I’m excited to tell you about MedPut: what they do, why people love it, and who is a good fit. Let’s get started…
The #1 financial fear for Americans is an unplanned medical expense. MedPut can help. It’s a secure and HIPAA compliant benefit that provides bill negotiation and 0% financing to help employees with out-of-pocket medical expenses. Their goal is to keep employees healthy, both physically and financially, without having to delay treatment; or tap into their savings, get a high-interest loan or credit card, or – worst case scenario – claim bankruptcy.
How does it work? Employees upload their unpaid or prepay medical bills – including dental, vision, pharmacy, consultations, tests, hospitalization, and even elective procedures – then MedPut negotiates to reduce the charges, and pays the provider on behalf of the employee. Once MedPut is repaid by the employee, they’re eligible for new financing.
To ensure that members still enjoy their existing lifestyle, repayments are made through small payroll deductions. As an added bonus, their spouse and dependants are included in the plan, at no additional cost. It only takes minutes to enroll, has no effect on credit scores, and will work with any provider or health plan in the U.S.
If an employee leaves the company, mid-repayment, there is zero financial liability to the employer, as MedPut will not seek recourse for the outstanding balance.
In this example, MedPut showcases the financial savings available to an employee with a $3000 dollar medical bill. Let’s say that MedPut is able to reduce the medical by 10%, the savings to the employee is half of that, or 5%, which equals $150 dollars. In addition, the 0% interest rate – as compared to a credit cards’ average 15% APR – eliminates another $225. Resulting in a total savings of $375 dollars.
People love MedPut because it reduces financial stress for employees and helps employers control their healthcare costs by improving utilization of high-deductible health plans and reducing stress-related absenteeism and turnover.
MedPut works for employers of any size and can be offered on an employer paid or voluntary basis. If you want to connect with MedPut for additional information hit the “Tell Me More” button at the end of this video.