Remember Tip # 405 from May 2019?
Of course you do. They’re all memorable!
Well, Haven shut down earlier this year.
Apparently Amazon, Berkshire Hathaway and JPMorgan Chase - or their shareholders - found lowering health care costs a more formidable challenge.
Then came reports this week the Business Health Care Group has hired a Stamford Connecticut based Third Party Administrator - Centivo Corp, founded (way back) in 2018 - with the
expectation their costs will be lowered by 15%.
Apparently some of the savings will be achieved by steering employees to a limited network of providers whose identity will be unveiled June 16th.
Reminds me of when Roundy’s launched a narrow network plan for their 8,000 employees in 2012. Wonder how that’s going?
Look, competition is good for any market, so I wish the BHCG and Centivo well.
But do I think they have the silver bullet?
No.
Instead I continue to believe the solution to high health care costs stares at us in the mirror every day.
Armed with more information and the right incentives, YOU - not Bezos, Buffet, Dimon or Subramanian - can make headlines. (See Jim, I’m not a cynic!)
More next week.
