Finding affordable healthcare for mid-size business owners can be a daunting task. Providing healthcare coverage is not only important for employee retention and satisfaction, but is also mandated by the Affordable Care Act (ACA).
In this article, we’ll explore the common challenges mid-size businesses face when it comes to healthcare coverage. We’ll also cover how Redirect Health’s innovative healthcare solutions can provide cost-effective and comprehensive coverage options.
Common Challenges for Mid-Size Businesses
Escalating Healthcare Costs
In the United States, mid-sized businesses are a crucial segment of the economy. This is because there are about 28 million small and medium-sized businesses operating in the US. Unsurprisingly, these businesses account for nearly two-thirds of net new private sector jobs.
However, many of these businesses often struggle with escalating costs. Not only the rising costs of goods but also of group health plans and insurance for their employees.
These rising costs pose a significant financial burden. According to the National Federation of Independent Business, the cost of healthcare was presented as a business’ most significant challenge.
The average employer-sponsored healthcare premiums for a family of four have increased by 55% in the last decade. Consequently, this trend has increasingly burdened mid-size businesses, often due to having fewer resources and bargaining power than larger firms.
Investment Cuts and COVID-19
The financial burden of healthcare costs has forced many mid-size businesses to cut back on investments. These are investments that could have enabled them to grow and compete in the market.
This situation is particularly dire for industries with a higher concentration of mid-sized businesses, such as retail, construction, and manufacturing.
These industries account for a significant percentage of businesses in the country, and the rising cost of healthcare has been a challenge for business owners.
This has never been truer than during the COVID-19 pandemic. Business owners were faced with rising expenses related to ensuring the safety of their employees.
Despite the financial strain, the need to provide medium and small businesses with health options to maintain a productive workforce was recognized.
This is because of the significant benefits of relieving the burden of healthcare costs. When employers aren’t burdened with these costs, they have more disposable income. This is income that can be invested into the economy, enabling businesses to flourish.
Benefits of Relieving the Burden of Healthcare Costs
Offering competitive healthcare benefits to employees is essential for attracting and retaining the best talent in a highly competitive labor market. Mid-sized businesses require solutions that are cost-effective, flexible, and provide quality healthcare.
The ACA has provided businesses with options to manage healthcare costs, including:
- Tax credits
- High-deductible health plans
- Implementing wellness programs
However, implementing these strategies hasn’t necessarily reduced the financial impact on business owners. Long story short, these solutions weren’t the innovative solutions business owners needed to address rising healthcare costs.
Private Exchange Solution
One potential solution is using a private exchange, which has gained popularity in the last few years.
A private exchange offers employers a defined contribution plan. In this plan, businesses contribute a set amount of money for each employee.
Employees then use the funds to buy a healthcare plan from the exchange, which offers various types of health insurance plans and carriers.
This approach offers flexibility to employees. It provides them with more control over their healthcare choices while reducing the administrative burden on employers.
Innovative Healthcare Solutions for Mid-Size Businesses
Redirect Health is a healthcare provider that offers unique solutions to mid-size businesses. These solutions differ strategically from traditional insurance plans and health insurance companies.
Our approach aims to eliminate administrative waste and quickly identify the most cost-efficient route to address everyday healthcare needs.
Redirect Health achieves this by “redirecting” care without sacrificing quality. This results in a more streamlined and efficient healthcare experience for employees.
One of the key benefits of Redirect Health’s healthcare plans is comprehensive coverage at affordable prices. Members can access several healthcare benefits for a low, fixed monthly fee, including timely and knowledgeable assistance with their medical care.
Members are also connected to a healthcare advocate, available 24/7/365. Their advocate will direct them to the right healthcare option at the lowest price. This helps to ensure that they receive the best possible care while keeping costs under control.
Our approach to healthcare is supported by an extensive network of over 700,000 available providers and by offering an easy to use Member App.
Our app allows members to:
- Connect easily with medical practitioners
- Schedule virtual or in-person appointments
- Coordinate payments and billing inquiries
- View healthcare benefits
- Update member information
- And more!
Moreover, the Redirect Health team is available 24/7/365 to navigate every aspect of a member’s healthcare journey, from lab results to follow-up care, ensuring that members have access to the care they need when they need it most.
By partnering with Redirect Health, mid-size businesses can offer their employees and their families affordable healthcare.
