Two expenses are crippling American businesses: employee health insurance and decreasing employee productivity due to absence and illness.
Therefore, we are spending more and more money for sicker and sicker employees.
The National Conference of State Legislatures reports annual health insurance premiums reached $18,764 for 2017, up 3 percent from 2015 for an average family coverage, with workers on average paying $5,714 towards the cost of their coverage.*
Next, the National Center for Biotechnology Information reports decreased on-the-job productivity and increased employee absence because of health, resulting in significant costs to employers above and beyond health care spending. Health-related work losses are estimated to cost US employers more than $260 billion each year, and may cost some companies more than direct medical expenditures.**
"Would you give your employee a company credit card with no limit and a license to spend freely? Of course not. But that’s exactly what we do when we give them an insurance card, and their primary concern is how many expenses they can get it to cover. And we all pay for it." - Dave Chase, cofounder Health Rosetta.
* Figures reported by Kaiser Employer Survey, September, 2017, applying to employer-based insurance.
How does it work?
There are no participation requirements with our Medical Cost Sharing. We can work alongside traditional group health insurance plans.
We offer an alternative with our TLP Wellness Program that saves everyone money and incentivizes a healthy lifestyle. For those who desire TLP, they simply opt out of the current company program.*
With True Life Protect, the employee would simply join membership with TLP. Your company sponsors the Wellness Program, saving up to 60% for everyone.
You have an employee named Brett with a family of five. Brett currently has $490.18 taken out of his paycheck monthly for his 30% of the premium (the national average is a 70/30 split between employer and employee). In the event of an accident, emergency, or unexpected illness, Brett will pay the first $7,000 out of pocket.
Brett may not even be aware how much is being taken out of his pay and what it is really costing him and your company. Whether he is leading a healthy lifestyle or not is unknown. If he is, there is no financial incentive in regards to his health care costs. If he is not, your company is paying an even higher price for Brett's lower productivity.
With True Life Alliance, Brett will join our membership for $19.99 per month and qualify for Medical Cost Sharing that will cost Brett only $225 per month. This immediate monthly savings of $265.18 will result in an annual savings for his family of $3,182.16. You just gave Brett's family a substantial pay raise!
BONUS: If Brett fulfills some healthy activities and qualifies with some healthy measurements, he can “earn his way down” to only $125 per month. This would equate to an overall savings of $4,382.16 for Brett.
Now your company is currently spending $1,143.77/month on Brett’s health insurance. In our Wellness Sponsorship Program, companies of any size stand to save an average of 55%. Plus you now have a happier and healthier employee which equates to bottom line profit. Just imagine, fewer sick days, more productive work days, and a “weller” employee who is also more grateful.
*While it is often thought you are locked in, this is not the case. Employees routinely opt out due to 1) Resigning, 2) Getting fired, or 3) Their spouse getting a better health insurance plan at their employment. The "open window" refers to when they can opt IN.
Your company saves up to 60% on your annual health care costs. For even small companies, that should be six figures, and for many, it will be seven.
- You are now a hero to your employees because most just got a big raise (on average, $315 per month for family plans and almost $100 per month for an individual).
- With the dramatic amount of money saved by the company, many companies go further with options to give a pay raise with some of the savings, or fund an HSA (an add-on component that is optional and separate from our Medical Cost Sharing program).
- The employee is now appropriately engaged in their health care, which is better for health awareness and financial accountability.
- The employee is incentivized to get healthier, which results in more productivity.
As each company plan is unique to how you are currently providing health benefits, it requires a personal conversation. Contact us via any of the options below, and you will be contacted by True Life Alliance co-founder, Kevin Miller.
Chat: It is often live with a pop-out located in the bottom right of every page. You can also leave a message that will alert us.
Phone: (877) 968-8772 - During our 500 "Early Adopter" enrollment time, the phone is not manned live, but leave a message at the appropriate extension and we will get with you quickly!