Haris Ashley
Imagine360 is a healthcare company that offers self-funded insurance plans to companies with 100 or more employees. Their core product, Your Health Plan, is a full-service health plan solution with expert plan administration and 360-degree member support. This plan includes the financial savings of reference-based pricing (RBP), which is a cost-containment strategy that uses an established benchmark, such as Medicare, to determine the payment for healthcare services. By using RBP, Imagine360 claims to help self-insured businesses reduce annual costs by up to 30%. In addition, Imagine360 establishes direct contracts with high-quality providers and health systems, allowing members to access quality care at low costs.
| Characteristics | Values |
|---|---|
| Type of Insurance | Self-funded health insurance |
| Core Product | Your Health Plan |
| Plan Features | Expert plan administration, 360-degree member support, reference-based pricing, direct contracts with providers |
| Plan Benefits | Financial savings, proven to lower healthcare costs by 15-30% |
| Customization | Customizable plans based on employee population, health plan goals, and budget |
| Reference-Based Pricing | Uses benchmarks like Medicare to determine healthcare service costs, can reduce annual costs by up to 30% |
| Provider Selection | Selects only high-performing hospitals and physicians for direct contracts, ensuring quality care at low costs |
| Price Protection | Built-in price protection safeguards members from overcharges, even when receiving care from non-partner providers |
| Member Support | Offers virtual events, a MiBenefits portal with 24/7 support, and a dedicated plan administration team |
| Company Size | Suitable for companies with 100 or more employees |
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What You'll Learn
Imagine360 is a healthcare company offering a portfolio of health plan solutions
The company's core product is "Your Health Plan", which includes expert plan administration, 360-degree member support, and the financial savings of reference-based pricing. Reference-based pricing (RBP) is a cost-containment strategy that uses an established benchmark, such as Medicare, to determine the payment for healthcare services. By using RBP, self-insured businesses can reduce their annual costs by up to 30%.
Imagine360 also offers direct contracts with high-quality providers and health systems, which can be added to an existing self-funded plan. This allows employers and employees to access quality care at low costs. The company has been in business for over 12 years and has helped hundreds of self-funded clients maximize savings and control costs.
Imagine360 also provides virtual events where potential customers can learn about their health plan solutions first-hand. They also offer a robust MiBenefits portal that offers 24/7 support for HR and plan members. In addition, Imagine360 has a plan administration team with over 50 years of experience providing support to HR functions, including plan design, open enrollment, onboarding, and year-round employee education.
Imagine360 is committed to fixing health insurance and helping businesses and their employees navigate the complex healthcare landscape. They aim to bring deep cost savings that protect everyone's well-being and budgets.
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Their core product is 'Your Health Plan'
Imagine360 is a healthcare company that offers a portfolio of health plan solutions. Their core product is Your Health Plan, a full-service health plan with expert plan administration and 360-degree member support. This plan is designed to provide comprehensive support to businesses and their employees, helping them navigate the complex world of health insurance and bringing deep cost savings to protect everyone's well-being and budgets.
Your Health Plan includes the financial savings of reference-based pricing and direct contracts with high-quality providers and health systems. Reference-based pricing (RBP) is a strategy that uses benchmarks like Medicare to determine fair prices for healthcare services. By adding a fair profit margin to the benchmark, Imagine360 can contain costs and help self-insured businesses reduce annual expenses by up to 30%.
The plan administration team at Imagine360 has over 50 years of collective experience. They provide support to HR professionals, from plan design and open enrollment to onboarding and year-round employee education. Imagine360 also offers a MiBenefits portal that provides around-the-clock support for HR teams and plan members.
In addition to their full-service health plan, Imagine360 offers standalone solutions such as reference-based pricing and direct contracts with quality providers. These solutions can be added to an existing self-funded plan, giving companies the flexibility to customize their health plans according to their specific needs, goals, and budgets.
Imagine360's approach to health insurance is unique. Rather than including most providers in a region, they carefully select only high-performing hospitals, physicians, and health systems, and establish direct contracts with these top-tier providers. This strategy enables their members to access superior healthcare services at significantly lower costs. Imagine360 also offers built-in price protection, ensuring members are protected from overcharges regardless of where they receive care.
With a proven track record of helping self-funded clients maximize savings and control costs, Imagine360 presents itself as a promising solution to the challenges of rising healthcare costs and the complexities of health insurance.
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They work with companies that have 100+ employees
Imagine360 is a healthcare company that offers a portfolio of health plan solutions. Their core product, "Your Health Plan", is a full-service health plan solution with expert plan administration and 360-degree member support. The plan is designed to lower healthcare costs by 15-30% and can be customized to meet the specific needs of companies with 100 or more employees.
Imagine360 works with companies that have 100 or more employees to develop a self-funded health plan solution that addresses the issues with traditional PPO insurance plans. Their approach puts control back in the hands of employers and provides access to higher-quality care for their employees and their families. With Imagine360, employers can build a money-saving health plan that is tailored to their employee population, health plan goals, and budget.