This represents significant cost savings for businesses and helps to attract and retain employees who value comprehensive and hassle-free healthcare coverage.
How Redirect Health Works for Mid-Size Businesses
Redirect Health provides a comprehensive healthcare solution that aims to simplify the healthcare journey for employers, employees, individuals, and their families. Our healthcare model focuses on affordability, accessibility, and quality.
This is shown with the Redirect Health Member App that is available 24/7/365 and the dedicated care team at the core of this solution.
To use the Redirect Health plan, individuals can download the Member App, call or text the team, and discuss their medical needs. The care team will assess the need and schedule an appointment with a medical practitioner, either virtually or in person.
The team will also coordinate payments and billing inquiries and follow up with the member to ensure they have everything they need after care. The follow-up includes checking on their treatment plan and making sure they are on the right track for treatment or recovery. The process is quick, efficient, and cost-effective. Moreover, members are always in control of their healthcare choices.
Redirect Health has successfully implemented plans for mid-size businesses, helping them to control healthcare costs and improve employee well-being.
Common Concerns
While Redirect Health offers comprehensive and affordable healthcare solutions, some individuals may still have concerns about certain aspects of our plans.
Availability
One common concern may be the availability and quality of care. However, Redirect Health only connects patients to high-quality healthcare providers who are committed to delivering superior care.
We have a rigorous screening process for our network of providers to ensure that our patients receive the best possible care.
Additionally, the care teams are dedicated to providing personalized guidance and support throughout the healthcare journey, ensuring that individuals receive the care they need to stay healthy and well.
We also provide the option for our members to choose their own doctor as they may have had a previous provider before joining the plan. This means members can retain the relationships with providers they trust while receiving simplified and easy-to-access care.
Personalization
Another concern future clients may have may be the level of personalization. Redirect Health’s healthcare solutions are actually designed to be customized to meet the needs of each individual, with care teams providing personalized guidance and support every step of the way.
We understand that healthcare needs are unique to each individual, and we work to create a healthcare plan that meets the individual’s specific needs and requirements.
Access to specialists may also be a concern for some individuals. However, if a specialist is needed, Redirect Health will coordinate the referral and ensure the patient receives the care they need at the right price. We have a network of specialists that we work with to ensure our patients receive the best possible care for their specific medical needs.
Costs
Finally, some individuals may have concerns about the cost of Redirect Health’s healthcare plans. However, Redirect Health’s healthcare plans are designed to be affordable and cost-effective with low premiums and deductibles that don’t go up year after year.
Moreover, our solutions offer several benefits and cost savings, such as reduced hospital visits, lower drug prices, and lower costs for diagnostic tests and lab work. Our team of care experts will also help guide members through the healthcare system, always looking for the most convenient, quality care at the best prices.
The Top Benefits of Our Healthcare Solutions
The benefits of Redirect Health’s healthcare solutions for mid-size businesses are numerous and significant. Businesses can attract and retain employees by providing cost-effective and comprehensive coverage options while reducing healthcare costs.
Let’s take a closer look at some of the top benefits of Redirect Health’s healthcare solutions.
Affordability
Redirect Health’s healthcare plans are designed to be affordable. By focusing on preventative care and cost-effective solutions, Redirect Health can help businesses reduce healthcare costs while providing their employees with comprehensive coverage. This translates to cost savings for both the employer and the employee, making healthcare coverage accessible to a wider range of individuals and families.
Accessibility
Redirect Health’s healthcare services are designed to be convenient and accessible. The Redirect Health Member App allows members to easily connect with medical practitioners, schedule virtual or in-person appointments, and coordinate payments and billing inquiries.
Additionally, the 24/7/365 availability of the Redirect Health team ensures that members have access to the care they need when they need it. This accessibility helps businesses provide their employees with healthcare coverage that is convenient, efficient, and effective.
Comprehensive Coverage
Redirect Health’s healthcare plans are designed to be comprehensive, covering a wide range of healthcare needs. This includes preventative care, acute care, chronic care, and more.
Comprehensive coverage ensures that businesses can offer their employees healthcare that addresses a wide range of medical needs, helping to keep them healthy and productive.
Customizable Plans
Our healthcare plans are designed to be customizable, allowing businesses to tailor their healthcare plans to meet the unique needs of their employees.
