On behalf of the MedBen team, I wish you all the best for the new year and thank you for your continued trust in MedBen.
While MedBen has been serving employer groups since 1938, this past year our company marked 35 years of providing third party administration to self-funded organizations. Today, our TPA services make up the largest part of our business.
Third party administration is a highly competitive industry… however, MedBen still attained a client retention rate of 99% in 2024. I attribute this achievement to several factors:
- Service. The MedBen team handles all aspects of benefits management – not just claim processing and client service, but plan compliance and analysis, design strategies, data security, and more.
- Stability. One in ten of our employees have been with MedBen for 30 years or more, and our senior staff averages 27 years of serving our clients.
- Transparency. We ensure that you know where your health care dollar is going and why, through actionable reporting that breaks down your claim activity and pharmacy pricing that eliminates hidden markups. It’s your health plan!
- Innovation. We continually look for new ways to promote better health and reduce spend. Recently, MedBen Rx introduced genomic testing, which uses precision medicine to pinpoint how a person’s body reacts to prescription drugs and nutrients.
- Your Voice. Most important, we listen to you. Every suggestion, compliment, and, yes, criticism is heard and considered. Only through your feedback can we add to what’s working and address areas where improvement may be needed.
As for the coming year, industry analysts are forecasting health care cost increases of up to 8%. But MedBen has consistently outperformed national trends, and our aim is to see that run continues in 2025. Toward that goal, we will work with you to be sure that you’re taking advantage of every savings opportunity… and should a new opportunity arise, we’ll let you know if it can benefit your plan.
Finally, if you haven’t shared your thoughts about MedBen with us lately, I encourage you to do so. Take a few moments to fill out a Client Survey – or if you prefer, just give me a call at 740-522-7345.
Once again, thank you, and best wishes for a healthy and successful 2025!