The Waypoint Benefits Model

five stars

Actionable Proposals Built on Accessible Quantitative Data

Under the traditional model, the data needed to make the most positive and impactful employee benefit program improvements is regularly ignored — despite being readily available. But with Waypoint Benefit Solution’s data-driven model, we replace the tired advisory approach of a traditional broker with five fundamental steps.

Step 1. Our first step is asking benefit-eligible employees to provide their input via an employee benefits survey. If attracting and retaining the best employees is your company’s goal, it only makes sense to start with this input for the best benefit plan.

Step 2. Next, we survey your company executives and benefits administration team using our employer survey. We use this information to understand what is currently working well and what opportunities for improvement exist. Including benefit administrators is vital in this process, as we want them to understand the value of program improvements and feel supported in the transition.

Step 3. Understanding the costs and claims associated with your past program is also foundational in the Waypoint Benefit Solutions model. While we are collecting input from your employees, executives and administrative team, we are also accessing and studying the claims-related data generated by your existing programs over the past 24-36 months.

Step 4. Following this, we will collect information associated with your program’s current fixed cost of insurance and administration. The data collected allows us to understand how your program has been performing, and what opportunities exist for improvements. We will identify fraud, waste and excessive charges, as well as secure benefit improvement opportunities.

Step 5. Finally, using this information, we access the most competitive opportunities in the market. We work alongside your team to develop an actionable proposal that aligns with your employees’ interests, creates complete transparency and results in better benefits at lower costs.

A Different Approach

Complete Transparency

At Waypoint Benefit Solutions, we provide each employer group with a completely transparent benefit management opportunity. Every dollar invested by your organization and employees will be accounted for and demonstrated during quarterly and annual reviews. 

Allign with our clients at all times

Traditional Insurance Model

Your traditional insurance carrier and broker make their decisions and money from the hidden fees and bonuses passed on to them. This means your traditional insurance carrier isn’t representing your company or employees, they’re representing their own best interests.

Our Waypoint Benefits Solution

By removing the hidden fees and bonuses, we’ve been able to create efficiencies for our employers and provide a better solution to the health insurance benefits industry. This is one of our guiding principles.

Remove conflicts of interest and eliminate theft by passing on ALL rebates and fees to you.

Traditional Insurance Model

Your traditional insurance carrier and broker are taking bonuses and rebates from their vendors without your knowledge. These fees are literally hidden in the data they don’t show you, so you don’t even know that your company should be receiving those rebates.

For example, one of our clients had a $32,000,000 prescription expenditure and received $130,000 in rebates. When we reviewed their benefits program data, we discovered that the company should have received $850,000 in rebates, but the rebate aggregator and other vendors essentially “stole” the difference by itemizing those rebates as fees.

Our Waypoint Benefits Solution

Because of our flat-fee structure, we don’t keep the rebates you should be receiving. It’s that simple. For that client above, they would have received 100% of the $850,000 in rebates they earned. 

Best-in-Class Vendors

Our company and every vendor we attach to your benefits program will commit to capturing only their specified fee structure and no behind-the-scenes unspecified revenue. That’s a big deal in this industry.

By eliminating the conflicts of interest and aligning vendors’ revenue with your success, is key. As part of your commitment to transparency, we will provide you with a list of vendors who will be aligned with your benefits program, the role they will fulfill and their set fee structure. 

Waypoint simply does benefits differently. That innovation means that your company will have access to resources to help your employees get personalized, comprehensive coverage. We replace emotion with science and data when we propose solutions for your company. That approach brings cost savings to you — and excellent benefits without cutting services to your employees.

Waypoint wants you to succeed in providing quality coverage to your company. We provide what we promise — it’s a point of pride for us. You can trust us in ensuring that your offerings are competitive, complete, and cost-effective. We are passionate about resolving the challenges your business faces when it comes to the balancing act of member experience. In particular, self-funded commercial groups can benefit from our unique model. Our flexibility and customization work for you.

Our clients agree with us.

They benefit from our transparent, data-driven benefits solutions.

 

Competent and always courteous! Always ready to assist with a problem or to get the answer to a question!

Chief Michael W.

Always super friendly and quick to respond, we can count on Waypoint to efficiently assist with all of our benefit needs. Highly recommend Stephanie, Megan, and the entire Waypoint Benefit Solutions team!

Mandy