Fallon Health has begun offering financial incentives the Worcester insurer says will help midsized employers lower healthcare costs.
The new programs, announced Thursday by Fallon, includes a 5% premium credit provided to employers if their medical expenses are lower than 89% of premiums they pay. The credit is available to members who have between 50 and 99 employees.
Another program will give a credit if Fallon fails to meet certain objectives, including offering a dedicated implementation manager, a dedicated account manager and receipt of member identification cards within eight days of enrolling.
Employers under the second program will receive a $5,000 credit if those objectives aren’t met. Employers eligible for that program must have between 75 and 99 enrolled employees.
