South Florida Hospital News
Sunday September 22, 2019
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September 2019 - Volume 16 - Issue 3

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Health Insurance Program to Deliver Benefits for DCMA Members

The Dade County Medical Association (DCMA) Board of Directors is extremely pleased to announce the launch of a health insurance program for our members and their employees through a partnership with FBMC Benefits Management. This program signals our most significant foray into health insurance coverage for our members.

Employers continue to struggle with rising healthcare premiums and with employees who understand and recognize the value of the benefits that are provided by the employer. Physicians that own and operate independent practices are not immune to these challenges. In fact, physicians have a most unique and frustrating vantage point as they witness firsthand the realities of trying to provide care in the current health care system at the same time trying to secure affordable and accessible coverage for their employees. At the heart of the frustration for physician employers is an ability to bend the cost curve and lack of transparency on how their premium dollars are spent, oftentimes limited based on the limited number of employees that they employ.
 
For several years, the broader business community has been leading the effort to take control of their health care costs through transparency and accountability. Self funded programs enable employers to reduced fixed costs and control their overall spending by incentivizing employees to utilize health care resources in a more sophisticated manner. The success of these self funded programs with reducing costs while providing transparency has significantly increased the prevalence of self funded solutions.
 
This trend has been somewhat limited for physician practices due to the need to have a critical mass of employees to make it possible from a financial and risk tolerance perspective. It is this limitation that DCMA has been able to address through this partnership, expanding the ability for Physicians to take control of their employee healthcare options.
 
With this program launch DCMA Members can now join the captive self-funded program put together through our partnership with FBMC. FBMC has a great deal of experience providing employee benefit solutions to employers in the South Florida area, including Miami-Dade School District and Jackson Health System, amongst others. The team supporting the captive have extensive background in establishing and administering captive programs for regional and statewide organizations and understand and are able to answer many of the challenges and questions that may arise when considering joining this captive. The program will deliver transparency, control and cost savings in a turnkey solution that will not disrupt benefits for employees.
 
Most importantly, the program will transform health insurance benefits from an ever-increasing fixed premium, to a variable cost for which they have capped risk, full transparency and the ability to keep what they save. Practices with 20-200 employees will be the ideal beneficiaries of the program.

Fraser Cobbe is Executive Director of the Dade County Medical Association. Members interested in finding out more should contact the DCMA office at (305) 324-8717.

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