28 Mar Disrupting Employee Benefits: Insights from Dan LaBroad
Employee benefits are often one of the largest expenses for employers, yet many find the world of health insurance confusing and overwhelming. In a recent episode of The Jeff Crilley Show, Dan LaBroad, President and CEO of Ovation Health & Life Services, discussed how employers can save money while enhancing their employees’ benefits. His innovative approach is transforming the traditional benefits landscape.
Embracing a Different Approach to Employee Benefits
LaBroad’s journey began in 2006 as a typical health insurance broker dealing with major carriers. However, he soon recognized significant flaws in the system, especially the rising costs faced by employers. Over the past decade, rates from traditional carriers have surged by at least 68%, with some clients experiencing even more daunting increases of up to 170%. This prompted LaBroad to shift his focus towards self-funded and level-funded plans that empower employers and provide greater transparency.
The Power of Customization in Health Plans
Unlike traditional brokers who typically present a limited selection of major carriers, Ovation Health & Life Services enables employers to build bespoke health plans tailored to their unique needs. This model is not just for large companies; it can be implemented for small groups with as few as five employees. By moving away from conventional systems, employers gain control over their benefits while accessing higher quality services at reduced costs.
Importance of Customer Service and Community Engagement
Customer satisfaction stands at the heart of LaBroad’s philosophy. His commitment to high-quality service ensures that clients receive ongoing support throughout the year, not just during enrollment periods. Past clients have praised the hands-on approach and the easy accessibility of LaBroad and his team. This dedication resonates not only with employers but also with their staff, creating a loyal and appreciative workforce.
Moreover, LaBroad is deeply involved in community service. His initiatives include organizing flu clinics in collaboration with local churches and food banks, highlighting his belief in giving back and ensuring that everyone, especially the underserved, has access to necessary health services.
Leveraging Technology for Better Outcomes
Ovation Health & Life Services employs advanced technology, including AI and predictive analysis, to streamline the quoting process for employers. For groups with fewer than 125 employees, quotes can often be returned within 24 hours, facilitating quicker decisions for business leaders. This efficiency enables employers to understand their options better while potentially offering enhanced benefits without increased costs.
Real Success Stories: Proof of Concept
One noteworthy success story shared by LaBroad involved a company facing a staggering 200% increase in health insurance costs just a month before renewal. By using Ovation’s innovative approach, they not only lowered their rates but also expanded benefits for employees, resulting in plans that offered free imaging and surgeries. Such transformations demonstrate the potential of LaBroad’s model to provide substantial financial relief while enhancing employee welfare.
Ultimately, LaBroad’s vision for Ovation Health & Life Services is reshaping how employers approach health benefits. By focusing on customized solutions, exceptional customer service, and community involvement, he is not only reducing costs but also improving the overall employee experience. If you’re a business owner seeking to reevaluate your employee benefits strategy, exploring Ovation’s offerings could lead to significant savings and improved employee satisfaction.
For more information about Dan LaBroad and Ovation Health & Life Services, visit ovationlife.com.