[ad_1]
I’ve heard people joke that advertising is the only two main successful businesses at Google.But it may have found another hit: insurance other Employers object to potentially expensive medical care for their employees.
information Its healthcare company, Verily, reports that sales have more than doubled, making it Alphabet’s largest subsidiary after Google. It also reports that its health insurance business, Granular, is the biggest contributor to its growth. Granular’s revenue “increased nearly sixfold in the first nine months of last year, from $27 million the year before to $151 million,” writes Granular. information.
However, Granular does not sell health insurance to its employees. We sell “stop loss” insurance employer I worry that my workers’ medical claims will hurt them.
Not all companies, such as UnitedHealthcare, Anthem, and Aetna, help their employees pay for traditional insurance premiums billed by doctors (although these companies may act as intermediaries). possible). Some find it more cost-effective to pay for the employees’ own medical expenses with their own funds.
Anyway, Google/Alphabet/Verily’s Granular Insurance is one of many stop-loss insurers that promise to pay claims above a certain threshold in exchange for their own regular premium. Yes, this means that the registered company pays the premium, not the insurance premium. Not only are they betting that most employees do not have sufficient claims to justify traditional premiums, but they are also betting that some employees may be paying higher premiums. I’m also betting on the fact that I have sex.
What makes Granular different from other stoploss providers? It’s not very clear. The company advertises that “Granular uses an intelligent framework to better protect self-financed employers from volatility in the cost of a workforce with diverse health-related needs,” but it I think it just means it’s cheaper. I looked at some conference materials from the San Joaquin Valley Insurance Department in Fresno County, CA, and they said most of the time, Granular was taking over existing stop-loss providers. It sounds like you’re considering replacing it.
But Google believes that data will lead to more accurate bets, so it may be more competitive. The San Joaquin Valley Insurance Authority points out that Granular will offer services with “Point6.” Point6 appears to state that it “provides practical, integrated solutions that focus on his 0.6% of the employee population and drives his 35% of employers.” Medical bills. ”
Either way, it’s not quite the image I usually associate with Google’s health efforts. Originally, Verily was most closely associated with her lens dreams of smart contacts, but they were shelved for a long time.
[ad_2]
Source link
