To meet their fiduciary responsibilities and maintain adequate reserves Taft-Hartley funds are under constant pressure to maintain or reduce medical and Rx costs.
Understanding these costs is a challenge. The true costs for member medical and Rx services are hidden behind layers and layers of obfuscation.
For example, the actual prices paid to providers and drug manufacturers are buried deep inside claims data. Or meaningful fund-fund comparisons are hard to create as each union population has its own risk profile. And brokers, TPA’s, provider networks and wellness companies aren’t transparent about data as they have no real incentives to see their clients’ spend levels reduced.
To help address these challenges Wellter – in partnership with the Center for Employee Health Studies, part of the University of Illinois at Chicago’s (UIC) School of Public Health – offers Wellitix, a subscription based analytics service that provides ongoing actionable insights into the drivers of medical and Rx costs for Taft-Hartley funds.
Learn about the Wellitix platform or contact us today for more information.