFP), our owner, Nick Chambers, decided to come out of retirement to help solve this healthcare cost crisis.
HCCS represents some of the top companies in the industry which provide services designed to reduce healthcare costs for small to mid-size companies and non-profit organizations.
The anchor of these partners is the Roundstone Insurance Group, which provides a self-funded managed captive group medical plan, as well as affiliations with Third-Party Administrators (TPA), Pharmacy Benefit Managers, reinsurance companies, and health and wellness services.
These programs have proven to reduce employer healthcare costs by 15-30% per year or more, while reducing employee healthcare costs and improving the quality of care as well.
The Problem
Key issues with employer healthcare costs:
High premium increases:
The cost of employer-sponsored health insurance plans is consistently increasing at a faster rate than wages, putting a significant financial burden on both employers and employees.
Shifting costs to employees:
To manage costs, employers often increase deductibles and cost-sharing mechanisms, which means employees are responsible for a larger portion of their healthcare expenses.
High-deductible health plans (HDHPs):
The prevalence of HDHPs forces employees to pay a significant amount out-of-pocket before their insurance coverage kicks in, potentially deterring them from seeking necessary care.
Limited plan options:
Employees may have limited choices in their employer-sponsored health plans, which could not adequately meet their individual healthcare needs.
Impact on small businesses:
Smaller companies often face even higher healthcare costs per employee, making it challenging to offer competitive benefits.
Factors contributing to rising employer healthcare costs:
Rising cost of medical technology and treatments:
Advancements in healthcare technology can lead to more expensive procedures and medications.
Aging population:
As the population ages, the demand for more expensive healthcare services increases.
Chronic disease management:
The prevalence of chronic diseases like diabetes and heart disease requires ongoing and costly treatments.
Administrative costs:
The complex system of managing healthcare plans can lead to high administrative costs.
If you’re a CFO or executive for a small to mid-size company, rising healthcare costs are a great concern as they directly affect your bottom line and employee satisfaction.
At Healthcare Cost Containment Services, we work with companies like yours to contain and reduce your healthcare costs, and improve the quality of care at the same time.
Even though you may not have an immediate renewal date concern, it is never too early to learn more about our services and see what they could do for your company and employees.