Navigating the Evolution of Employee Health Benefits: Insights from a Community Event

by | May 28, 2024 | Uncategorized

In a recent gathering hosted by Kimmel Benefits+, innovative business owners convened to explore the shifting landscape of employee health benefits. Kimmel Benefits+ orchestrated the event with a clear vision: to create an engaging platform for dialogue about healthcare, a topic often obscured by complexity and uncertainty.

“The intention was to make it fun, engaging, and informative,” remarked Cindy Kimmel, company founder and Benefits Advisor. “We wanted to bring together like-minded community partners who are passionate about helping employers control costs and provide quality benefits.”

The event aimed to address common pain points employers face, including rising prescription costs, limited access to information, and the perpetual challenge of balancing benefit value with escalating costs. 

At the event, Cindy and guest speakers Dr. Chad Krisel of Integrative Family Medicine, Evan Bruder of Sona Benefits, and Sean Kerschen, CFO of Kimmel & Associates, urged employers to collaborate with partners capable of formulating strategies to reduce costs while enhancing benefits for employees.

Attendees were given a glimpse of the current climate of health benefits and educated about emerging alternatives that many businesses are not aware of. 

“The definition of insanity, in the benefits world, is continuing your insurance plan with a major carrier and being surprised when premiums and deductibles keep climbing,” Kimmel noted. “Businesses need to explore options beyond traditional plans.”

Indeed, the benefits landscape is shifting towards innovative solutions such as Direct Primary Care, Level Funded or Self-Funded Plans, and Health Shares. These alternatives not only offer cost savings but also resonate with employees seeking personalized, high-quality care.

However, adopting non-traditional solutions comes with its own set of challenges. Many businesses are not aware of alternatives because their brokers are not ready to leave the status quo due to misaligned incentives with the major carriers, leaving employers to navigate the perceived risks on their own. “It seems too good to be true,” remarked one attendee. “But we can learn from businesses that have taken the leap and are willing to share their success stories.”

For those ready to explore new avenues,  Kimmel offered valuable advice. “Learn about Direct Primary Care, work with unbiased benefit advisors, and educate yourself,” she recommended. “If we can shift our paradigm on how to pay for healthcare, we will localize healthcare, provide better care for our employees, and reinvest in our communities.”

The event also showcased success stories from businesses that have embraced innovative approaches to employee health benefits. Sean Kerschen, CFO of Kimmel & Associates, shared his company’s journey towards a self-funded health plan. “Having partners that can help you navigate the industry is a win-win,” he emphasized. “We pride ourselves on having improved our employees’ lives while saving costs.”

Nate Goodman, Founder and Owner of Goodman CPA, highlighted the transformative impact of Direct Primary Care (DPC). “It allows us to offer premium health benefits at an affordable cost with personalized care,” he explained. Not only does Goodman CPA use DPC, but the company also specializes in providing accounting services for DPC practices. DPC is a no-brainer when it comes to keeping money in your pocket.”

The event served as a beacon of hope for innovative business owners navigating the complex world of employee health benefits. By exploring non-traditional solutions, educating themselves, and fostering community partnerships, businesses can chart a course toward a healthier, more sustainable future for their employees and their bottom line.