Thanks to Lucent Health, trend has been maintained at 3% or less!
About the Client
Our client is a large national retail client with stores and offices in over 40 states and just under 3,900 employees on the plan.
Pain Points & Priorities
The client, to control costs with a former broker, had separate HMO plans in at least 30 sites in addition to a PPO network. Their biggest asset is their size but they were not leveraging that strength. They were looking for a health plan administrator who could offer operational simplification and cost control.
Finally, a health plan solution that delivers 20% or more in additional savings over a traditional PPO plan, complete access to your plan’s data on a daily basis, better benefits for your employees and an option to provide 24/7 concierge care for the member.
Impact & Results
Since moving to Lucent Health 11 years ago, trend has been maintained at 3% or less (down from their previous 12% trend) through aggressive management of claims and RX and instituting unique plan designs. They now have a daily dashboard so both the client and broker can monitor plan results in real time.
The client and broker are considering implementing Value-Based Pricing in one or all their plans. They are watching the possible revisions to ACA to see if other affordable health plans could be offered in the future.