Innovative solution from a women-owned
business seamlessly integrates the advantages of self-funding into
fully-insured supplemental health plans, bringing employers
transparency and control.
ATLANTA, Aug. 8, 2024
/PRNewswire/ -- Today, Employees First, a women-owned business,
announced their Benefits-Captive-as-a-Service™ solution for
voluntary benefits. The solution employs a captive financial model
that disrupts the legacy voluntary benefit industry by giving
employers full transparency and greater control of their voluntary
benefits, similar to self-funded health and welfare benefits.
Dollars that were previously retained as industry profits can now
be redirected towards increasing value for employees through
enhanced benefits or lower costs.
"Our solution represents the next generation of voluntary
benefits," commented Amy Hollis,
Employees First's founder and CEO. "The accelerated growth of
supplemental health plans, specifically Critical Illness, Hospital
Indemnity and Accident/Injury benefits, is directly correlated to
rising healthcare costs and unavoidable cost-shifting to employees.
Typically, 100% of the premiums are paid by employees, and our
program offers a way to help employers maximize the financial
benefit for their employees."
Hollis continued, "The supplemental health plan market has been
notoriously opaque for employers, related to plan performance and
compensation. Employees First is committed to transforming this
industry by providing employers full transparency and greater
control, a shift that is long overdue,"
With a broad panel of leading carriers, conversion can be simple
with minimal disruption for the employer, and adopting the program
can occur outside of the annual enrollment season. There is no
difference for employers or employees related to the plan
administration and policy service – the only differences are how
the dollars flow, who sees the dollars and the pre-negotiated caps
in all administrative fees. To ensure compliance, Employees First
worked with leading firms in employee benefits law, to validate the
structure per ERISA's statutory requirements.
"We are excited to work with Employees First," noted a senior
benefits representative from a Fortune 100 client in the
transportation industry. "Their innovative captive model has
provided us with greater transparency and control over our
supplemental health benefits, which has enabled us to use our
resources more efficiently and invest more in our plans and
employees. Additionally, we are pleased to partner with a
women-owned business – amplifying our commitment to business
diversity."
About Employees First
Employees First, a
women-owned company, has created a revolutionary offering that
provides a pathway for large employers to obtain complete
transparency and control of voluntary benefits, comparable to the
control employers have for their self-insured health and welfare
benefits. Employees First's turn-key Benefits-Captive-as-a-Service™
approach was developed to create an ethical, transparent, and
compliant model that converts unchecked industry profits into
enhanced benefits for employees. By adopting the Employees First
model, employers can be confident that they are putting
their Employees First.
For more information, please visit www.myemployeesfirst.com.
Media Contact:
Katie Devlin
katiedevlin@envhs.com
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SOURCE Employees First