Written by By Sharael Kolberg, California Business Journal
By using prediction, prevention, and industry-leading technology – which rewards participants by lowering their health insurance deductibles — BeniComp Health Solutions is preventing — or in some cases reversing — chronic health conditions while simultaneously saving potentially thousands of dollars on health insurance.
“BeniComp is addressing two of the biggest challenges in the industry: skyrocketing healthcare costs and the prevalence of chronic disease,” says Steve Presser, president and COO. “By providing organizations with inventive solutions to sustain the health of the workforce and drive cost savings, we are taking health insurance where it has never gone before.
“There are a lot of companies in our space, but there is absolutely no one doing what we are doing.”
BeniComp’s core focus is Preventive Health Management (PHM), which uses innovative health technology and health professionals to put information into the hands of participating employees and spouses and provides tools to accomplish lifestyle changes to improve their health.
“We empower people with their own data,” Presser says. “The rest of the industry is focused on cost; we are focused on cause. What is the root cause of the claims and the health of the employees? We can lower healthcare costs based on actual data.”
BeniComp’s IncentiCare program is a self-funded health plan solution that helps company’s employees save money. Through the program, “employees are able to earn thousands of dollars toward lower deductibles by participating in an annual health screening and meeting screening goals. This option doesn’t exist in any other insurance product,” Presser says.
Competitors do not offer it, Presser says, because health insurance industry “has been the same for years and years and years. When companies become so big, it becomes difficult to be creative or pivot.”