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Michael Patton Explains How Excel Health Plans Helps Brokers Sell Next Generation Health Plans

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Michael Patton Explains How Excel Health Plans Helps Brokers Sell Next Generation Health Plans

May 24
23:51 2023
Pre-packaged BUCA-like health plans that are easy for brokers to explain and easy for business owners and members to understand

In April, Excel Health Plans Co-founder, Chairman, and President Michael Patton was talking on stage at the Ascend Leadership Summit 2023, being interviewed about the next generation of health benefits. While answering a question, Michael said, “This is the way.” No, Michael was not quoting everyone’s favorite Disney+ character, The Mandalorian. Instead, Michael was talking about health benefits.

“We were able to keep them from an 80% renewal all the way down to a 10 [percent]. That just sparked a light in my head. This is the way – this is what every group needs to be doing with their benefits.”

Business owners are trying to find creative ways to provide competitive health benefit plans without using the traditional “BUCA” model that consistently raises rates yearly. Michael and his Excel Health Plans co-founder, Dylan Slattery, know there are great solutions for business owners to make a change. However, there are several hurdles to moving away from a traditional health plan, creating barriers that scare business owners, CFOs, and HR team members. While cost is not one of those barriers, the complications from building your own plan and the sheer time required often overwhelms decision-makers. Michael describes that process:

“It takes a ton of work to pull together a next generation style [health benefits] plan. If you want to go put together a custom vendor stack, then you are really looking at a 3, 4, 5, 6 month run out time to install that really well and ensure open enrollment and education roll out smoothly. Especially if you are going to put reference-based pricing on that stack, it’s going to be a really long-term process.”

There needed to be a better solution, so Excel Health Plans was born. Micheal says, “The vision for [Excel Health Plans] was how do we make this as easy to sell and deliver NextGen [Next Generation] strategies as a BUCA-like product.” Excel Health Plans specializes in organizing these NextGen solutions into pre-packaged plans that are easy for brokers to explain and sell and easy for business owners and members to understand. Michael continues:

“With Excel Health Plans, brokers have something they can go out and can just sell, and they can just rinse and repeat. That is the biggest advantage … There is going to be a certain line below which it’s not going to be worth your time to build a self-funded solution … Our pre-packaged plans can function as a solution to keep you above that line.”

Check out the Excel Health Plans YouTube page for the whole interview. You can also visit the website to learn about Excel’s benefit plans: https://www.excelhealthplans.com/.

Media Contact
Company Name: Excel Health Plans
Contact Person: David Anthony
Email: Send Email
Country: United States
Website: https://www.excelhealthplans.com/

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