Understand the Benefits Strategy
The Benefits Strategy is the approach an organization takes when offering the Remodel Health platform to its employees. Each Benefits Strategy consists of a Package, Add-On's, and a Funding Model that identifies the necessary Budget (Wage Increase) for each employee highlighting the overall financial impact to the organization, yet while stewarding the right resources. Add-ons are layered in alongside your Package and Funding Model to increase the overall benefits for your employees and limit their exposure.
How does it work?
The Benefits Strategy is very simple in its rawest form. It's the organizations approach that helps us deliver individualized benefits to employees. Our platform and team uses the strategy the organization defines to help employees understand their budget for purchasing a health plan or program in combination with any other benefits the organization provides to its employees.
Why is it called a Benefits Strategy?
We have expertise in helping shift organizations from traditional group health insurance plans to our individualized benefits platform. We come alongside your benefits decision makers and use our proprietary tools to craft the best Benefits Strategy for your organization. We call it a 'Benefits Strategy' because the shift to our platform is a strategic change for the organization. It's is an alternative approach for providing access to health benefits.
Can we change our Benefits Strategy?
The Benefits Strategy can be changed at any time, however we recommend only making changes once per year. Most of our clients do not change or adjust their strategy. Our platform shifts the organization from providing a health insurance benefits to providing a health insurance service, allowing the employees to leverage individual choices available to them and maintaining control of their personal benefits.
What is the funding model?
The funding model is the biggest part of the Benefits Strategy. It's the method an organization uses to arrive at how much they will contribute to employees, typically in taxable wages. In some situations, the funding model can take advantage of non-taxable arrangements. We offer two different approaches for If your organization has not offered health insurance to employees, we recommend the Flat Funding Model, whereas if you’re currently offering a group health insurance plan, you’ll likely use a Variable Funding Model. Both models help determine the monthly Budget for each employee, which is provided as taxable wages.