Empower, extend and innovate

By Jeff Young

Liz from Portland, Oregon writes: "With so much change in the healthcare industry, it's hard to know what the best solution is for our company, which has about 300 employees. We have plans to expand, so we definitely need a solution that will grow with us. We need a solution that provides paperless claims processing and gives employees mobile access to their healthcare spending accounts. That same solution needs to both lower our costs and increase employee wellness. Are we asking for too much from one solution?"

Jeff Young says: There's nothing wrong with knowing what you need - and expecting those expectations can be met - from one solution, Liz. In fact, in the midst of such change in the healthcare, it's more important than ever.

Lowering healthcare costs and getting healthier employees can be achieved by addressing five key areas. The first - and perhaps the most obvious - is to reduce healthcare costs. Because HSAs, HRAs, and FSAs are designed to be used in conjunction with high deductible health plans, you enjoy significant savings in health premiums. FICA and income tax savings also accompany HSAs and FSAs, while HRA accounts offer FICA tax savings only. The adoption of healthy habits can also drive additional savings as can efficiency gains on your healthcare technology platform.

The next key area is to increase employee productivity and wellness. You provide tools and processes in your company every day to help increase employee productivity, right? Similarly, providing employees tools that help them make healthy lifestyle choices can improve their well-being while reducing your long-term benefits costs. Look for a CDH solution that offers tools and services designed to help you deliver helpful, high-impact wellness programs in your company.

The third key area is becoming increasingly important and necessary: offer anytime/anywhere mobile or web access. Look for a fully integrated, customizable technology platform that enables your third-party benefits administrator to choose from a multitude of unique plan designs. You can then tailor a solution that meets your specific needs. Your HR staff and employee participants will have 24/7/365 access to account information, claims entry screens, and helpful reports using secure, web-based portals. Additionally, if your CDH solution has mobile capabilities, your employees can check available account balances and receive deadline reminders via their mobile devices.

Equally important is to provide paperless claims processing, which is our fourth key area. Your employees need and deserve hassle-free processing, which also reduces the burden on your HR staff. Look for a solution where claims are validated and processed automatically, reducing the need for manual reimbursement requests and provider payments.

The final key area is to look for a solution that lets you get started quickly and cost-effectively. Your technology platform should enable integration with leading health plans, data transmission from payroll and HR systems, and automated enrollment processes.

I hope this is helpful, Liz. I'm happy to say that Lighthouse1 and our partners can give you a solution that meets all of these key areas.

For more information, please visit www.lighthouse1.com

Biography

Jeff Young has more than 20 years of leadership in the technology industry. His background combines exceptional experience and success in sales, marketing, customer service, product development and partner management. As CEO at Lighthouse1, his visionary leadership guides the company through the rapidly shifting landscape of consumer-driven healthcare.