Open Enrollment
 

Situation: Hundreds of employees need to review plan choices - as number of plans offered expands from 3 to 4 in an effort to increase participation in high deductible plans   

Question: Can employee interviews be efficiently conducted in order to build this increased participation?    

Analysis: Load plans into MHM system. Conduct current Projected Medical Usage interviews (commenced before 10 day Open Enrollment; analyses were sent after new plans finalized)   

Result: 24% increase in high deductible plan enrollment (previous years' movement to high deductible plans was  <1%)  

Savings:

  • Employer achieves reduction in annual premium contributions of more than $15,000 
  • Employer achieves reduction in annual claim charges of more than $100,000 
  • Employees gain over $93,000 in aggregate annual savings (average of $2,278 per employee that changed plans)  

Employee's spouse takes a new job 

Situation: MyHealthMath client company employee's spouse takes a new job   

Question: Premium support at both firms makes is obvious that both spouses should be on their own plan. Which plan should the children be on (one has medical issues)?    

Analysis: Load both sets of insurance plans into MHM system. Conduct current Projected Medical Usage interview. Run optimization analysis 

Result: Children move to new employer's plan  

Savings:

  • Family saves more than $4,000 annually in premium and medical payments.  
  • MyHealthMath employer client achieves reduction in claim charges from dependents being moved off of their plan. 

COBRA Comparison

Situation:MyHealthMath customer has reduction in force in July 2015. 80% of departed employees are still on COBRA as of December 2015, when employer contracts with MHM for COBRA module  

Question: Does Individual Marketplace, with lower premiums but higher cost sharing, make sense for COBRA employees?   

Analysis: Load Individual Marketplace plans. Conduct current Projected Medical Usage interview. Run optimization analyses)  

Result: 95% of departed employees move to Individual Marketplace within 2 weeks 

Savings:

  • Departed employees save between $400 and $1,200 per month 
  • MyHealthMath employer customer saves administrative costs and eliminates claim exposure on departed employees 

Spouse plan comparison 

Situation: MyHealthMath customer employee's spouse also has access to a group plan through their employer  

Question: Which plan should be used?    

Analysis: Input spouse's employer plans into MHM system, conduct current Projected Medical Usage interview, and run optimization analysis across both sets of plans (8 total)  

Result: Family moves to the spouse's plan 

Savings:

  • Family saves $802 annually in premium and medical payments 
  • Employer saves $11,652 annually in premium support contributions 
  • Employer saves annually from their claims being moved to other employer  

Contact Us

For more information please call us at (207) 221-0201 or email us at info@myhealthmath.com

16 Casco Street Suite 101 Portland, Maine 04101

10 Mall Road Suite 206 Burlington, MA 01803