Purple cow employee benefits for sme 2011 (short version)
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Transcript of Purple cow employee benefits for sme 2011 (short version)
Moo!
1“What is a Purple Cow?”A unique product that stands out in the field.
Gotuaco’s Purple Cow is a unique healthcare product that stands out in the field of EMPLOYEE BENEFITS.
Moo!
2Purple Cow Vision:
financial security through employee benefits.
Purple Cow believes that employee benefits are the keys to your financial security.
Purple Cow Mission:
to protect more and more Employees & Dependents from financial insecurity.
Purple Cow stops you from losing your money to all sorts ofmedical emergencies.
Purple Cow Core Value:
take care of the hands that take care of you!
Purple Cow provides the perfect complement to your compensation plan.
Purple Cow gives you all 3 of today’s major employee benefits in 1 package, designed to provide multiple layers of protection:
Group Life: P100,000 – P1,000,000
Group Accident: P100,000 – P1,000,000
Group Health: P20,000 – P200,000
More VALUE…
1
You get MORE benefits for all of your staff
Purple Cow 2011
Value Proposition
Purple Cow saves you up to 60% on the 2 most frequently selected Room & Board categories, when you combine them with our recommended Maximum Benefit Limits:
Ward 20T: P5,445 or P5,990
Semi-Pvt 30T: P6,756 or P7,444
+ Less PRICE…
2
You get LOWER rates for most of your staff
Purple Cow 2011
Value Proposition
(insured HMO plans apply to SME only; self-insured TPA plans apply to Large Companies [500+ employees])
Purple Cow provides Good News to each level of your organization:
Employees: More financial security
HR: Better recruitment & retention
Finance: Greater financial viability
CEO: Major ‘pogi’ points
= More HAPPINESS
3
You make EVERYONE happy – at the same time!
Purple Cow 2011
Value Proposition
What are Employee Benefits (EB)?
EMPLOYEE BENEFITS are incentives given to employees as part of an overall HR strategy to recruit or retain them.
EB can help you win the war for talent
1Purple Cow 2011
Primer
What is the purpose of EB?
“The purpose of EMPLOYEE BENEFITS is to increase the economic security of employees.”
- Wikipedia
EB can help your employees become financially secure
2Purple Cow 2011
Primer
• Paid vacations, 75% • Health insurance, 61%• Paid sick leave, 59%• Disability insurance, 41%• Education reimbursement, 39%• Pension plan, 30%• Life insurance, 29%• Dental insurance, 24%
What are the most common EB?
All 4 insurance benefits are offered by Purple Cow!
3
- Small Business Poll on Compensating Employees (NFIB, US: 2003)
Purple Cow 2011
Primer
What makes Insurance ‘sulit?’ • LIFE INSURANCE provides you with instant cash
in the event of death or total and permanent disability; (.25% of population between 18-65)
• ACCIDENT INSURANCE provides you with instant cash in the event of accidental death or disability; (10% of inpatient & outpatient cases)
• HEALTH INSURANCE (Medical / Dental HMO and/or INS) protects you from losing money in the event of sickness or accident, and treats you as well (if HMO). (10% inpatient / 100% outpatient)
All insurance can make or save you money in multiples
4Purple Cow 2011
Primer
Why give Insurance to employees?
• Because you want to take care of the hands that take care of YOU (Employees are your key success factors);
• Because you want to stop them from losing money to medical emergencies – the most common cause of their financial insecurity – in the most cost-effective manner;
• Because Employee life & health is not just corporate wealth, but also your Corporate Social Responsibility.
Insurance is the most cost-effective EB money can buy
5Purple Cow 2011
Primer
Why get the Purple Cow?
• The Purple Cow is UNIQUE: it’s not just an HMO plan, but all the 3 major Employee Benefits rolled into one plan;
• The Purple Cow is a good SELLING tool: it has all the features & benefits our Clients say they want or need;
• The Purple Cow makes a great PROPOSITION: Employee Benefits = Financial Security; therefore, More Employee Benefits = More Financial Security.
Purple Cow Employee Benefits = more financial security!
6Purple Cow 2011
Primer
ACCIDENT
2. ACCIDENT INSURANCE
a. Accidental Death * Murder
b. Accidental Disability * Assault
HEALTH
3. MEDICAL HMO * 21,519 MD, 352 hospitals, 358 clinics
4. DENTAL HMO * 775 dentists, 645 clinics
5. Opt. Annual Physical Exam * 124 hospitals, 241 clinics, 31 mobile
6. Health & Wellness Program * 2x/year; tailored to utilization report
LIFE
1. LIFE INSURANCE * Total & Perm. Disability Income
LIFE – ACCIDENT – HEALTH
Benefits Overview
1Purple Cow 2011
Benefits
18. Dental = HMO (775 dentists / 645 clinics)6. Assault = __% of 5x MBL
24. Same benefits for all Dependents
23. Same benefits for all Employees
22. Health & Wellness Program (2x/year)
21. Opt. APE = designated or mobile clinic
20. 1 permanent filling, 2 oral prophylaxes, etc.
