Trite as it sounds, health indeed is wealth. For companies that provide health coverage for their workers, this may not only be metaphorical, it can be quite literal.
Most companies today provide their employees health coverage through Health Maintenance Organizations or HMOs. Under an HMO system, the company pays the HMO a certain amount for the coverage of an employee. Covered employees may then seek medical attention in various hospitals and clinics, and the costs are covered by the HMO whether partially or totally. The amount paid by the company to the HMO may, however, be adjusted depending on the frequency of usage of the HMO facility by the employees. Simply put, with higher utilization comes higher costs.
Let us examine this cost. Directly, the increase in utilization of the HMO facility will force the HMO to charge the company a higher fee in order for it to recoup its expenses in paying hospitals and doctors for tests and consultations. There is therefore a resulting increase in costs to maintain health coverage which the company is paying for. There is however an indirect cost to the company as well. Increased utilization of HMO facilities may be indicative of the poor general health of the employees or worse, that the workplace is conducive to create health problems, due perhaps to stressful or harmful working conditions. This results in the loss of man hours and the decline in average productivity. Clearly, this results in lost revenue and thus lost income. It is therefore of paramount importance for the company to address these health concerns to lower costs and increase productivity. This is where Trinity comes in.
Trinity has always been at the forefront of customizing their services to address the specific needs of their customers when it comes to health coverage. Trinity has previously claimed that, “We can assist you in getting the ideal program tailored to your needs. We will help you design, implement and manage a cost-effective benefits program that is structured to reduce costs, improve workforce productivity and ultimately, mitigate your turnover rate.” As a case in point, when no one thought to provide HMO packages for seafarers Trinity created a healthcare/medical insurance package for them and their family. This covers the crew while they are on vacation in the Philippines, while the spouse and children are covered on a year round basis, giving a sense of security on both principals’ and dependents’ end. Before long, captains, officers, crew members and land based personnel received the same right to health benefits, the same access to the best medical facilities and the same care and security that are being received and enjoyed by employees in other industries. Through Trinity’s programs, enrolled seafarers now enjoy the following major benefits and services under the program:
- In-Patient (Hospital confinement) Benefits
- Out-Patient (Consultation/Laboratories) Benefits
- Annual Physical Examination
- Emergency Care Benefits
- Financial Assistance Benefits (in case of death of the Crew)
- Dental Benefits
As a result, Trinity has cornered a huge portfolio in the manning industry includes 5 major agencies in the country that belong to the top 10 most outstanding manning agencies who are recipients of the Presidential Award of Excellence for 2017.
Thankfully, Trinity’s brand of innovative, personalized and cost-effective service is not limited to the manning industry. In its 30 years of experience in providing high quality professional service, they have built a trusted and harmonious relationship with their clients. In collaborating with Trinity, clients are led by hand to come up with a forward thinking strategy that is tailored to the health and welfare needs their client’s employees. To achieve this Trinity goes through with its customers, the following detailed process:
- Audit of the healthcare benefits to determine possible changes or improvements to existing benefit program; they assure their customers that they are well-protected under their insurance policies.
- Preparation of comparative analysis reports, summarizing the different proposals submitted by providers with recommendations.
- Continuous monitoring of programs installation and administration, which includes giving of orientation (in absence of provider’s representative) to ensure smooth implementation of the healthcare program
- Close coordination with insurance provider with regards to claims and availment.
- Pre-screening of claim documents to ensure its completeness before sending to provider and follow-up the same to ensure faster results
- Monitoring of utilization on a pre-agreed schedule and come-up with utilization analysis so as to determine the level of utilization as against paid premium
- Conduct policy audit before renewal & secure proposals from other providers for comparison purposes
- Submission of renewal proposal with comparative benefits and cost analysis 30 days before renewal date
The Trinity brand of service however is also forward thinking. As the courage to innovate is part of the core values of the company, they constantly drive to improve their service and introduce novel ideas. One example is that Trinity has started to offer a free wellness program encompassing health lectures/seminars, diet coaching, menu evaluation, monthly health bulletins. Trinity’s wellness program is there to help its clients get the most out of their health care investment, ensure that employees get healthy, stay healthy and manage conditions better which could ultimately result to managed utilization cost. They are working on providing their clients access to tools and information to help their employees make informed health related decisions that could help mitigate healthcare spending.
Why is this significant you may ask? This is a step in the right direction because a productive employee is one who is physically and mentally healthy and most importantly, happy about what the company he belongs to can offer to help improve his well-being. Employers nowadays are very much aware of the importance of creating a healthy workforce to improve their businesses through increased productivity of employees. In addition, employers know that medically high-risk employees are medically high-cost employees as they use more healthcare and generate higher claim costs than their low-risk co-workers. Ultimately, a healthy workforce is a happy workforce. A healthy workforce is a productive workforce. A healthy workforce is a dynamic workforce. Efficiency will not be hampered while the cost of maintaining coverage under an HMO is managed and maintained. In the end, the bottom line of the company can only improve. This is a win-win for both management and labor.
At Trinity, customers are assured that they would not only get the most suitable program design aligned to your operational budget and goals but would also expect to get the necessary assistance to address all service-related issues, i.e. billing problems, claim issues, addition or deletion of employees and dependents and changing of primary care doctors—as well as follow-up on all these matters to ensure resolution. They are also on hand to monitor and challenge providers to ensure that covered customers are treated fairly and get the service they deserve.
Allow Trinity to be your partner in designing a healthcare program for your company’s employees. Their expert advisors are ready and eager to address your needs and concerns. Contact Trinity now and experience the benefits of true personalized service.