The PHMP is a fully insured limited benefit health plan designed to provide preventative, diagnostic, maintenance services and health coaching for employees centered on Population Health Improvement and Medical Risk Management. It is not a Wellness Plan.
Being a fully insured product the PHMP is approved and regulated by State Department of Insurance (DOI’s) and currently to date 35 DOI’s have approved the PHMP for marketing to consumers. Wellness Plans are NOT insurance products and they are regulated by the EEOC and Department of Labor.
The PHMP is underwritten by Companion Life an A+ (Superior) rated insurance company by AM Best and Companion Life is a BCBS affiliate.
The PHMP is complementary to an employer’s existing benefit package. It is not a replacement nor a substitution for any existing health insurance plan or other coverages the employer may offer.
Regarding employee engagement techniques, the disease management protocols adhered to and the data analytics generated that are centered on disease management and population health improvement are backed and protected by 4 U.S. Patents covering over 2 million people. These patents do not expire until 2030.
Unlike Wellness Plans, the PHMP structures and supports personal, individualized healthcare curriculums specific to each participant. Most Wellness Plans take more of a broad-brush approach with little to no personalization to the individual participant.
All the Nurses, Wellness Coaches, and Nutritionists supporting the participants of the PHMP are full-time employees of American Health Data Institute (AHDI), a sister company of Key Benefit Administrators. All AHDI Nurses are RN’s and all AHDI Wellness Coaches and Nutritionists are fully credentialed and certified in their respective fields.
The unique plan design of the PHMP combined with the financial structure of utilizing the applicable tax codes (IRS Section 125) provides the employer with a guaranteed Return on Investment (ROI) through payroll tax savings of more than $300 per year per participating employee. Furthermore, AHDI through the patented processes has a proven decades long track record of reducing medical spend on average of 11-17% per annum beginning 2nd year.
The average employee participating in the PHMP will witness an increase of 2-5% in spendable income per payroll cycle through a combination of tax savings and the claim payment received from Companion Life for participating in the PHMP.
Employees will also be able to save on out-of-pocket medical expenses through the use of geo-fencing technology and advanced comparative healthcare services pricing tools. Additionally, they will be able to reduce their Rx expenses by participating in the PHMP. Savings of hundreds and potentially thousands of dollars per year can be realized through the use of the PHMP.
The PHMP has had significant market acceptance with publicly traded corporations, numerous private employers and a growing number of public employers utilizing the PHMP to generate significant savings but more importantly improving the health of their populations.