If James Bond worked as abenefits advisor, you can bet reference-based pricing would beamong his arsenal of secret weapons. (Photo:Shutterstock)

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In the James Bond series of movies, 007 always had a secretweapon to get him out of a jam. Whether portrayed by Sean Connery,Pierce Brosnan or Daniel Craig, the debonair spy accomplished hismission with style and innovation every time.

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Today, employers are looking for the same type of innovation and forward thinking to solve theirseemingly impossible mission: stemming rising health care costs. Reference-based pricing(RBP) is one of the most impactful tools to help accomplish thislofty goal.

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Attendees of the 2019 BenefitsPRO Expo in Miami are leaders intheir respective markets looking to shatter the status quo withinnovative programs like RBP. Competitors who cast doubt on RBP arefollowers. They may fear the reaction of hospitals or questionwhether other clients have pursued this solution.


➤➤ Be sure to attend Lester J.Morales' Education Track session, “RBP 2.0: An advisor'ssecret weapon” April 3 at 4:15p.m. at the 2019 BenefitsPRO Broker Expo.


Most advisors believe that they are innovative, but theiractions might indicate otherwise. Innovation requires seriouscommitments beyond lip service.

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BenefitsPRO attendees can take one bold step in that directionwill be by learning how new approaches to RBP can truly be theirsecret weapon in adding value to employer customers and prospectiveclients. The session will review:

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• The evolution of RBP plans

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• How RBP is built as an effective solution to reducemedical costs and make employees become better health careconsumers without all the noise and balance bills

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• Program benchmarks to minimize employee friction andincrease engagement

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• Rx strategies to complement the transparency themeof RBP

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• Client and employee experiences with RBP

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Considering its ability to save an average of 18 percent to 22percent immediately on your client's health care spend, it'sdownright shocking just how few employers use RBP. This innovativeapproach results in little to no disruption for the providers thatplan participants can access, while more than 99 percent of claimssecure an agreed upon rate of reimbursement before a claim isincurred. (AKA, no balance bills).

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For all the 007s out there in the benefits advisory space: yoursecret weapon awaits.

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Get a head start on the RBPdiscussion: 

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