Solution controls health care costs and delivers employees tailored health plans.
MINNEAPOLIS — August 24, 2010Bloom Health today announced five Twin Cities-based companies have deployed its health benefits administration solution — taking the worry and hassle out of open enrollment for the coming benefit year.
Clients that have successfully implemented the Bloom Health solution include Anderson Companies, Orion Corporation of Minnesota, Echobit, Refactr and Wellclicks. Several more companies plan to launch Bloom Health before the end of the year.
"We set out with one goal for 2010: to simplify how employers and their employees select and pay for health insurance," said Abir Sen, chief executive officer of Bloom Health. "We’re off to a great start with our first client implementations, and the positive feedback from employers and employees is validation that our unique approach to health benefits administration has immediate application and value. It’s especially rewarding to see how quickly an entire company’s outlook on managing health benefits can change from frustration to one of pride and comfort."
The company’s solution is well suited for businesses of all sizes and industries. First, Bloom Health works with employers to determine a reasonable and affordable amount to spend on employee health benefits. Then, employers deposit pre-tax dollars on behalf of each employee into a Bloom Health account.
Employees participate via Bloom Health’s user-friendly health, financial and risk survey, which generates a custom list of recommended health insurance plans that match the employee’s specific needs. Employees then choose a health plan and any related services based on desired cost, coverage and features, and pay for insurance and other programs directly from their Bloom Health accounts. This process empowers employees by meeting each individual’s needs.
Scott Sloan, an employee of Wellclicks adds, "Going through the Bloom Health process took the complexity and confusion out of choosing health insurance. The online questions guiding me through health plan options were effective and simple, and at the end, I had a list of benefit choices. Bloom Health did all the heavy lifting for me. I purchased a health plan well suited for my needs, not the needs of all my co-workers. And, I get to interact with the health care system just as I did before, only now I know my health plan dollars are being well spent."
The Bloom Health solution helps employees and employers alike. Its innovative approach empowers businesses to control costs, while offering customized benefit plans to their employees.
"I had to find a better health benefits option after facing yet another cost increase to our high-deductible health plan, which also resulted in inadequate coverage for many of our employees," said Mike Sarafolean, President of Orion. "Bloom Health has completely released us from the limitations of traditional health benefits administration while bringing greater employer and employee accountability to the table. For the first time, I feel ahead of the game when it comes to managing open enrollment and controlling health care costs into the future."
"Bloom Health is a smart solution for bringing cost certainty to employers and customized benefits to employees, all within the confines of today’s health care system," said Peter Hayes, a veteran health and benefits consultant. "As the provisions of health care reform are implemented in the coming years, things such as individual and employer coverage mandates, Bloom Health-like models will become commonplace — driving efficiency in the system and empowering the next wave of health care consumerism."