Exceeding employee and employer expectations has always been our mission. Leading the way, with employee benefits and human resources solutions, to make a difference, since 1954. In the beginning, when employers first started offering group health plans, everything was much simpler. The average cost of health care per person was $100 per year, or $500 in today’s dollars. When health care costs increased, employee benefits became a major cost of doing business.
In the early 1990’s, it was obvious that something new needed to be done. The current solutions weren’t adequate. Health insurance premiums were threatening employer’s financial ability to pay competitive salaries, fund retirement plans and make a profit. In response, we spearheaded the creation of a state-wide employer purchasing alliance, which included 20 of Utah’s largest employers and over 200 companies in total. The Utah alliance reduced premiums for employers. Other employer coalitions organized across the country. We participated in the first national employer purchasing coalition and served on the board of directors. Today, The National Alliance of Healthcare Purchasing Coalitions is the leading employer purchasing organization. It continues to improve health and affordability.
In 2000, as a result of NBG Benefits ongoing quest to exceed employee and employer expectations, we determined we could take employee benefits to the next level if we worked directly with health care professionals, physicians and pharmacist, to create solutions that when offered in conjunction with the
traditional plans insurance companies and third-party administrators were offering our employer clients would improve overall performance and reduce costs. The following innovations were available to NBG Benefits employer clients at least five years before they were offered by insurance companies; DirectMD telemedicine, Prime Care concierge primary care and Medshopper consumer price comparison tool. These innovations were achieved because many NBG Benefits Advisors worked in the health care industry, before they started advising employers about health care benefits. Many have expertise in health care delivery as well as insurance and human resources. While health care cost have continued to grow both nationally and locally, NBG Benefits’ clients have fared better than most.
Employers and employees are struggling to keep up, as health costs continue to rise. The average cost of health care per person was $12,350 per year in 2020. It is typically the 2nd or 3rd largest expense for employers. At the same time, COVID-19 staffing demands and supply shortages created a crisis in the health care system. COVID-19 forced an industry-wide evaluation of existing practices. It also resulted in many new solutions. NBG Benefits’ is successfully incorporating these new health care solutions into employee benefits. The result is we’re exceeding employee and employer expectations, 97% of the time. We’re optimistic, innovation and continuous improvement will be the hallmark of the future. NBG Benefits is a full service employee benefits firm providing health, dental, life, disability, retirement and ancillary plans.
