Below is our recent interview with Joel Ray, CEO at New Benefits:
Q: Could you provide our readers with a brief introduction to New Benefits?
A: New Benefits is a non-insured benefits provider, meaning we aggregate the most sought-after healthcare and lifestyle solutions like telemedicine, online therapy, earned wage access, fertility advocacy, caregiver support, and ID theft protection. Our clients strengthen their health plans with a customized blend of our 30+ non-insured benefits to help members navigate healthcare, find affordable care, reduce stress, and save time, all conveniently packaged in an easily accessible mobile app and web platform. Through regular use of their benefits, our members save millions of dollars annually on healthcare and everyday living expenses, increasing their happiness and productivity at work and home.
Q: What are the key benefits of using your services?
A: For our end user, the member, non-insured benefits help reduce health and financial stress. If you have the flu and don’t want to get out of bed to visit urgent care, then you call a doctor through your telemedicine service. If you need a root canal but already hit your dental insurance maximums, then you use your discount program to save money. If your car breaks down and you can’t afford the towing cost until next week’s payday, then you withdraw your earned wages now. These are all solutions provided by New Benefits.
The employee benefits brokerage/consulting firms, insurance companies, and associations we partner with benefit from our one-stop-shop solution. We provide the non-insured benefits, member engagement technology, brand customization options, administration, compliance review, and member support — all in one place. Our clients have limited time and resources to find and implement these services themselves. New Benefits works with brokers and agents to achieve strategic collaborative solutions with minimal effort needed on their end.
Q: Who is your ideal client and why?
A: The ideal New Benefits client has an existing audience who wants to save time and money. We mainly work with employee benefits brokerage/consulting firms who want to enhance their offerings to employer groups, insurance companies who want to differentiate their core products with value-add services, and affinity groups who want to improve member loyalty with increased membership value.
Q: What can we expect from New Benefits in the next 6 months?
A: New Benefits is a pioneer in the non-insured benefits space. For the last 30 years, we’ve sought out the most cutting-edge health and lifestyle solutions for our clients, and we’ll continue doing so in the next six months and beyond.
In terms of benefits, our focus over the next six months will be promoting our more recent additions: Health AdvocateSM Return Pass and My Instant Pay. Return Pass is an online health tracking questionnaire available through our app, capturing and aggregating employee responses about their health and recent exposure to determine whether employees are cleared to return to the workplace each day. This solution is critical and timely as employers are developing their “back to work” plans.
My Instant Pay gives employees access to their earned wages before payday. It’s an effective solution and requires minimal effort on the employer’s end. The on-demand pay platform integrates with the employer’s payroll system, giving employees immediate access to their earned pay for a small transaction fee. While solutions like this already exist for enterprise companies, we’ve partnered with Rain Instant Pay to be the first provider able to extend this service to small and mid-sized businesses.
New Benefits is also focusing on the member engagement experience and our pharmacy discount program over the next six months. Having great benefits is one thing, but they’re meaningless if not being used by the member. We are continuing to add new features to our mobile app and web portal, which members use to access their benefits, and creating more opportunities for our clients to communicate with and educate their members.
With medication costs continuing to rise, people need more affordable options. Our New Benefits Rx program saves members money on prescription medications for their whole family, including pets. Members can access a price comparison tool on the app to see estimated costs at nearby pharmacies as well as home delivery options. The member brings their prescription and New Benefits Rx card to the pharmacy and pays the discounted price. We’re focusing on expanding this program throughout 2021, including an option for the general public, to increase access to affordable medications.
Q: What’s the best thing about New Benefits that people might not know about?
A: New Benefits is celebrating its 30th anniversary this year, but people may not know we bring a “start-up” energy to our three decades of experience. Our company has the best of both worlds: the solid foundation, knowledge, and strength of a 30-year-old company with the innovative mindset and agility of a start-up. Our clients trust us because of our established nature, but we don’t stop looking for new ways to disrupt the benefits industry. Thirty years later, New Benefits continues to stay fresh, including a new website design launching soon.Activate Social Media: