The more our ASG team does business with Lancaster, Penn.-based TPA Significa Benefit Services, the more we marvel at the value of a true partnership.
We first began working with Significa this past winter when Sales Executive Steve Shirk came to us with an opportunity to underwrite an employer group that presented several unusual cases, yet required timely coverage.
He recalls, “Time was of the essence and there was some pricing the broker wanted—in a level-funded format—so we worked around these things and ultimately, were able to move forward in a way that we all felt benefitted our customer.”
Get to Know Significa
Over the past months, it’s become clear that the 30-year-old firm shares more than a few core values with us at ASG.
For one, Regional Sales Director David O’Shea David notes that “as a TPA, we’re closer to the customer—we understand the customer’s needs. And that translates into our philosophy that the plan should be customized to fit the group, not the other way around.”
Transparency is key to achieving this end. “Without transparency, a business doesn’t know what to do to get control of its healthcare costs,” he explains. “By having access to claims data, and understanding the usage in that employer’s population, it helps us to design that plan in a way that helps control costs.”
Steve notes, “When we understand the customer, we understand what kinds of carriers and programs we want to bring to the program. Telemedicine programs, bringing in a fiduciary group—we’re tailoring the administration of that plan to meet the customer’s very specific needs.”
The second key is managing claims costs. David points out, “In our world, we’re auditing the emergency room client, we’re monitoring the surgical claims—we’re constantly looking for savings for the customer by managing the risks on a regular basis.”
Lastly, transparency—often a tricky achievement in our line of business, but key to proactively managing costs by managing care. At Significa, says Steve, “We have a robust claim reporting tool. We’re understanding the usage in our groups’ populations. After nine months or so we understand what the population is doing, and at that point, we can make changes to the plan.
“For example, when we see high utilization, we know the plan design is wrong. We want the employer to begin to get some control over costs—so we are able to reduce fourth, fifth, or sixth-year costs through a proactive approach to managing costs, managing care, and providing satisfying health benefits.”
The result of this diligence: knowledgeable employers and happy employees. “We find that once the employers see that full transparency, they’re able to make good decisions about managing healthcare costs effectively,” says David.
A Hands-On Approach
Significa also maintains relationships with vendors that the firm can match with the unique needs of employer groups. Steve explains, “By farming the data and understanding what’s going on, we can bring the right vendor to the table—and then we can control expense and enhance the experience with that customer.”
Significa is applying that model and differentiating itself with a third key partner: brokers. Specifically, by building consortiums, customers can buy in as participants, allowing Significa and its broker partners to grow business together.
“The small employer with 30 lives, 50 lives—they don’t have a lot of negotiating power. But in a consortium with thousands of lives that we can negotiate on their behalf, they now have the power of a large employer with the ability to negotiate insurance costs while spreading risks among several groups.”
Recognized for Experience and Caring
Here at ASG, we’ve often heard about the accolades Significa receives on a regular basis for its highly experienced claims professionals and dedication to customer service. “I think we bring a very good, experienced package with compassion and understanding about how we can assist our customers in managing risk,” notes Steve. “Being able to make recommendations, prove those recommendations to the customer, then implement those recommendations and measure those successes in subsequent years truly sets us apart.”
We value our relationship with Significa and look forward to many years of mutual success and growth!