Fallon Health offers new financial incentives to mid-sized employers
Reward for lower medical costs and money-back performance guarantee are first offered to mid-sized companies in Massachusetts
Worcester, Mass., April 18, 2019 ― Fallon Health today announced two financial incentives that are the first of their kind offered to mid-sized employers with 75-99 workers in Massachusetts. The Shared Performance Program offers a financial reward to companies that experience lower health care costs. The Smooth Start Guarantee, available to employers with 50-99 employees, provides a credit to employers if Fallon fails to meet certain expectations when onboarding new employer customers.
“Mid-size companies are crucial to our economy, and offering them more affordable options goes a long way,” said David Przesiek, Senior Vice President and Chief Sales Officer for Fallon Health, noting that companies with fewer than 100 workers account for 98.2 percent of all U.S. firms according to the Census Bureau. “We developed these new programs after listening to employers and their brokers about what we could do together to hold down costs while still providing high quality care and great service to their employees and our members.”
Under the Shared Performance Program, companies with 75 to 99 enrolled employees will receive a premium credit when their medical expenses are lower than 89 percent of premiums they pay.
Under the Smooth Start Guarantee, if Fallon fails to meet certain expectations when onboarding new employer customers, the employer receives a $5,000 credit. The program is available to companies with 51 to 99 enrolled employees. The expectations Fallon must meet include a dedicated implementation manager, a dedicated account manager and receipt of member identification cards within eight days of enrolling.
Melissa Randall
Corporate Communications Manager
508-368-9345
About Fallon Health
Founded in 1977, Fallon Health is a leading health care services organization that supports the diverse and changing needs of those we serve. In addition to offering innovative health insurance solutions and a variety of Medicaid and Medicare products, we excel in creating unique health care programs and services that provide coordinated, integrated care for seniors and individuals with complex health needs. Fallon has consistently rated among the nation’s top health plans by the National Committee for Quality Assurance for its HMO , Medicare Advantage and Medicaid products.