The rising costs of providing healthcare benefits to employees has created a shift in financial responsibility resulting in higher deductibles, co-pays, and co-insurance for employees

The bigger problem is no employee plans to get sick, so employees struggle with the ability to meet their financial responsibilities for their medical care. The result; US Medical Debt becoming the leading cause of personal bankruptcy in the U.S.

Financial Stress caused by this reality is having a negative affect on worker productivity.


The Problem

“43% of insured patients said they delayed or skipped physician-recommended tests or treatment because of high associated costs.”- Kaiser Family Foundation

The results of these delays include

  1. Higher claims experience and overall healthcare costs to the employer
  2. Decreased worker productivity due to complications caused by delayed treatment
  3. Frustrations and anger pointed to the employer from the employees that need care.
  4. Inequitable care provided to employees due to economic status
  5. Decreased Retention and employee morale

More than 79% of the patients FinPay serves enroll in a payment program they can afford prior to care so they can focus more on getting well and less on the stress of meeting their financial responsibilities for care.  Most importantly, patients thank FinPay for the experience.

  • Identify high-risk employeesFinPay analyzes historical claims data to reveal the factors that consistently create high out-of-pocket healthcare costs to the employee.
  • Develop Financial Wellness Policy: FinPay designs and develops a financial wellness policy for managing and incentivizing employees who meet the defined high-risk criteria.
  • Target & Segment High-Risk Employees: FinPay customizes processes that target and segment employees who meet any of the defined high-risk criteria into a customized curriculum for each risk category that is consistent with the Financial Wellness Policy.
  • Pre-Care Employee Engagement: FinPay’s Engagement Filter will determine which employee receive an automated engagement experience and which will receive a high-touch engagement with a FinPay Certified Payment Specialist who is trained in healthcare financial literacy to educate employee’s about their financial responsibility, cost-saving strategies, insurance benefits, and preauthorized payment programs. Staffing and training models are available.

The Employee

  • Financial access to needed medical care for all employees
  • Financial education on healthcare costs and obligations
  • Financial obligations and expectations are in line with employer health benefits
  • A wider variety of payment alternatives they can afford and have a good chance of paying
  • A superior financial experience and a higher appreciation of their healthcare benefits
  • Peace of mind

The Employer

  • Direct and measurable ROI
  • Increase care for employees that would have otherwise passed on or delayed needed care
  • Transparent and standardized healthcare benefits that are appreciated and valued by their workforce
  • Eliminate/reduce internal workflow for HR staff.
  • Transparency and integrity will strengthen workforce morale
  • Improved employee experience that compliments the employers’ attraction, retention, and engagement strategies
  • Improved workforce morale & productivity