This level of customization ensures that employees receive healthcare coverage that meets their individual care needs and requirements. This helps businesses attract and retain top talent by offering a healthcare coverage package tailored to their employees’ unique needs.
Hassle-Free Plans
Lastly, Redirect Health’s healthcare services are designed to be hassle-free. This makes the care experience more streamlined and efficient, reducing the stress and burden associated with traditional healthcare models.
By redirecting care to the most cost-effective options, businesses and employees can achieve significant savings while receiving the care they need to stay healthy and well. This hassle-free approach helps businesses to provide their employees with healthcare coverage that is efficient, effective, and cost saving.
How to Get Started with Us
Getting started with Redirect Health is as easy as completing five simple steps. Here’s a closer look at how mid-size businesses can get started with us.
Get in Touch
As an employer, the first step in getting started with Redirect Health is to contact us. This can be done by visiting our website or by calling our customer service team.
Our team of healthcare consultants will be happy to answer any questions that you may have and guide you through the process of getting started with our healthcare solutions.
When you reach out to us, we’ll gather some initial information about your business and your healthcare needs. This information will help us to understand your unique situation and provide you with the most appropriate healthcare solutions.
Discovery Process
After you contact us, we’ll guide you through the discovery process. This process is designed to be hassle-free and straightforward. We want to ensure that you have all of your questions answered and that you have a smooth experience from start to finish.
During this process, we’ll gather more detailed information about your business and your healthcare needs. We’ll work with you to create a customized healthcare plan that meets the unique needs of your business and your employees.
To begin the discovery process, we’ll set up an initial consultation with you to discuss your healthcare needs and preferences.
Comprehensive Healthcare Plans
Redirect Health’s healthcare plans are designed to be comprehensive, covering a wide range of healthcare needs. This includes preventative care, acute care, chronic care, and more.
Preventative care is an important aspect of our healthcare plans. By focusing on preventative care, we aim to keep our members healthy and catch potential health problems early on. This includes regular check-ups, immunizations, and screenings for conditions such as cancer and diabetes.
By catching health problems early on, we can often prevent them from becoming more serious and costly down the line.
Our healthcare plans also cover acute care, which refers to medical treatment for sudden and severe illnesses or injuries. We have hospitalization plans that include services such as emergency room visits, urgent care, and hospitalization.
With Redirect Health, you can rest assured that you and your employees will have access to the care you need in the event of an unexpected medical emergency.
Chronic care is another important aspect of our healthcare plans. Chronic conditions, such as diabetes, heart disease, and arthritis, require ongoing medical care and attention.
Our healthcare plans include coverage for chronic care, ensuring that our members have access to the necessary medical care and treatments to manage their conditions.
In addition to these core healthcare services, Redirect Health’s healthcare plans also cover a wide range of other healthcare needs. This includes mental health care, prescription drug coverage, and chiropractic.
With our comprehensive coverage options, you can rest assured that you and your employees will have access to the care they need to stay healthy and well.
Implementation & Onboarding
Once the customized healthcare plan is finalized, our healthcare consultant and client success advocate teams will implement the plan and guide you and your employees through the onboarding process This includes providing training and support to your employees, setting up the Redirect Health Member App, and ensuring that all of the necessary paperwork is in order.
Our team of healthcare experts will be available to guide you through the implementation process and answer any questions that you may have.
Ongoing Support
Once the plan is implemented, our team of healthcare consultants and client success advocates will provide ongoing support to ensure that everything runs smoothly.
This includes providing support for any questions or concerns that your employees may have, coordinating care with healthcare providers, reaching out about upcoming renewals, and ensuring that your business is achieving the cost savings and other benefits associated with our healthcare solutions.
Why Redirect Health is the Solution
Affordable healthcare for mid-size business owners is crucial in attracting and retaining employees while also reducing healthcare costs. Redirect Health’s innovative healthcare solutions provide a cost-effective and comprehensive coverage option for mid-size businesses.
The benefits include affordability, accessibility, comprehensive coverage, customizable plans, and hassle-free services.
By partnering with Redirect Health, businesses can provide their employees with quality healthcare coverage at an affordable price while also reducing healthcare costs and administrative waste.
Accessing healthcare services has never been easier with over 700,000 available providers and the Redirect Health Member App.
Consider Redirect Health for your mid-size business health options program and experience the benefits of quality healthcare coverage for your employees.
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