19. Dental access to major malls in Metro-Manila
17. Opt. Outpatient Reimb. for meds, dental, vision
16. Special procedures = 30% or 100% of MBL
15. Benefits on top of Philhealth
14. 100% Congenital Conditions coverage
11. HMO patient for no-cash-out
10. Max. Benefit Limits per disability per year
12. Private patient for reimbursement (HMO rate)
13. 100% Pre-Existing Conditions coverage
9. Combined inpatient & outpatient limits
8. Access to Big 5 Hospitals & Healthway
7. Medical = HMO (21,519 MD / 352 hospitals / 358 clinics)
5. Accid. disability = __% of 5x MBL (long sked)
4. Murder = 5x MBL
3. Accid. death = 5x MBL
2. Total & perm. disability income = 5x MBL
1. Life = 5x MBL
LIFE – ACCIDENT – HEALTH
Benefits Summary
2Purple Cow 2011
Benefits
Cost Summary (APE & O/P Reimb. extra)
3,2819,18817,39132,813
3,0548,55016,18430,536
200T
2,6727,48314,16426,724
160T
1,3043,6516,91213,04170T6181,7293,2736,17630T
1,3473,7727,14013,47280T6801,9033,6016,79540T
LRG PVT
(Top rank Med co
100-200)
SEMI PVT(Spvr)
1,5734,4038,33515,72680T6761,8923,5816,75630T
1,6834,7118,91816,826100T7422,0763,9307,41640T
1,8445,1649,77518,444120T8122,2744,3058,12250T
120TJR
SUITE (Top rank Large co
200+)
8792,4604,6578,78740T
SML PVT(Mgr)
9512,6645,0429,51350T
1,0322,8905,47110,32360T
1,1993,3566,35211,98560TREG PVT
(Top rank Small co 10-100)
5451,5252,8865,44520T
WARD(R+F)
MOQTRSEMIANNMBLR&BMOQTRSEMIANNMBLR&B
1Purple Cow 2011
Costs
VIRGIN RATES
JR SUITE (Top rank Large co
200+)
SML PVT(Mgr)
3,66210,25319,40836,618200T1,1403,1916,03911,39560T
Cost Summary (APE & O/P Reimb. extra)
3,4239,58318,13934,225
3,0058,41515,92830,052
160T
120T
1,4494,0567,67814,48770T6771,8963,5886,77030T
1,4924,1797,91014,92480T7432,0793,9367,42640T
LRG PVT
(Top rank Med co
100-200)
SEMI PVT(Spvr)
1,7544,9119,29617,54080T7442,0843,9457,44430T
1,8695,2339,90618,691100T8152,2814,3178,14640T
2,0445,72410,83520,444120T8902,4934,7198,90350T
9742,7275,1619,73840T
1,0522,9455,57510,51850T
1,3323,7317,06213,32460TREG PVT
(Top rank Small co 10-100)
5991,6773,1755,99020T
WARD(R+F)
MOQTRSEMIANNMBLR&BMOQTRSEMIANNMBLR&B
3Purple Cow 2011
Costs
NON-VIRGIN RATES
1 ‘Large’ Size Fits All SME: If you are an SME, with 10+ employees, you can join Purple Cow, be part of a bigger group, and be treated like a large company.
(Unlike most HMO plans)
You can enjoy the same toys as the Big Boys
1Why Purple Cow?
Purple Cow 2011
Competitive Advantages
Same Benefits for Dependents: Dependents can get the same benefits, terms and conditions as Employees
(as well as the same costs in 2011).
(Unlike most, if not all, HMO plans)
Your Dependents are treated like Employees
19Why Purple Cow?
Purple Cow 2011
Competitive Advantages
The Price is Right: Purple Cow rates are lowest where they matter the most: in the 2 lowest categories, where you enroll up to 90% of your staff.
(Unlike most HMO plans)
You get the greater good for the greater number
20Why Purple Cow?
Purple Cow 2011
Competitive Advantages
The Design is Right: Purple Cow provides medical necessity,
not luxury. Savings from excess R&B/MBL are reallocated to benefits of greater use.
(Unlike most HMO plans)
Your R&B/MBL combos are good up to 99% of the time
21Why Purple Cow?
Purple Cow 2011
Competitive Advantages
31
Non-Employees can Win, too: you can even cover agents, associations, and multi-purpose cooperatives, as long as
certain selection & payment criteria are met.
