Health Compass Consulting

Your CFO has no training in benefits… And they’re about to make decisions that impact everyone in your organization. But it’s ok… We’re going to give them the basic information necessary to maximize the return on your benefits investments. In other words, if they follow our content, they’ll be able to improve coverage next year. AND reduce costs! Seeing that most companies currently overpay for benefits by ~$2,500 per employee per year, this is entirely possible. And we show companies how to do it every day. Leading up to Renewal Season we will dive into some key questions starting with… Can we hire a fee-based benefits firm to build us a health plan - WITHOUT replacing our broker? ANSWER: Yes, employers can hire fee-based firms to build high-performance health plans, recommend bolt-on risk management solutions, or be available for ongoing consultation through a retainer. More Questions? Download the Ultimate Buyers Guide.  🎯Click link in profile and improve your benefits today 🎯 AND, Stay tuned for more insights and tips to help you navigate the renewal process. ♻️If you know other CFOs and HR Directors who could use help in this area, please repost ♻️ #Benefits #HR #Quiz #HealthInsurance #HealthBenefits #renewalseason #employeebenefits #healthcare #insurance Health Compass Consulting

With Renewal Season on the horizon, this is a MUST ATTEND session! Introduction to Employee Benefits for Busy Executives TODAY at NOON. Details Below.

Your benefits firm is supposed to maximize the return on your benefits investments. Your benefits are supposed to help you attract and retain talent. Your employees are supposed to help you achieve your business objectives. Your business is supposed to solve problems for people who care. Most companies overpay for benefits by ~$2,500 per employee per year. This undermines everything else in the value chain. You can stop the cycle this renewal season.

Finance & HR teams --- join us tomorrow!

🎯If you need clarity on your benefits, apply for a complimentary 1:1 benefits strategy session by answering 25 simple questions.

Health Compass Consulting CEO Donovan Pyle, Named Contributor for BenefitsPRO Magazine   Orlando, FL, October 2024 – Health Compass Consulting is pleased to announce that its CEO, Donovan Pyle, has been appointed as a contributor for BenefitsPRO magazine.   BenefitsPRO is a well-respected online platform for benefits professionals, providing insights into the dynamic and evolving benefits market.   With U.S. employers spending over $1.4 trillion annually on healthcare, the need for sustainable approaches to financing and procuring healthcare and other benefits has never been greater. Donovan Pyle, CEO of Health Compass Consulting, expressed his enthusiasm about this new opportunity, stating, "The old ways of managing benefits are no longer viable, and I am eager to share my insights with the BenefitsPRO audience."   This collaboration aims to offer valuable perspectives and expertise to benefits professionals as they navigate the complexities of the industry. Donovan Pyle's contributions are expected to provide fresh insights into the challenges and opportunities within the benefits market. About Health Compass Consulting: Founded in 2018, Health Compass Consulting is among the pioneering fee-based companies in the United States, specializing in benefits consulting, procurement, and management. The company is dedicated to catering to organizations with workforces ranging from 100 to 10,000 employees across the country, focusing on reshaping how employee benefit programs are designed, implemented, and optimized. Visit https://lnkd.in/d-6rXFy or call (800) 709-0515 for more information.

Here’s how one National Franchise Avoided $4.5 Million In Department Of Labor Fines. Problem: A national franchise’s self-insured health plan was running poorly, and this was negatively impacting their 80 franchisees. The organization had made several aggressive changes to how healthcare was financed and procured but was not confident that their broker was giving them good advice on how healthcare dollars should be invested. Action: Health Compass Consulting’s Health Insurance Strategy Assessment (HISA) put a microscope on their broker’s recommendations and decisions that had been made over the past 4 years. Results: While Health Compass agreed with many of the recommendations the broker had made, they discovered one potentially catastrophic risk that had been overlooked. Since all 80 of the company's franchises were independently owned and operated, the company had unintentionally created a Multiple Employer Welfare Arrangement (MEWA) that -- if discovered by the Department of Labor -- would result in approximately $4.5 million dollars in fines to the company. By getting objective, expert, advice from Health Compass Consulting, the Franchise dodged what would have been a catastrophic fine from the Department of Labor. 🎯If you’re concerned about your company's health plan, apply for a complimentary 1:1 benefits strategy session by answering 25 simple questions. Visit my profile to learn more. #Benefits #HR #Quiz #HealthInsurance #HealthBenefits

Employers pay for healthcare --- not insurance companies. This is why employers need to understand their healthcare supply chain. This is why employers need to work with vendors whose business models and financial interests are aligned with theirs. Failing to do so results in runaway inflation on your second-largest expense. It's not sustainable. It's not necessary. You can fix it. If you'd like to apply for a complimentary 1:1 benefits strategy session, visit my profile.

Are healthcare costs eroding your profit margins? (Hint: they don’t have to) The insurance industry has convinced many employers that “healthcare costs just go up every year” and “there’s not too much anyone can do about it”. This self-fulfilling narrative benefits the insurance industry — not you. If you want to protect your company’s margins and create more value for your team, here are the key areas that require your attention… Strategic Planning: are you following a clear multi-year roadmap for how healthcare should be financed and procured? Cost Control: can you see the unit prices your plan pays for hospitalizations, surgeries, labs, imaging, and drugs? Employee Engagement: do your employees know how to get the most value from your plan? Compliance: are you upholding your fiduciary responsibilities to maximize the return on your benefits investment? Broker Performance: has your broker disclosed their financial conflicts of interest to you? Do they make more money when your costs go up? Is your benefits program prepared for 2025? 🎯Take our benefits quiz and find out. Type the word “QUIZ” in the comments, and I’ll send it to you. #Benefits #HR #Quiz . PS: If you know other HR Pros at technology companies who could use help in this area, please repost ♻️

Are you looking for strategies to: ✅Reduce healthcare costs without sacrificing coverage ✅Negotiate better rates with insurance providers ✅Retain talent If so, let's connect! We are passionate at Health Compass Consulting about helping HR and Finance teams optimize their health benefits programs. Answer 25 simple questions to join our waitlist ⬇️  Click link in profile and improve your benefits today. ☑️  We share insights, tips, & strategies to innovate your benefit. Follow along for more insights.    #HR #Benefits #RenewalSeason #employeebenefits #benefitsrenewal #Finance #Healthcare #Benefits #Tech #ProfessionalServices