Blue Ox Enterprises has reduced their employee healthcare costs by 25 percent in a year by using a self-funded captive insurance programme.
According to the Institute of Medicine, 30 percent of US healthcare dollars are wasted, with most Americans receiving healthcare benefits from their employers.
In a statement Health Compass Consulting, which says it aims to eradicate waste from the US healthcare system, said that little attention has been paid to a small, but growing number of businesses that have succeeded in this challenge.
One of these companies is Blue Ox Enterprises, which moved to a self-funded captive programme to cover healthcare for its 150 employees.
Aimee Kilpatrick, Controller of Blue Ox Enterprises said: “Unlike many of our peers, we pay for 100 percent of employee (only) coverage, and these saving also allowed Blue Ox to offer a voluntary onsite mobile Wellness Initiative at no cost to employees.’
She added: “Almost all of our employees have used the onsite wellness benefit."
Health Compass Consulting said that innovative companies have “already demonstrated their ability to break the straightjacket of American healthcare and cure much what ails our American dream”.