(Unlike most HMO plans)You can offer Employee Benefits to Non-Employees
Why Purple Cow?
Purple Cow 2011
Competitive Advantages
Virgins can Win Even More: you get a 1st year Virgin promo rate
if your company has never had group insurance or HMO before.
(Unlike all HMO plans)
You can renew at the prevailing Non-Virgin rates in 2012
32Why Purple Cow?
Purple Cow 2011
Competitive Advantages
Large Companies can do a TPA: if you become a Large Company, you can self-insure as a stand-alone account, using the same Purple Cow schedule of benefits.
(Unlike all TPA plans)You can switch from insured to self-insured plans easily
33Purple Cow 2011
Competitive Advantages
Why Purple Cow?
You have 2-3 networks for no-cash-outMedical, Dental, and opt. APE networks
You can see your own doctor and get reimbursed the HMO doctor’s fee
Choice of doctor as a Private Patient for insurance reimbursement at HMO rates
You are covered for existing illnesses as well as for conditions since birth
100% Pre-Existing Conditions and 100% Congenital Conditions coverage
You get full HMO & Philhealth benefitsBenefits on top of Philhealth
You can add the best perks of medical insurance to your Employee Benefits
Optional outpatient reimbursement for Rx medicines, dental & vision
You can get treated anytime, anywhere1 health card for every employee
You won’t need any life insurance, PA insurance, or memorial plans
Life (or Disability Income) and Accident (or Murder/Assault) = 5x MBL
You get to experience even more financial security from your EB plan
A complete Employee Benefits package made up of insurance and HMO plans
EE BenefitsEE Features
1♠ What’s in it for…Employees?
Purple Cow 2011
Summary
You won’t have to stress over renewalsGroup renewal rates on New Year’s
You can outsource your EB work, etc. Retention of a top insurance broker
You won’t need to create any forms; you can just use ours
3 simple forms to fill out (1 master-list, 1 endorsement, 1 letter of guarantee)
You can adjust your R&B/MBL combos to suit your organizational structure
Multiple Room & Board as well as Maximum Benefit Limits to choose from
You can promote equal treatment1 schedule of benefits for all employees
You can use Purple Cow as a tool to recruit and/or retain staff
You won’t need to wait for a quote or negotiate: one price fits all SME
You get life & accident to complement health in a single, integrated package
HR Benefits
A chance to use Employee Benefits for recruitment & retention purposes
Instant rates, without utilization reports, regardless of the size of your SME
A complete Employee Benefits package instead of just an HMO plan
HR Features
2♥ What’s in it for…HR?
Purple Cow 2011
Summary
Your Cowboy runs the HerdYour Broker acts as Gatekeeper
You can budget your healthcare costs according to your cash flow
4 ways to pay to suit your budget: annually, semi, quarterly, and monthly
You can correct your past mistakes, and not wait a whole year to do so
A chance to switch to Purple Cow anytime, even in mid-year
You can limit your financial liability1 set of fixed costs for all employees
You can lower your EB costs instantly
You can pay for your employees only, and not subsidize dependents at all
You can spread your risk by joining the Purple Cow pool
You get the benefit of scale whenever you buy Purple Cow Employee Benefits
FIN Benefits
A chance to compare rates instantly
Separation of Employee vs. Dependent utilization
Membership in a bigger & bigger pool of SME, to maintain financial viability
A complete Employee Benefits package for the price of an HMO plan
FIN Features
♦ What’s in it for…Finance?
3Purple Cow 2011
Summary
very pogi
CEO!
CEO Benefits
Happier Finance
Happier HR
Happier Employees
CEO Features
♣What’s in it for the…CEO?
4Purple Cow 2011
Summary
Compensation in the PH cannot provide enough financial security in emergencies, and must rely heavily on support;
Employee Benefits can provide that needed support, as most ‘emergencies’ are either life, accident or health-related.
The Problem… The Solution…
1Purple Cow 2011
Conclusions
Compensation + Benefits offer the best 1-2 punch for HR
“Employee Benefits = financial security”
If Purple Cow = more Employee Benefits, then Purple Cow = more financial security!
The Formula… The Brand…
2
Purple Cow offers the best EB formula for growing SME!
Purple Cow 2011
Conclusions
5% of Salary (Max!):
that’s all you need for Purple Cow.
The real cost of Purple Cow:
5Purple Cow 2011
Conclusions
If you can’t give more compensation, give more benefits!
Treat Purple Cow as:
a business investment (HR & FIN);
a social investment (CSR).
Our Recommendation:
6Purple Cow 2011
Conclusions
Purple Cow makes good business & social sense