MyHealthMath (MHM) is an independent, third-party service that helps employers and employees make strategic decisions about their health plans.
MHM’s goal is to calculate the most efficient health coverage for each employee’s medical needs.
After you sign up for your interview appointment, An MHM Decision Support Analyst will call you on your selected date and time. We guide you thru a brief series of medical questions about what types of medical services and/or prescriptions you, and anyone else on the plan, will utilize in the coming year. With this information, we provide you with a customized report showing your plan options from lowest, to highest annualized cost. The report is emailed directly to you, typically at the beginning of your Open Enrollment period, for you to utilize as a cost comparison guide.
The medical services and prescriptions discussed during the interview are entered into our proprietary Consumer Decision Support software which processes these costs thru each plan, performing tens of thousands of calculations to show you the lowest combination of premiums and out-of-pocket expenses. We present you with a visual break down of each plan showing your monthly premium, deductible, out of pocket expenses and any other factors on the plan such as a personal or employer contribution to an HSA (Health Savings Account) or HRA (Health Reimbursement Account). Looking at the larger picture of our annual healthcare needs allows us to gain a better understanding of how each plan may look throughout the year and a reference of what each plan may cost.
MHM collects basic health usage information for each person that will be on the plan, such as frequency of doctor visits, labs, medications, planned surgeries, etc. Prescription medications can have a significant effect on costs. We highly recommend writing down the medication name, whether it is a brand or generic, dosage and frequency.
Accurate information about upcoming services and medications ensures that our system analyzes your projected usage to understand which plans provide the most efficient coverage for you. For example, one plan may treat your prescription medications differently, affecting your out-of-pocket costs. Plan A may cover the medication with a copay while Plan B may cover the same medication with deductible and/or out of pocket maximum. By providing the correct medication names, dosage and frequency allows us to discover and calculate the differences.
No. MHM does not collect social security numbers, home address, or any personal financial information. For the interview, we need your first & last name, home zip code, phone number, employer, e-mail address and date of birth.
Absolutely. MHM never shares your specific medical usage information with your employer, health insurance carrier or any other party. All information is stored securely in strict compliance with HIPAA standards.
Specific plan questions such as “what services are covered with a copay and which services are subject to the deductible and/or out of pocket maximum” etc. should be directed to your HR Department or through your employer’s Employee Portal if applicable.
No. Currently, we only offer our services for health insurance plans. However, if your plans cover an annual / bi-annual routine vision screening, that is included in the report since it is included in the health insurance plan coverage.
No. The interview /report is for you to use as a cost-comparison guide while looking through your plan offerings and for informational purposes only. You will need to enroll through your employers HR. We do not share your interview information with your employer, health insurance carrier or any other party.
The report shows you a break-down of each plan you are being offered from lowest to highest annualized cost. The report reflects the monthly premium, out of pocket expenses (copays, coinsurance, deductible) and worst-case scenario (the most you would pay in a plan year).
Yes, we can send you multiple reports for different scenarios you might encounter. These will be sent in separate emails.
(Client Specific) Typically within 48 hours or at the beginning of your company’s open enrollment.
Yes, we can send it to any email address you prefer. We can also mail a hard copy to you.