Medical Benefits Group - Providing Employee Benefits that Make Sense

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Fax: 417-725-0457

Web Address:  www.insuranceinmissouri.com

Top Executives:  Jeff Broyles, President/CEO           

Year Founded:  2006

Number of Employees: 7

Product or Service: Employee Benefits

If there’s one thing most business owners can agree on, the confusion around health care and employee benefits has increased steadily over the past three years. What to offer, when to offer, and how to cut costs and streamline coverage not only impacts employees, it impacts the employer’s bottom line. With all the health care confusion and overall costs continuing to fluctuate, Medical Benefits Group has developed and packaged a platform that incorporates multiple aspects of employee benefits that work together while saving money. 

While some businesses are seeking ways to lower their rates by raising deductibles or changing benefits, Medical Benefits Group is helping their clients keep rates in check by incorporating wellness programs. President/CEO Jeff Broyles is seeing great results in client rates, as well as employee wellness so far. “If health and wellness isn’t important in your current health insurance, it should be.”

“When insuring a person’s health, the state of that person’s health has a pretty big impact on what you have to pay,” Broyles said. “We incorporate a full incentive based wellness program that rewards employees for participating and rewards employers by reducing overall health risks, and by extension, reducing the number of insurance claims.”  

The cost benefits of worker wellness is becoming apparent as evidenced by a 2010 study in Health Affairs that showed every dollar spent on wellness programs reduced corporate medical costs by $3.27 and cut absenteeism costs by $2.73. Another survey by the National Business Group on Health found that 61% of firms found wellness initiatives to be one of the three most effective tools to keep down health care costs. 

“We are experiencing a 78% employee participation in our groups, and rewarding the employer by designating a large portion of their insurance premium to a claims fund,” Broyles added. “Since our platform is partially self-insured with no additional risks, the healthier the employee, the more they employer will get back from the claims fund.”

Lakeland Pharmacy in Branson has been incorporating Medical Benefits Group’s wellness platform for over a year, and according to President Mike Stuart, is seeing a 27% overall cost reduction with increasing benefits to their team members. “After our annual review, we noticed higher than average participation in the embedded wellness program.  We also experienced lower claims which resulted in a $30 per employee rate decrease from the insurance carrier.” 

Medical Benefits Group is headquartered in Nixa and currently has over 20 licensed agents in Missouri, Kansas, Oklahoma, Arkansas and Texas. With more than 50 years of combined experience, as well as their use of innovative state-of-the-art products and services, they are able to provide their clients with the best options at the lowest cost. That effort guarantees their clients receive quality coverage that works for them.