72. Future Proofing Your Health Benefits: A Case Study in Multi-Year Planning w/ Julia Watt

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 without compromising employee benefits.--------------------------------Finished with the content? Claim your CE credit here:https://ideas.ethosbenefits.com/continuing-educationSHRM:Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities.HRCI:Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification.