Purple cow employee benefits 2011 (the short version)
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Employee Benefits for SME
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Transcript of Purple cow employee benefits 2011 (the short version)
Employee Benefits for SMEEmployee Benefits for SME
Moo! Moo!
1“What is a Purple Cow?”A unique product that stands out in the field.
“What is a Purple Cow?”A unique product that stands out in the field.
Gotuaco’s Purple Cow is a unique Healthcare product that stands out in the field of EMPLOYEE BENEFITS.
Gotuaco’s Purple Cow is a unique Healthcare product that stands out in the field of EMPLOYEE BENEFITS.
2The Purple Cow Vision:
financial security through employee benefits.
The Purple Cow Vision:
financial security through employee benefits.
Purple Cow believes that financial security can be achieved through equal access to employee benefits.
Purple Cow believes that financial security can be achieved through equal access to employee benefits.
The Purple Cow Mission:
to protect employees from financial insecurity.
The Purple Cow Mission:
to protect employees from financial insecurity.
Purple Cow provides you with many layers of protection, to stop you from losing money to medical emergencies.
Purple Cow provides you with many layers of protection, to stop you from losing money to medical emergencies.
The Purple Cow Core Value:
take care of the hands that take care of you!
The Purple Cow Core Value:
take care of the hands that take care of you!
Purple Cow believes in helping those who help you grow: if not thru more compensation, then thru more benefits.
Purple Cow believes in helping those who help you grow: if not thru more compensation, then thru more benefits.
Purple Cow gives you all of today’s major employee benefits in one single package, designed to provide ‘SULIT’ protection:
Group Life: P100,000 – P1,000,000
Group Accident: P100,000 – P1,000,000
Group Health: P20,000 – P200,000
More VALUE…
1
You give MORE employee benefits to all of your staff!
Purple Cow 2011
Value Proposition
Purple Cow saves you up to 60% on the 2 most frequently selected Room & Board categories, when you combine them with our recommended Maximum Benefit Limits:
Ward 20T: P5,445 or P5,990
Semi-Pvt 30T: P6,756 or P7,444
+ Less PRICE…*
2
You get LOWER rates for most of your staff!
Purple Cow 2011
Value Proposition
*(insured HMO plans apply to SME only; self-insured TPA plans apply to Large Companies)
Purple Cow provides Good News to each level of your organization:
Employees: More financial security
HR: Better recruitment & retention
Finance: Greater financial viability
CEO: Major ‘pogi’ points
= More HAPPY-NESS
3
You make EVERYONE happy – at the same time!
Purple Cow 2011
Value Proposition
What are Employee Benefits (EB)?
EMPLOYEE BENEFITS are incentives given to employees as part of an overall HR strategy to recruit or retain them.
EB can help you win the war for talent
1Purple Cow 2011
EB Primer
What is the purpose of EB?
“The purpose of EMPLOYEE BENEFITS is to increase the economic security of employees.”
- Wikipedia
EB can help your employees become financially secure
2Purple Cow 2011
EB Primer
1. Paid vacations, 75% 2. Health insurance, 61%3. Paid sick leave, 59%4. Disability insurance, 41%5. Education reimbursement, 39%6. Pension plan, 30%7. Life insurance, 29%8. Dental insurance, 24%
What are the most common EB?
All 4 insurance benefits are offered in Purple Cow!
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- Small Business Poll on Compensating Employees (NFIB, US: 2003)
Purple Cow 2011
EB Primer
Benefits OverviewLIFE – ACCIDENT – HEALTH
LIFE
1. LIFE INSURANCE * Total & Perm. Disability Income
HEALTH
3. MEDICAL HMO * 21,519 MD, 352 hospitals, 358 clinics
4. DENTAL HMO * 775 dentists, 645 clinics
5. Opt. Annual Physical Exam * 124 hospitals, 241 clinics, 31 mobile
6. Health & Wellness Program * 2x/year; tailored to utilization report
ACCIDENT
2. ACCIDENT INSURANCE
a. Accidental Death * Murder
b. Disability * Assault
1Purple Cow 2011
Benefits
Benefits SummaryLIFE – ACCIDENT – HEALTH
1. Life = 5x MBL 13. 100% Pre-Existing Conditions coverage
2. Total & perm. disability income = 5x MBL 14. 100% Congenital Conditions coverage
3. Accidental death = 5x MBL 15. Benefits on top of Philhealth
4. Murder = 5x MBL 16. Special procedures = 30%/100% of MBL
5. Accidental disability = __% of 5x MBL 17. Opt. Outpatient Reimb. for meds, dental, vision
6. Assault = __% of 5x MBL 18. Dental = HMO (775 dentists / 645 clinics)
7. Medical = HMO (21,519 MD / 352 hospitals / 358 clinics) 19. Dental access to major malls in Metro-Manila
8. Access to Big 5 Hospitals & Healthway 20. 1 permanent filling, 2 oral prophylaxes, etc.
9. Combined inpatient & outpatient limits 21. Opt. APE = designated or mobile clinic
10. Max. Benefit Limits per disability per year 22. Health & Wellness Program 2x/year
11. HMO patient for no-cash-out 23. Same benefits for all Employees
12. Private patient for reimbursement (HMO rate) 24. Same benefits for all Dependents
2Purple Cow 2011
Benefits
Cost Summary (APE & O/P Reimb. extra)
R&B MBL ANN SEMI QTR MO R&B MBL ANN SEMI QTR MO
WARD(R+F)
20T 5,445 2,886 1,525 545 REG PVT
(Top rank Small co 10-100)
60T 11,985 6,352 3,356 1,199
30T 6,176 3,273 1,729 618 70T 13,041 6,912 3,651 1,304
40T 6,795 3,601 1,903 680 80T 13,472 7,140 3,772 1,347
SEMI PVT(Spvr)
30T 6,756 3,581 1,892 676LRG PVT
(Top rank Med co
100-200)
80T 15,726 8,335 4,403 1,573
40T 7,416 3,930 2,076 742 100T 16,826 8,918 4,711 1,683
50T 8,122 4,305 2,274 812 120T 18,444 9,775 5,164 1,844
SML PVT(Mgr)
40T 8,787 4,657 2,460 879JR
SUITE (Top rank Large co
200+)
120T 26,724 14,164 7,483 2,672
50T 9,513 5,042 2,664 951 160T 30,536 16,184 8,550 3,054
60T 10,323 5,471 2,890 1,032 200T 32,813 17,391 9,188 3,281
1Purple Cow 2011
Costs
VIRGIN RATES
Cost Summary (APE & O/P Reimb. extra)
R&B MBL ANN SEMI QTR MO R&B MBL ANN SEMI QTR MO
WARD(R+F)
20T 5,990 3,175 1,677 599 REG PVT
(Top rank Small co 10-100)
60T 13,324 7,062 3,731 1,332
30T 6,770 3,588 1,896 677 70T 14,487 7,678 4,056 1,449
40T 7,426 3,936 2,079 743 80T 14,924 7,910 4,179 1,492
SEMI PVT(Spvr)
30T 7,444 3,945 2,084 744LRG PVT
(Top rank Med co
100-200)
80T 17,540 9,296 4,911 1,754
40T 8,146 4,317 2,281 815 100T 18,691 9,906 5,233 1,869
50T 8,903 4,719 2,493 890 120T 20,444 10,835 5,724 2,044
SML PVT(Mgr)
40T 9,738 5,161 2,727 974JR
SUITE (Top rank Large co
200+)
120T 30,052 15,928 8,415 3,005
50T 10,518 5,575 2,945 1,052 160T 34,225 18,139 9,583 3,423
60T 11,395 6,039 3,191 1,140 200T 36,618 19,408 10,253 3,662
3Purple Cow 2011
Costs
NON-VIRGIN RATES
CEO Features CEO Benefits
Happier Employees
very pogi
CEO!
Happier HR
Happier Finance
♣What’s in it for the…CEO?
4Purple Cow 2011
Summary
5% of Salary (Max!):
that’s all you need for Purple Cow.
The cost of Purple Cow:
5
Why pay MORE if you can pay LESS? (and still cover up to 99%)
Purple Cow 2011
Conclusions
Treat Purple Cow as:
1) a social investment in staff (CSR);
2) a recruitment & retention tool (HR);
3) a cap on your financial liability (FIN).
Our Recommendation:
6Purple Cow 2011
Conclusions
Purple Cow makes good business & social sense
1 ‘Large’ Size Fits All SME: If you are an SME, with 10+ employees, you can join Purple Cow, be part of a bigger group, and be treated like a large company.
(Unlike most HMO plans)
You can enjoy the same toys as the Big Boys
1Competitive Advantage #1:
Purple Cow 2011
Why Purple Cow?
Same Benefits for Dependents: Dependents can get the same benefits, terms and conditions as Employees
(as well as the same costs in 2011).
(Unlike most, if not all, HMO plans)
Your Dependents are treated like Employees
19Purple Cow 2011
Why Purple Cow?
Competitive Advantage #19:
The Price is Right: Purple Cow rates are lowest where they matter the most: in the 2 lowest categories, where you enroll up to 90% of your staff.
(Unlike most HMO plans)
You get the greater good for the greater number
20Purple Cow 2011
Why Purple Cow?
Competitive Advantage #20:
The Design is Right: Purple Cow provides medical necessity,
not luxury. Savings from excess R&B/MBL are reallocated to benefits of greater use.
(Unlike most HMO plans)
Your R&B/MBL combos are good up to 99% of the time
21Purple Cow 2011
Why Purple Cow?
Competitive Advantage #21:
31Purple Cow 2011
Why Purple Cow?
Non-Employees can Win, too: you can even cover agents, associations, and multi-purpose cooperatives, as long as certain selection & payment criteria are met.
(Unlike most HMO plans)You can offer Employee Benefits to Non-Employees
Competitive Advantage #31:
Virgins can Win Even More: you get a 1st year Virgin promo rate
if your company has never had group insurance or HMO before.
(Unlike all HMO plans)
You can renew at the prevailing Non-Virgin rates in 2012
32Purple Cow 2011
Why Purple Cow?
Competitive Advantage #32:
Large Companies can do a TPA: if you become a Large Company, you can self-insure as a stand-alone account, using the same Purple Cow schedule of benefits.
(Unlike all TPA plans)You can switch from insured to self-insured plans easily
33Purple Cow 2011
Why Purple Cow?
Competitive Advantage #33:
For more information, please visit www.purplecow.ph,
…or contact Tom Gotuaco via email or mobile phone.
Renowned author Seth Godin approved my use of the term PURPLE COW (2/4/09): “It’s fine with me, just please make it clear that I haven’t endorsed your
service.”
Renowned author Seth Godin approved my use of the term PURPLE COW (2/4/09): “It’s fine with me, just please make it clear that I haven’t endorsed your
service.”
DisclaimerDisclaimer
