Has your company tried, over and over again, to solve ever increasing health care costs? “Yes, of course we have, but nothing seems to work!” is a common answer. “We bid out our employee health insurance every year through multiple brokers, we reduce benefits to offset rate increases, and we even light a candle 24 hours before year-end renewal!”
The Washington Post published one of the most perceptive op-eds on Labor Day that I’ve seen in a while re: the alarming impact that healthcare costs are having on employer wages: Where Did Our Raises Go? To Healthcare. Likely not new information - although, the way it’s presented will have every executive re-thinking their renewal strategy.
Two of the main take-aways:
1. Money once reserved for wage increases is now diverted to pay for employer-provided health insurance. A new study provides stunning estimates: For the bottom 60 percent of U.S. workers, wage gains have been completely wiped out by contributions for employer-provided health insurance.
2. For the bottom 50% of workers, employers’ health insurance contributions averaged 30 to 35% of companies’ total compensation packages. Companies also increased the premiums that workers themselves must pay to get coverage. From 1999 to 2015, worker premiums for a family plan more than doubled in inflation-adjusted dollars, from about $2,000 annually to almost $5,000.
All is not lost:
The Health Rosetta provides the blueprint for wise healthcare purchasing. They've uncovered the path to reduce costs drastically while improving benefits and health outcomes.
We encourage you to join us on October 11, 2018 to hear from experts across the healthcare ecosystem providing actionable insights and strategies to implement the Health Rosetta principles. Check out our all-star line-up:
- Dutch Rojas - CEO & Founder: Sano Surgery
- Al Lewis - Co-Founder & CEO: Quizzify
- Cheryl Kellond - Co-Founder & CEO: Apostrophe Health
- Robb Hicks, MD - Primary Care Physician & Founder: Direct Patient Care STL
- Curits Colbert - Principal, Simplified Insurance
At the cornerstone of our Health Rosetta, the blueprint for high-performing health plans, is Direct Primary Care - a direct-to-patient care model that cuts out the insurance middle-man.
Less than two years since launch, Simpara has been named a Future 50 business by Small Business Monthly. The award recognizes our rocket-ship revenue growth and future potential but also our impact on the St. Louis community. This award is recognition of our work to reverse the trend in rising healthcare costs for businesses and their employees. We're restoring bottom-line growth, restoring wages to employees, and delivering a superior healthcare experience.
This award is a testament to our clients and the St. Louis community that we live and work - we couldn't be more humbled and thankful for the recognition. We're honored to be named among such inspiring organizations.
We're always expanding the functionality of our platform based upon our clients' feedback. Today we are pleased to announce that our Time-Off Tracking (PTO) Module has been enhanced to support weekend hours!
- Weekend Hours: if your business operates on Saturdays and/or Sundays, employees can now request weekend time off. Our restaurants have been asking for this for a long time!
- No more 8-hour full day limitations: we have added settings to customize how you define a full work day. If you have shorter hour days or have multiple shifts, you can now build this into your calendaring.
- Variable Full Days: this new feature allows employees to enter the number of hours including start-time and end-time they are requesting off.
- Dashboard Enhancements: we've cleaned up and enhanced the employee Time Off dashboard to provide more insights and better visuals without having to click through multiple screens.
Check back often for more product announcements. As always, we welcome our users' feedback, it's what makes our products great!
We are thrilled to announce that Adam Berkowitz has been selected to present at next week's DisruptHR event at Helium Comedy Club in St. Louis. DisruptHR is a high-energy idea forum designed to inform and empower executives, business leaders, people in the human resources field and anyone really, who is passionate about humans in the workplace.
Our topic: Restoring the American Dream: Delivering World Class Benefits to Your Employees at Half the Cost. Here's the catch...we have just 5 minutes and 20 slides to present our topic and slides will transition automatically every 15 seconds. This is sure to make for an entertaining evening.
If you are a business leader, a CEO, a technologist, a community leader, an HR professional, or someone who is simply passionate about new ideas in the workplace then DisruptHR is the place to be!
Come out to support, heckle, have a drink, and laugh with us. Thank you to all of my Health Rosetta cohorts for helping build out this content. This is going to be a fun event and a great networking opportunity. Tickets can be purchased here - be sure to get one before they sell out!
Simpara Founder and President, Adam Berkowitz, has formed an official partnership with the Missouri Society of Certified Public Accountants and their benefits team to deliver modern healthcare purchasing solutions for member CPAs and their respective businesses across the state.
Founder, Adam Berkowitz, was recently interviewed on Talk With The Top with Business Radio X St. Louis's Michael Greenberg. Check out the full audio interview and listen to Adam describe the early stages of founding and launching Simpara, why it was necessary to open a new agency, and how starting a family and launching a business were mutually beneficial.
For far too long employers have been told "this is just the way it is" when faced with another health insurance increase. "We shopped the same four carriers, we looked at different deductible options, and we got your renewal down to a 4% increase."
We say no more.
Over the last few months of 2017 and into the New Year, we’ve been working with our technology partners on exciting new releases to our HCM software. This is the result of your feedback and engagement over many months and we couldn’t be more thrilled to announce our first major release of 2018.
We couldn’t be prouder to be on the list of 20 rising stars in the industry but among thought-leaders and advisors for their impact, innovation, growth, and leadership moving our industry forward. We’re extremely grateful for this honor, and humbled by what it says about the kind of company Simpara is.