Sola enables small employers to self-insure health benefits

COLLINSVILLE, Conn., August 17, 2022 /PRNewswire/ — It was announced today that Goodroot has launched Sola, a comprehensive strategic healthcare partner that works with employers to design personalized healthcare benefits to reduce costs and improve results for employees. With Sola, fully insured organizations, which pay premiums to insurance companies, can switch to a self-funded model without incurring additional risk while saving up to 50%.

“Employers with between 2 and 500 employees are typically fully insured and as a result see health benefit costs increase each year,” says Sola’s president. Erik Wallace. Erik leads Goodroot’s commercial sales team which focuses on providing cost containment solutions to employers, brokers and third party administrators, and also leads our market-facing companies, Sola and CoeoRx. Her role gives her first-hand knowledge of what customers want and need. “There is a myth that self-insurance involves a lot of risk. But it doesn’t have to be. You just need to have the right pieces in place. Sola orchestrates the whole picture for employers.”

Leveraging economies of scale, risk management, cost control, specialty pharmacy management, holistic health solutions such as telehealth and mental health, and many other strategies, Sola collaborates with the employer and its benefits partners to tailor solutions to the unique needs of the organization.

Sola neutralizes the effect of large potential claims through a combination of drug and prescription drug cost containment strategies. The combination of these solutions creates additional discounts on stop-loss insurance, illustrating the importance of an integrated approach to creating a long-term profit strategy and controlling costs.

Health benefits are like engines. They have a lot of moving parts,” says Wallace. “Sola’s team helps employers and plan sponsors ensure that each element is best suited to their organization. The result is a fully personalized benefit that significantly reduces costs and provides employees with greater flexibility. “

Sola doesn’t rely solely on vendor networks, so employees can continue to see any vendor they like. For non-emergency elective care, Sola leverages data analytics to guide employees to providers and facilities with both the highest quality and cost ratings in their area.

As part of Goodroot, a community of businesses reinventing one healthcare system at a time, Sola integrates offerings from other Goodroot affiliates into the benefit, such as CoeoRx’s Best PBM Contracts and Audit of medical bills through Penstock.

According to the CEO of Goodroot Michael Waterbury“Sola gives companies of all sizes transparency and control over all aspects of their healthcare delivery. This is an entirely new model for these companies and one that is long overdue. Small businesses are the backbone backbone of the American economy, and it’s time small business owners have access to benefits and solutions that put the health of their employees and their bottom line first.”

About Goodroot
Goodroot is a community of companies reinventing healthcare one system at a time. With a shared mission to increase affordability and access to healthcare, Goodroot provides business infrastructure to help visionary healthcare professionals launch their own businesses to solve chronic system problems. Our affiliates – AlignRx, Breez, CoeoRx, Famulus, Penstock, RemedyOne and Sola – provide innovative services and strategic advice to healthcare stakeholders such as employers, brokers, PBMs, health plans, third-party administrators , pharmaceutical manufacturers and hospitals.

Media Contact:
Liz Chase
[email protected]

SOURCE Goodroot

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