Innovative solution from a women-owned business seamlessly integrates the advantages of self-funding into fully-insured supplemental health plans, bringing employers transparency and control.
ATLANTA, Aug. 8, 2024 /PRNewswire/ — Today, Employees First, a women-owned business, announced their Benefits-Captive-as-a-Service™ solution for voluntary benefits. The solution employs a captive financial model that disrupts the legacy voluntary benefit industry by giving employers full transparency and greater control of their voluntary benefits, similar to self-funded health and welfare benefits. Dollars that were previously retained as industry profits can now be redirected towards increasing value for employees through enhanced benefits or lower costs.
“Our solution represents the next generation of voluntary benefits,” commented Amy Hollis, Employees First’s founder and CEO. “The accelerated growth of supplemental health plans, specifically Critical Illness, Hospital Indemnity and Accident/Injury benefits, is directly correlated to rising healthcare costs and unavoidable cost-shifting to employees. Typically, 100% of the premiums are paid by employees, and our program offers a way to help employers maximize the financial benefit for their employees.”
Hollis continued, “The supplemental health plan market has been notoriously opaque for employers, related to plan performance and compensation. Employees First is committed to transforming this industry by providing employers full transparency and greater control, a shift that is long overdue,”
With a broad panel of leading carriers, conversion can be simple with minimal disruption for the employer, and adopting the program can occur outside of the annual enrollment season. There is no difference for employers or employees related to the plan administration and policy service – the only differences are how the dollars flow, who sees the dollars and the pre-negotiated caps in all administrative fees. To ensure compliance, Employees First worked with leading firms in employee benefits law, to validate the structure per ERISA’s statutory requirements.
“We are excited to work with Employees First,” noted a senior benefits representative from a Fortune 100 client in the transportation industry. “Their innovative captive model has provided us with greater transparency and control over our supplemental health benefits, which has enabled us to use our resources more efficiently and invest more in our plans and employees. Additionally, we are pleased to partner with a women-owned business – amplifying our commitment to business diversity.”
About Employees First
Employees First, a women-owned company, has created a revolutionary offering that provides a pathway for large employers to obtain complete transparency and control of voluntary benefits, comparable to the control employers have for their self-insured health and welfare benefits. Employees First’s turn-key Benefits-Captive-as-a-Service™ approach was developed to create an ethical, transparent, and compliant model that converts unchecked industry profits into enhanced benefits for employees. By adopting the Employees First model, employers can be confident that they are putting their Employees First.
For more information, please visit www.myemployeesfirst.com.
Media Contact:
Katie Devlin
[email protected]
SOURCE Employees First
