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Data Transparency - Innovative Health Insurance Advisors

Are medical captives the answer to data transparency?

More than 30% of midsized companies with 100 to 499 employees are now self-funded, which
represents a 20% increase in the past year alone, according to the Employee Benefit Research Institute. As more and more business owners gain knowledge about different types of programs that will help them achieve lower health insurance cost and regain control of their programs a key component is claims analytics. For employer to truly regain control of their health insurance spend and maximize their self-funding experience this is a vital component to their success.

Claims analytics supplies employers with the factual breakdown of their overall health of their company and employees. It is truly amazing the amount of data that can be shared with employers allowing them to fully understand the risk and how that risk relates to their cost. Analytics can be drilled down to an individual basis if desired or stay at the 10,000-foot overview and allow their broker or consultants to digest all the data and relay only the important facts. Knowledge is power and the more power employers have the better they are equipped to understand self-funding break the handcuffs that the large insurance companies have over them.

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