March 20, 2024

What do employees do when they have questions regarding their benefits?  Where can they go to find information?

One solution is a benefits navigation platform that summarizes all benefit plans within one app, providing on-demand help, whenever and wherever it is needed.  This allows employees to serve themselves at their convenience, right from their mobile phone or tablet.

From within the benefits app, employees and their families may have access to:

• Plan summaries
• ID cards
• Deductible and Out of Pocket Accumulations
• Provider Search
• Chat and/or Secure Messaging
• Virtual care

If employees need additional help, healthcare concierge staff can assist to:

• Find a specialist or facility and book an appointment
• Estimate health costs
• Review medical bills for accuracy
• Answer benefits questions

When employees are able to access the information they need, they have greater benefits satisfaction, lower healthcare costs, and improved wellbeing.

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October 12, 2023

Navigating the healthcare system can be confusing and time-consuming for employees and their families.  Member advocacy programs help people make better decisions about their care by combining proactive guidance, a streamlined experience, and compassionate service.

What can a healthcare advocacy program do?

• Find a high quality, low cost provider (doctor and/or facility)
• Provide cost estimates and comparisons of multiple providers
• Facilitate connection with a virtual care provider
• Book an appointment
• Answer questions about benefits and how they work
• Review medical bills and compare them to the Explanation of Benefits from the health insurance plan
• Explain medical savings accounts, such as HSA, FSA, and HRA
• Identify ways to save on prescription medications
• Help manage a new diagnosis or ongoing condition

Providing employees the help they need, when they need it, leads to greater benefits satisfaction, improved wellbeing, lower healthcare costs, and greater engagement at work.

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October 5, 2023

I would like to take the opportunity to thank our team at Watko for doing such a wonderful job supporting our customers while I was away on maternity leave.  The team we have here at Watko never ceases to amaze me.  Being able to take the time I needed to be with my family, knowing that our customers would be taken care of, is certainly something I will never take for granted.  I was able to lean on our Watko team and know that they would connect with our customers in the same manner that I would without skipping a beat.  Being able to accomplish this, especially during our busiest time of the year, truly speaks volumes to our team’s dedication and the way we embody working together to solve every customer’s unique needs.

Please welcome the newest member of our Watko family, Jace Hawkins!

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June 8, 2023

We are finding more and more customers that are challenging the value of “we have always done it this way.” Plan Costs continue to be a concern of many group executives, and thinking outside of the box with creative strategies is at the core of how we add value at ����app.  We have customers that prefer to remain with the big carriers, but we also have some that have pursued and implemented non-traditional strategies.  We are committed to innovation using our industry experience to listen, evaluate each business objective, and find a solution that will deliver the most value.

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May 18, 2023

At ����app, our passion is to help our customers.  I see and hear this every day as I observe our team members working with and for our clients.  They want to get it right, and they are dedicated to finding the best possible solution.

I know my partners at Watko are committed to excellent service because I have experienced their support and diligence first hand.  We have a great group of people who earnestly strive for excellence and want the best for our clients.

“Strive not to be a success, but rather to be of value.” – Albert Einstein

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April 5, 2023

If you have ever taken a deep dive into prescription drug plans and pharmacy benefits (or even dipped your toe in), you know it can be confusing and difficult to understand.  Rebates, step therapy, copay maximization, formulary, pass through, alternative funding, discounts…  What does all of this mean, and how do you know you are choosing the best options for your employees while also maximizing savings?

����app has resources available to:

• Analyze your current Pharmacy Benefit Management (PBM) contract and performance
• Educate you regarding the various plans and programs that are available
• Search the PBM marketplace to find a partner that will help meet your objectives
• Oversee the ongoing performance of your chosen PBM and provide insights based on your specific plan data
• Proactively monitor the ever-changing marketplace, and provide updates and new ideas as things evolve

Please contact us to learn more about these valuable resources.

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It’s hard to believe that  is approaching 20 years in business! That does not happen without the significant efforts of multiple parties. This time of year reinforces the many things I am thankful for in our business. Thankful for my wife and all the support and work that she has provided over the years. Thankful for our employees and their belief in what we do and their commitment to growing to serve our customers better every year. Thankful for the partnership and the synergy we have built with our business partners. And last but certainly not least, thankful for our customers in trusting us to manage and support the benefits they provide their employees.

The post A Message from Greg appeared first on ����app.

December 6, 2022

As employee needs evolve, it is fundamental in open enrollment to listen, customize, and deliver.  Communication is always crucial to meet employee and employer objectives.  While the process of communicating benefits continues to innovate and change, the importance of education is always a priority.

While it has been great to get back out in front of employees, many employers have stuck with virtual settings including online enrollment, video education, self service with virtual chat capabilities, call centers, and traditional individualized face-to-face meetings.

This year we have seen a focus on health plan transparency, employee well-being, behavioral health, long term care plans, and unique voluntary benefits including hospital indemnity plans and pet insurance.  Proceeding with an open mind and customized focus promotes the most productive plan communication initiatives.

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September 20, 2022

While the cost of health care continues to rise, and in turn the cost of health insurance, why would an employer decide to move from a fully insured plan to a self-funded plan?  In a word – opportunity.

With a fully insured plan, the premiums are paid each month and, regardless of the level of claims that are paid out, all of the premium paid remains with the insurer.  If the claims level is lower than expected, the excess premium is a deposit against future claims, and any profit is retained by the insurer.  If the claims level is higher than expected, the premiums are increased significantly the following year.

With a self-funded plan, the fixed costs consist of administrative fees to adjudicate the claims and stop loss insurance to protect against large claims.  The actual cost of claims is paid by the employer, up to a pre-determined level.  If claims are lower than expected, the employer retains that savings – this is the opportunity created by self-funding.  If claims are higher than expected, the stop loss carrier pays the claims above the threshold, providing protection for the employer.

Typically, the fixed costs plus the maximum claims cost is higher than a fully insured premium; this is the risk an employer takes in order to have an opportunity to save during years when the claims are lower.

There are numerous ways to creatively self-fund your health insurance plan, including level funding and group captives.  We will explore these topics in future posts.

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August 10, 2022

When I joined the Watko Team three and a half years ago, I was new to the employee benefits industry. Reflecting on my experience, there is one word that immediately comes to mind – Growth. From the beginning, I immersed myself in as many learning opportunities as possible in order to grow professionally within our field. I’ve had the rewarding experience of growing alongside our business as we’ve expanded our customer base year over year. Now more than ever, there is an enhanced need to control costs while identifying what is most important to our clients. To that end, I continue to place a heavy focus on building relationships with my clients, developing my business acumen, listening to each client’s individual needs and sharing innovative solutions that can help alleviate the rising costs of healthcare plans. I’m excited to look back in another three years to reflect on the continued growth of ����app and the relationships I share with my employer partners.

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