What No Network Can Actually Mean for Your Business

What No Network Can Actually Mean for Your Business What no network can actually mean for your business. With rising healthcare costs and employee retention and recruitment to consider, many employers are reviewing their healthcare plans, looking for affordable alternatives that can support their people. While some employers negotiate premiums or contemplate health savings accounts (HSAs), others are discovering the benefits of self-funding with referenced-based pricing.


Implementing self-funding with this reimbursement model can help lower healthcare costs for employers and employees but also provide flexibility and transparency within your healthcare program. Unlike a traditional plan, where costs are determined by the insurance company, a plan that utilizes reference-based pricing offers the ability to better predict and contain costs by using specialized price methodologies. Employers can then use this information to set their predetermined maximum amount of reimbursement.

This transparency also helps employees by gaining access to information about the cost of services offered at one facility versus another as well as the quality of care received between different providers. And because employees are not confined to a network, they have access to a larger selection of healthcare services and providers. For example, they are no longer required to go to a specific hospital when another can offer stronger or more affordable care. Employees can make their own decisions about their individual care, giving them more choice— an offer they can appreciate.


A recent survey by Qualtrics International shows over 40% of working parents have looked for a new or second job. Dr. Benjamin Granger, who is Chief Workplace Psychologist at Qualtrics, adds “Employee turnover is a huge cost for companies, so it’s business critical for organizations to understand which of their employees are likely to leave and why, so they can make adjustments to reduce attrition and retain key performers.” Offering a plan that gives employees a low-cost alternative with a wide range of options can work toward your recruitment and retention strategy.

No network doesn’t mean no coverage.


At Conner Insurance no one gets left in the dark, with no access to care. We develop well-designed strategic plans from a position of confidence to ensure everyone understands the details of their new plan. Recently one of our clients adopted a self-funded plan with reference-based pricing. Their HR department had concerns about employees navigating a plan without a known network. We were able to help educate employees about their new plan and show them where they could go to access information and find support when needed.

The healthcare system is not easy to navigate and employees can have difficulties making healthcare choices for themselves and their families leaving employees upset or worse, avoiding care. With the right approach, you can help your employees understand their options and increase their chances of using their plan and making the best decisions for their health and wellbeing.


With the help of a trusted advisor, you can modify the way you offer your coverage successfully, whether you choose a traditional or a non-traditional healthcare plan. With the right plan and a focus on employee communication, education and support you can combat rising healthcare costs for your business and your people– and we can help.


If you want to learn more about self-funding with reference-based pricing, or you are interested in learning what options are best for your business, don’t hesitate to reach out to an advisor today.

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