What You Should Know:
– Sounder Benefits, an intelligent benefits healthtech company that provides total benefit solutions for high-growth companies, launched today.
– Built at Redesign Health, Sounder Benefits will combine AI-driven insights and strategic benefits advisory services to design comprehensive total benefits strategies that go beyond traditional benefit solutions.
Transforming Employee Benefits: Sounder Benefits’ Strategic Approach for Growth Companies
Sounder Benefits is a leading strategic benefits advisor dedicated to transforming employee benefits for companies at every stage of growth. Specializing in personalized, data-driven solutions, Sounder Benefits helps organizations reduce costs, enhance access and choice, and boost employee satisfaction. The comprehensive benefits strategy provided by Sounder encompasses cost management, talent acquisition, cultural enhancement, and employee satisfaction, enabling rapidly growing businesses to recruit, retain, and support their teams competitively while achieving significant savings and improving employee care outcomes.
Challenges Facing Growth Businesses
Employer healthcare costs have risen dramatically, with family premiums increasing by 68% over the past decade. Growth businesses, in particular, have been disproportionately affected, often struggling to access affordable or personalized healthcare solutions. Many of these companies rely on fully insured plans due to their simplicity and perceived lower risk. However, these plans are typically more expensive and less flexible compared to self-funded options, leading to higher costs and limited customization. As a result, many employers resort to shifting healthcare expenses onto employees, resulting in deductibles that are 65% higher than those of larger employers. This cost burden not only restricts access to care but also diminishes employee satisfaction.
Sounder’s Strategic Solutions
Sounder Benefits equips high-growth companies with the expertise and resources necessary to implement top-tier benefits programs while effectively managing cost trends. By leveraging advanced data analytics, Sounder enables employers to strategically integrate benefits into their growth planning, unlocking access to more affordable and personalized healthcare options. Employing a three-year rolling strategy, Sounder delivers substantial savings by continuously managing companies’ plans and adapting recommendations as business needs evolve.
Sounder Benefits works closely with companies to thoroughly understand their benefit plans, organizational objectives, and employee needs. Using AI-driven data analytics to uncover employee needs and adoption strategies, advisors help businesses explore flexible plan structures, including level-funded and self-funded options. These tailored strategies stabilize costs, streamline administration, and manage risk while enhancing access and choice, resulting in a more satisfied workforce.
Employer and HR Leadership Support
Through Sounder, employers and their human resources leaders gain access to:
– White-Glove Support: Best-in-class, year-round support for HR teams and the employees they serve, not limited to open enrollment periods.
– Bespoke Benefit Solutions: Tailored benefit strategies delivered in a three-year roadmap designed to maximize value while improving access and choice, leading to a happier workforce.
– Turn-Key Self-Funded and Level-Funded Solutions: Expert guidance from employee benefits brokers and relationship managers to help employers transition to level-funded and self-funded plans, with ongoing maintenance and support.
– Data-Driven Decisions: Sounder’s Benefits Intelligence Strategy provides targeted recommendations at both the employer and employee levels, enabling informed decision-making.
– Access to Innovation: Sounder’s unique group captive empowers employers to negotiate better rates, access stop-loss insurance as a safety net, and gain priority access to new benefit designs and innovations through direct contracting.
Achieving Cost Management and Enhanced Employee Satisfaction
By implementing well-executed, advisor-built strategies, Sounder Benefits helps organizations achieve cost management, improved care outcomes, and enhanced employee satisfaction. Sounder ensures that every dollar spent on benefits adds significant value, enabling companies at every growth stage to access world-class benefit and care innovations typically reserved for larger employers.
“Addressing these challenges, Sounder Benefits equips high-growth companies with the expertise and resources needed to implement top-tier benefits programs while effectively managing cost trends. Through cutting-edge data analytics, Sounder Benefits empowers employers to strategically utilize benefits in growth planning, unlocking access to more affordable and personalized healthcare options. Using a three-year rolling strategy, Sounder drives substantial savings, managing companies’ plans and making recommendations as business needs evolve.”
