Our Solutions

  • Concierge-Level Health Insurance Decision Support
  • Health Insurance Claims-Based Report Cards
  • Analytics Software
  • Plan Efficiency Analysis

Every year, employees struggle to understand which health plan is the right one for their family’s needs. They go to benefit meetings HR has spent weeks planning filled with other coworkers and try to fit this summary information into the puzzle of their own life. At the end of open enrollment, they are still confused. And that’s understandable!

Choosing a health insurance plan is a decision people only have to make once a year, oftentimes at a very busy time of year, grappling with unknown terms and uncertain health futures. It’s no wonder so many employees default into the plan they are already on. Maybe they don’t need any health services and enroll in the plan their coworker across the way likes, without ever thinking something else might make better financial sense for them. Or perhaps their family needs a lot of medical attention, so they know all the terms and how much services are costing them, but wonder “would we spend less on a different plan? And how do I figure that out?” Each employee’s situation is unique and interacts with their employer’s plans differently. Health insurance plans are not optimized to the individual, so MyHealthMath shows each employee which plan is most optimal for them!

We do that with our core service – personalized Total Cost Reports based on one-on-one telephonic engagement with our decision support analysts. On each phone call, an MHM analyst walks through each family member’s health services and prescriptions. We then run that information through our proprietary software to generate Total Cost Reports – including premium and out of pocket costs – for each family’s unique utilization and their employer’s specific plans.  And of course once they’ve received their report, employees can reach out to us with any questions.

Ever wonder if you chose the right health insurance plan? If you’re like most people, probably not. But maybe you could have made a choice that would have saved your family money – over $1,000 on average. And how would knowing that change your decision for the next year?

MyHealthMath can provide ‘Report Cards’ for our self-insured clients to show employees how well they did choosing a health insurance plan that fit their family’s best financial interest based on their actual claims and employer’s health insurance benefits. Employees then have the option to update their usage with a MyHealthMath analyst, and then, when their employer has finalized their new plans, receive a Total Cost Report for the following year.

Once people start making decisions with our Total Cost Reports, decisions start to change. We’ve seen 2-3x increase in migration after employees see our reports. Knowing that, we’ve built software to show the impact of plan and contribution designs on employees’ Total Cost Reports.

First, we upload your company’s plan designs, or ones you might be considering, and gross premiums, and either previous employee interviews or claims information.

Then, using our software, you can configure your premiums contributions, HRA limits and HSA contributions, showing you in real time how changes to your benefit program will impact employees’ total cost, most optimal plans, and overall budget. Many employers find they are over-funding an HSA account in order to incentivize employees. We can show you how much of a contribution you should make while still keeping total cost to your employees as low as possible.

Do you ever wonder if your employees are matched to the plan that would be best for them? Well MyHealthMath can provide the answer.

Our Plan Efficiency Analysis shows your current plan enrollment against which plans would be most optimal for your employees. We start by building out your plan details and contributions in our in-house software. Then, either with your own medical claims or synthetic claims, we run the health utilization information through our system to generate total cost details for each employee. Those results inform our analytics, showing which plans are most efficient – resulting in the lowest total cost for employees – and patterns in enrollment. Using this analysis, you can head into open enrollment planning with clarity about plan design changes needed, if any, and your employee communication strategy.