Transactional Benefits
The day-to-day costs that you can control with self-funded benefits.
Let's say you're a small business: 17 employees, 9 of them are under the age of 30, while 8 are married and have kids. Like many businesses, you provide benefits by insuring healthcare costs.
We all know that certain claims are going to happen every year; the predictable "stuff" like dental care, prescription drugs, and eyeglasses. Let’s call these what they really are: transactional benefits. Transactional benefits are a huge part of group benefits cost, but at the same time, it's what your employees want and use.
These benefits will likely impact your insurance premiums. That's because this type of coverage is not pooled. Premiums collected from a group have to cover the cost of claims. When claim costs go up, so do premiums. And they rarely go down! So, in a group benefits plan where healthcare is insured, employees using their benefits will just keep driving up your premiums.
What’s the alternative to insuring Transactional Benefits?
If the cost can be controlled as much as possible OR you can deliver these benefits to your employees in a more cost-efficient way, then a big problem is solved. This is where Blendable can help.
Blendable is changing the game. Our Health Spending Accounts and Enhanced Health Blends let you set your budget, then give employees the freedom to reimburse any eligible expenses. They provide coverage for the everyday stuff, while insured benefits cover unforeseen expenses. Find out how to open an HSA here!
The only surprises here are the fantastic options that you can't get anywhere else!
Learn More
Would you love to learn more about our solutions to cover Transactional Benefits for your team? Talk to a Blendable Team Member now, we're ready to help.
