Shine Solar knew there was a better way to do things. Their journey to discover exactly how they could improve their healthcare spend and employee benefits plan led them to Simpara.
“We immediately connected with the message Simpara conveyed about taking control of our own healthcare spend and direct contracting,” said Lance Young, HR Director at Shine Solar, a solar installation and energy services company based in Arkansas. The opportunity to work with Adam to provide amazing benefits to their employees while slashing their costs, not only resonated with Shine Solar’s board, but convinced them to make the switch to become self-insured.
“Self-funding is all about control” says Adam Berkowitz, president of Simpara. “Just like Shine does for their consumers, enabling them to own and control their own energy production, we’re doing the same thing for health insurance - which happens to be one of the single largest line items on their P&L and for years others told them was impossible.”
A $0 Deductible is Not Just Possible, It’s Affordable
That decision led to a significant pivot in how their health plan is structured. In an environment where costs tend to go up every year and employers face the decision of paying more for health insurance or scaling back benefits, Shine Solar worked with Simpara to roll out a healthcare program that almost seems too good to be true. Their employees will now have a $0 deductible and their premiums have been cut in half.
Unsurprisingly, this change has been met with incredible enthusiasm from Shine Solar staff, who truly appreciate the work that went into creating this solution. “It’s one thing to see and sell a vision,” Young said. “It’s another thing to execute and follow the plan. I’m excited to see the quality of care while receiving the savings, not just for our company but for our employees!”
The Cure Businesses Need
As far as advising other employers looking for a better way of approaching employee benefits, Young said, “the first step is realizing that there are other ways of providing care than the ‘gold standard’ of the high price, high profit plans brokers offer. Health Rosetta’s system of looking at the root causes of high-priced, low quality plans is the cure business’ need to take control of their costs and provide the care employees need.”
While diving into the waters of self-insurance can be daunting, Young reiterates that “with any risk there is an opportunity for reward.” “In our case the numbers made it a win-win situation which is rare in business,” he said. “Normally either the company or the employee has to pony up more money, but Adam and Simpara got it to where it made sense for us to make the move."
Time to Take Control
Is your business looking for a better way provide benefits? Make 2021 the year you decide to take control of your healthcare costs. Shoot us a note, we’d love to connect and share more stories like Shine’s and how we can help you too!