One of the key features of Imagine360's health plan solution is reference-based pricing (RBP). RBP is a cost-containment strategy that uses established benchmarks, such as Medicare, to determine the payment for healthcare services. By adding RBP to their health plan, self-insured businesses can reduce annual costs by up to 30%. RBP providers review and audit medical bills, reprice them based on Medicare or other benchmarks, and pay a fair markup on those charges, resulting in savings for both employers and employees.
Imagine360 also offers a dual option for companies that want to provide their employees with the choice between a PPO and a plan with the cost savings of reference-based pricing. This gives employees the freedom to choose while still delivering savings for the company. In addition, Imagine360 provides a robust MiBenefits portal that offers around-the-clock support for both HR and plan members.
Imagine360 has been in business for more than 12 years and has helped hundreds of self-funded clients maximize savings and control costs through reference-based pricing. Their solutions are proven to deliver significant savings and enhance employee satisfaction. For example, one company reported savings of $11 million, with 20% lower deductibles and premiums, and employees expressing happiness with their benefits.
Imagine360's health plan solutions offer a fresh approach to tackling the challenges of rising healthcare costs and ensuring employee well-being. By working with companies that have 100 or more employees, they can create customized health plans that meet the unique needs of each organization while driving down healthcare costs.
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Their plans are completely customisable
Imagine360 is a healthcare company that offers customisable health plans for companies with 100 or more employees. Their plans are designed to be flexible and adaptable to the specific needs of each company and its employees.
The company's core product is called "Your Health Plan". This full-service health plan solution includes expert plan administration and comprehensive member support. One of the key advantages of Imagine360's plans is their focus on cost savings. They achieve this through reference-based pricing, which is a strategy that uses established benchmarks, such as Medicare, to determine fair prices for healthcare services. By adopting this approach, Imagine360 claims that companies can reduce their healthcare costs by 15-30%.
The customisability of Imagine360's plans is further enhanced by their ability to work with companies' existing self-funded plans. Companies can choose to add reference-based pricing or direct contracts with quality providers to their current plans. This flexibility ensures that companies can design health plans that align with their employee population, health plan goals, and budget.
Imagine360 also offers a dual option for employees, where they can choose between a PPO and a plan with the cost savings of reference-based pricing. This feature provides employees with the freedom of choice while still delivering cost savings for the company.
In addition to cost savings, Imagine360's plans offer additional benefits such as built-in price protection. This feature safeguards members from overcharges, regardless of whether they receive care from an Imagine Health partner provider or a non-partner provider. Imagine Health selects only high-performing hospitals and physicians and establishes direct contracts with these providers, ensuring that members receive quality care at low costs.
Imagine360's customisable plans provide companies with the ability to create health plans tailored to their unique needs, offering cost savings, flexibility, and quality care for their employees.
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They offer reference-based pricing and direct contracts as standalone solutions
Imagine360 is a healthcare company that offers a portfolio of health plan solutions. Their core product, Your Health Plan, is a full-service health plan solution that includes expert plan administration and 360-degree member support. This plan also incorporates reference-based pricing and direct contracts with providers, resulting in significant financial savings.
Reference-based pricing (RBP) is a cost-containment strategy employed by Imagine360. It involves using an established benchmark, such as Medicare, to determine the payment for healthcare services. By auditing and repricing medical bills based on this benchmark, RBP providers can help employers and employees save money on healthcare expenses. Imagine360's RBP approach ensures fair pricing and can lead to substantial reductions in annual healthcare costs.
Direct contracts are another key component of Imagine360's offerings. They selectively establish direct contracts with high-performing hospitals, physicians, and health systems. This approach enables self-funded employers and their employees to access quality care from top providers at low costs. By partnering with only the best providers, Imagine360 ensures that its members receive superior healthcare services at competitive prices.
Imagine360 offers reference-based pricing and direct contracts as standalone solutions. This flexibility allows companies to add one or both components to their existing self-funded plans. With these options, businesses can customize their health plans to meet their specific needs, budgets, and employee populations.
Imagine360's innovative approach to healthcare insurance provides companies with cost-effective solutions. By leveraging reference-based pricing and strategic direct contracts, they empower employers to reduce healthcare costs while providing their employees with access to quality healthcare services.
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Frequently asked questions
Imagine360 is a healthcare company offering a portfolio of health plan solutions. Their core product is Your Health Plan, which includes expert plan administration, 360-degree member support, and reference-based pricing.
Imagine360 offers reference-based pricing (RBP), a cost-containment strategy that uses benchmarks like Medicare to determine healthcare service costs. Self-insured businesses can add RBP to their health plan, reducing costs by up to 30%.
Imagine360 selects only high-performing hospitals and physicians and establishes direct contracts with them. They use independent data to identify the best-performing healthcare providers in local markets, ensuring their members receive quality care at low costs.
Unlike traditional PPOs, which offer broad coverage, Imagine360 takes a more selective approach. They focus on contracting with high-performing providers, allowing self-funded employers and their employees to access quality care at lower costs.
