Take a look at the big picture

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Information about Take a look at the big picture
Healthcare

Published on May 7, 2014

Author: SamBodner

Source: slideshare.net

Description

Let’s talk out-of-pocket costs. They’re a major factor when considering which benefits provider to choose. But how do you know which company gives you the best bang for you buck?

We’ll show you how to look at the big picture – and how to compare the real data – to make the best decision.

Take a look at the big picture The truth about out-of-pocket costs

We have a 99%client satisfaction rate. Lower prices, higher satisfaction Let’s talk out-of-pocket costs. They’re a major factor when considering which benefits provider to choose. But how do you know which company gives you the best bang for you buck? We’ll show you how to look at the big picture – and how to compare the real data – to make the best decision.

She’s a benefits administrator comparing out-of-pocket expenses for an organization with 2,500 employees. And she’s found that benefit companies use information differently. Take Kim here

Like comparing a plan with fixed lens options to a non-fixed plan. Or comparing less expensive plastic lenses to high index ones.

Kim discovers that making an informed decision about out-of-pocket costs means looking at the big picture. Not just at one transaction … but at millions. vs.

Here’s what she finds EyeMed has built its plan around the way employees actually use vision benefits: various vision correction needs, the percentage of utilization, and even the fact that 15% of her employees will likely purchase additional eyewear. Employees want a plan that fits their specific needs and budget. 15purchase a 2nd pair 29% 29% 42% How our members purchase Single vision Progressive lenses Contact lenses % OFF

In addition to the average frame price, our analysis considers the most popular lenses, lens options and contact lenses – Varilux Comfort, Crizal Alizé UV and Acuvue Oasys, for example –to reflect employee preferences. Varilux® is a licensed trademark of Essilor International. Crizal® Alize is a licensed trademark of Essilor International. Acuvue® Oasys is a licensed trademark of Vistakon, a subsidiary of Johnson & Johnson.

11EyeMed advantage Out-of-pocket costs for EyeMed members are $11 less than our largest competitor.* Combine these lower costs with our unparalleled network, and your employees get a truly valuable member experience. * Based on the EyeMed Insight Network. $10 material co-pay/$120 frame or contact allowance $ Single vision Progressive lenses Contact lenses Second pair $ 100 200 300 400 EyeMed Largest competitor

Kim finds that whether her employees want to go to an independent provider or one of the top retailers in the nation, EyeMed gives them the ability to stay in network. Unlike other benefits companies where they might pay hundreds of dollars more to see the same provider, just because they’re out of network. With EyeMed, Kim can expect of her employees to stay in network. 96%more than

Kim crunches the numbers and realizes that her company’s membership actually could see thousands in total annual savings – just from more employees using benefits inside the network.

Consider these questions when thinking about out-of-pocket costs

Do the sample transactions compare similar network/plan types? Yes 1 No Learn more at StartHere.EyeMed.com/Savings

Do the sample transactions compare similar network/plan types? Yes 1 No No! Some companies compare transactions on their fixed-cost plans vs. the non-fixed plans of their competition. Learn more at StartHere.EyeMed.com/Savings

Are all vision correction needs (single vision, progressive lenses and contact lenses) represented? Yes 2 No Learn more at StartHere.EyeMed.com/Savings

Are all vision correction needs (single vision, progressive lenses and contact lenses) represented? Yes 2 No No! Some companies show just one type of transaction. Learn more at StartHere.EyeMed.com/Savings

Do the sample transactions reflect what members buy – the most common price points, most popular lenses and add-ons? Yes 3 No Learn more at StartHere.EyeMed.com/Savings

Do the sample transactions reflect what members buy – the most common price points, most popular lenses and add-ons? Yes 3 No No! Some companies use less expensive proprietary brands in their transaction examples instead of the most common ones. Learn more at StartHere.EyeMed.com/Savings

Does the assessment reflect other out-of-pocket factors? Yes 4 No Learn more at StartHere.EyeMed.com/Savings

Does the assessment reflect other out-of-pocket factors? Yes 4 No No! Some comparisons neglect to consider important out-of-pocket costs like additional pairs and non-covered items. Learn more at StartHere.EyeMed.com/Savings

Are all discounts reflected in the transaction honored at all locations in the network? Yes 5 No Learn more at StartHere.EyeMed.com/Savings

Are all discounts reflected in the transaction honored at all locations in the network? Yes 5 No No! Some comparisons may not be honored or applied consistently across all providers in the network. Learn more at StartHere.EyeMed.com/Savings

The bottom line When you look at how millions of real people use their benefits and what they typically purchase, you’ll find savings. Download the EyeMed overview to learn more.

See Kim in action Watch her compare EyeMed to other vision benefits providers. Seeing is believing!

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