MyHealthMath (MHM) is an independent, third-party service that helps employers and employees make strategic decisions about their health plans.
MHM’s goal is to calculate the most efficient health coverage for each employee’s medical needs and give employers insight for their benefits planning process.
We believe everyone should be able to make informed decisions about their benefits.
After you sign up for your phone appointment, an MHM Decision Support Analyst will call you at your selected date and time. We guide you through a brief series of medical questions about what types of medical services and/or prescriptions you, and anyone else on the plan, will utilize in the coming year. Or, if you choose to use OnlinePlus, we provide a secure portal with questions that help you describe your potential usage to us.
Your medical services and prescriptions are then entered into our proprietary software which processes this usage through each plan, performing tens of thousands of calculations to find the lowest combination of premiums and out-of-pocket expenses.
With this information, we provide you with a customized estimate ranking your plans in order of potential savings. The estimate is emailed directly to you, typically within 2-3 business days, for you to utilize as a cost comparison guide when selecting your benefits.
No. MHM does not collect social security numbers, home address, or any personal financial information. You decide how much of your medical usage to share, and all participation is voluntary!
To provide a cost estimate, we need your first & last name, home zip code, phone number, employer, e-mail address, and date of birth. All of this information is used exclusively for the purpose of providing our services.
Absolutely. MHM never shares your specific medical usage information with your employer, health insurance carrier, or any other party. All information is stored securely in strict compliance with HIPAA standards.
No. Our cost estimates are for you to use as a guide while looking through your plan offerings. They are for informed decision-making purposes only. You will still need to enroll through your employer’s HR team. We do not share information you provide with your employer, health insurance carrier, or any other party, and participating does not tie you to any specific medical services.
Specific plan questions such as, “what services are covered with a copay” and “which services are subject to the deductible and/or out of pocket maximum,” should be directed to your HR Department or through your employer’s Employee Portal, if applicable. We are not a benefits consultancy.
MHM collects basic health usage information—such as frequency of doctor visits, labs, medications, planned surgeries, etc.—for each person who will be covered by the plan. Prescription medications can have a significant effect on costs, so we highly recommend providing us with as much Rx information as you have available. This includes the name of your prescriptions, whether they are generic or brand, the quantity of pills per bottle, and how frequently you get them filled.
Your savings estimate shows you how much you could save with each plan you are being offered compared to your most expensive option. The annual premium, out of pocket expenses (copays, coinsurance, deductible), and worst-case scenario (the most you would pay in a plan year) are broken-down for each plan on the second page, as well as any HSA/HRA contributions, employer matches, or tax savings you could have.
We present you with a visual break down of each plan showing your annual premium, deductible, out-of-pocket expenses, and any other factors on the plan, such as a personal or employer contribution to an HSA (Health Savings Account) or HRA (Health Reimbursement Arrangement). Looking at the whole picture of your annual healthcare expenses allows us to estimate what each plan will cost you. Then, you can make an informed decision. The average person who engages with us saves $1,300 on their health expenses in a year.
Emails are typically sent within 2-3 business days for phone calls and 1-2 business days for OnlinePlus. In some cases, we may hold your estimates until the beginning of your open enrollment period, should you engage with us beforehand. This timeline is typically determined by your employer!
Providing us with accurate information about upcoming services and medications ensures that our estimate comes as close as possible to your actual expenditures.
Our system analyzes your projected usage to understand which plans provide the most efficient coverage for you. We’re meticulous about getting your plan details right, but our calculations are only as good as the information you provide. Unreported expenses and unforeseen circumstances will affect your actual savings, so always keep the “worst case scenario” on your estimate in mind when planning for the coming year.
Yes! We can send you multiple cost estimates for different scenarios you might encounter. Make sure to indicate this alternative scenario during your phone call. For OnlinePlus users, simply re-take the survey! You will receive each scenario in a separate email.
No. Currently, we only factor in your health insurance plans (no separate vision or dental plans). However, if your health insurance plans cover an annual / bi-annual routine vision screening, that is included in the estimate because it is included in your health insurance plan coverage.
Yes, we can send it to any email address you prefer.
Yes! We encourage you to utilize any family members who may help increase the accuracy of the information you provide!
MyHealthMath offers claims-based report cards to qualifying clients. Report cards are another tool to help employees understand the impact of their benefits decisions. Report cards compare medical claims from your insurer with the health plan options you had, and the actual plan selection that you made last year, to show how well your coverage choice matched your actual needs. Report cards demonstrate actually how cost-effective your health plan was for you, showing real savings or losses.
You can opt-in to receive a claims-based report card on your employer’s MyHealthMath landing page. It takes less than a minute!
Yes, ideally you will get both! Report cards show you how much you could have saved last year. Then engage with us, receive your comparative savings estimate, and determine the best plan for you going forward!
Occasionally our system is not able to find enough of your medical claims to make a meaningful analysis of your plan choice from last year. If this is the case, you should still schedule a phone call or use OnlinePlus so that we can provide you with a savings estimate for the future!
Report cards are typically emailed within 1 business day of your opt-in.
In order to gain the best understanding of your medical usage over an entire year, MyHealthMath uses claims from the most recent complete plan year to generate a Report Card. We understand that your utilization may have changed since then and would encourage you to schedule a phone call with one of our analysts or complete OnlinePlus with updated information to get the most up to date Comparative Savings Estimate for your next plan year.