The Costco Health Insurance Marketplace offers plans and more
The Costco Health Insurance Marketplace assists business owners and decision makers for employee benefit plans. We offer plans, programs and technology solutions for businesses of all sizes from 2 – 10,000+. Small businesses (2 – 100) can use our platform or speak with a healthcare ambassador to learn about the best available options. Larger businesses can access a comprehensive solution for exclusive plan offerings, benefits administration and compliance.
Cost Containment, Data Control, and a Unique Employee Experience –
For large businesses (100+) seeking assistance with employee benefit plans, the Costco Health Insurance Marketplace has negotiated discounts and strategic partnerships that help bend the curve of growing health insurance cost trends. An advanced technology platform streamlines processes, eligibility management and compliance requirements. These solutions are delivered to participating employers in tandem with an experienced consulting team and dedicated contact center support.
The rising cost of healthcare and employee benefit plans are top of mind for many large businesses. Costco Health Insurance Marketplace has sought strategic partnerships with best of class vendors that are committed to long-term cost containment. Negotiated arrangements for access to the best available discounts for PPO network access, pharmacy costs, and benefits administration help drive savings.
Many large firms seeking to trim their benefits budgets have turned to self-funded arrangements: partnering with administrators, PPO networks and a pharmacy benefits manager to assume risk and reduce the overall cost of plan offerings. In this type of arrangement employers gain the flexibility to choose plan design elements and set pricing based on their competitive and budgetary goals. Cost reductions in self-funded arrangements are achieved through the elimination of certain taxes and fees, and insurance carrier overhead and margins. The Costco Health Insurance Marketplace specializes in the analysis and management of self-funded employee benefit plans.
Prescription drug costs make up an ever growing portion of the overall cost of healthcare and employee benefits plans. The Costco Health Insurance Marketplace uses the Costco Health Solutions Prescription Benefits Program to help deliver plan savings to our self-funded clients. This program guarantees that 100% of all discounts from manufacturers will be passed back to the consumer. Companies who are participating in Costco’s prescription benefit program are typically reducing costs by 10-25% just by moving to the Costco program. Depending on their motivation to save, some are seeing savings of 30% and more.
Efficiently managing eligibility requirements, participant onboarding, qualifying life event management and compliance are critical elements to the success of a modern employee benefits plan. The Costco Health Insurance Marketplace uses a robust technology platform to manage all of the required elements of
member plans and deliver an automated process management solution that reduces the cost of administration and streamlines communications and compliance. The result is a comprehensive benefits administration solution that compliments the offerings within the employee benefits plans.
The Costco Health Insurance Marketplace reduces the complexity that surrounds the purchase and implementation of an employee benefits plan regardless of the size of your firm. Learn more about our programs for large business at http://www.costcoquote.com/largegroup or give us a call at 888 371-3404.