1. Innovations in financial well-being SimplicityComplete and MoneySteps
Clare Smith, CoreSource Dave Flores, Trustmark

2. A healthcare financial benefit for the new Healthcare Consumer built on the backbone of the largest payment processor in HealthCare
ECHO Health Inc. – 20 years of experience in large and small scale payment transactions and information security
ECHO CEO and owner, Bill Davis, is passionately dedicated to improving the healthcare reimbursement system.
CoreSource has been working with ECHO to co-develop Simplicity for about 3 years now

3. Problems facing employees
Employees are taking on more of the cost for their care
Increase in average member deductible over the past 10 years1
250%
The healthcare payments industry is going through a major shift. More and more of the financial obligation is being covered by patients. This is a relative shock to the system for patients as they aren’t used to this level of financial engagement. These bills can be substantial for families. This has thrust them into a new world and they are struggling to acclimate.
¹ Agency for Healthcare Research and Quality : Medical Expenditure Panel Survey-Insurance Component, private-sector establishments, July 2016.

4. Employees are moving from Passive Patient to Active Consumer
They’re confused!
Receive multiple bills from several different entities for one visit and have trouble understanding the basics of what they owe.
Consumers are uncomfortable with their knowledge of benefits and healthcare
They aren’t “shopping smarter”
Easiest way control their costs is to forego treatment or simply not pay.
2 of the top 4 American financial worries are about healthcare cost

5. a new healthcare reimbursement process that makes payments easier for everyone
Employees (Members)
A streamlined billing and payment process that was designed to function like other modern consumer-focused industries.
Providers Delivering the expedited and complete payments they’ve always wanted while taking them out of the billing process entirely. $
Employers The opportunity to add tangible and financial value to benefit plans and improve their employees’ healthcare experience at no cost.
Acutely aware of the issues facing the current B2B reimbursement process and the need for innovation in this space.
Simplicity addresses this with a B2C solution
Fusion of financial and healthcare industries
It also does something for providers they have not seen since the early days of managed care – Simplicity essentially creates “a first dollar network” for providers

6. Consumer Experience Current ModelH $

7. H Consumer Experience Simplicity $
Co-pays still paid at provider at time of service
Co-insurance and deductibles for in network claims

8. Interest-free payment plan
33%
Payment plan is built into the process as a minimum amount due
No need for members to take extra steps to take advantage of plan
Sync with HSA contribution timing
Removes barriers to access – including any stigma * * * *
No credit approval required
Can need to “sign up” for plan – can access by making the minimum payment due (1/12 of balance)
Rolling 12 month thereafter
$15K in medical debt placed on a charge card can take 11 years to pay off and cost $18K in interest
Member has to continue to pay to stay in the program
2 missed payment and pre-funding will stop
Soft collection efforts

9. Key aspects of Simplicity Consumer-focused experience*
Payment portal was designed to be intuitive and familiar to the modern consumer. *
Creates a “one-stop shop” where a member can pay for all bills AND access benefits documents. *
Available integration with Plan portal makes the process even easier for members.

10. 78% * * * Key aspects of Simplicity Member incentives
Overwhelmingly supported by thousands of survey and focus group respondents.
78% *
Members can earn up to 5% SimpleRewardsSM credits for paying Simplicity bills. *
Aids in shaping behavior and making healthcare bills as easy as utility bills.

11. Additional value to members
Financial Protection Medical expenses can be overwhelming and possibly catastrophic. Simplicity is a safety net and offers protection from high out-of-pocket costs with 12-months interest free.
Empowerment Healthcare bills are intimidating. Simplifying the process and delivering a “home court advantage” to consumers helps them build confidence and ownership.
Advocacy Members get support and education from industry experts to navigate the complexities of healthcare expenses. They benefit from someone helping them while they focus on their health.
Value to Employers:
- Adding Value to Benefits Without Adding Cost
- Increased Employee Satisfaction
Demonstrates that the Employer values employees by recognizing and acting on their healthcare concerns.
Offers access to interest-free loans and SimpleRewards.
- HR Advocacy - Reducing Administrative Overload
HR professionals have their own designated phone number to call for anything related to their employees’ provider bills.
Lets HR focus on more strategic goals.

12. Provider engagement
Q: Who pays for Simplicity? A: The Provider who delivers the service
Small percentage is removed from Complete payment and is used to fund the program and the SimpleRewards.
Network agnostic – percentage automatically varies based on network contracts so it works with everyone. *
Average Simplicity funding amount is between 3% and 3.5% of Billed Charges
Q: How are Providers engaged? A: Two methods: Active and Passive
Simplicity has hired a global contracting agent to contract with providers for the Simplicity service (Active)
Payments are tendered to providers who can accept or reject (Passive)
Increased Liquidity and Decreased Bad Debt - One, expedited, SimplicityComplete payment for both the Payer and Patient liabilities increasing their cash flow and reducing days in A/R
Reduced Costs - Providers experience significant reduction in cost-to-collect, including bad debt, and other related administrative burdens
Patient Steerage - SimpleRewardsSM are only available when used for payments made to Simplicity-participating Providers
Improved Patient Relations - Simplicity takes the Provider out of the financial process, improving the doctor-patient relationship and increasing Patient Satisfaction

13. Simplicity Rollout CoreSource is an exclusive Co-Developer
Created an 18 month pilot for ~4,000 employee lives
$2MM of Simplicity – funded member payments
300+% reduction in member billing statements
4,000+ providers accepted payments (94%)
400 CoreSource clients using the Simplicity Online Payment Portal
Staging SimplicityComplete availability starting Q3-2017
Network Support
Simplicity has been presented to key networks with positive feedback
Select networks will be invited to become a Simplicity Certified Network
$25MM in billed charges - $12MM in total payment

14. Questions

15. A Personalized Financial Wellbeing Solution
David Flores, Vice President
 847/ office  773/ mobile

16. A Personalized Financial Wellbeing Solution
Participant Experience
Communications that raise awareness of the program and financial topics through campaigns, newsletters, posters, online and in-person events and seminars
Website –
Financial survey / financial wellness score
Recommended reading & video / library - customizable
Budgeting / Account Aggregation Tool
Goals and to-dos
Financial calculators
Financial coaching
Employer Support
Implementation planning and execution that ensures consistency with corporate culture and other resources available to participants (EAP, 401k, H S A, etc.)
Reporting / Analysis

17. Financial Coaching Typical Coaching Topics The Coaching Experience
Help with future goals like retirement savings, college tuition, or saving for a major purchase
Emergency Savings Fund
Saving and paying for healthcare expenses
Debt reduction plans
Feeling less stress about finances
Development and maintenance of a spending plan that works for the participant
The Coaching Experience
Unlimited one-on-one sessions
Coach communication by phone or secure messaging through the website,
Onsite coaching is available
Online appointment scheduling
Coaching priorities are participant driven to maximize engagement and address most pressing areas of anxiety
No solicitation of products
No fiduciary advice
Confidentiality, privacy, and security

18. Meet the Coaches Financial Coaches
All coaches are Certified Personal Financial Counselors, certified by Fincert.org, Center for Financial Certifications
Experience in personal finance, financial planning, investments, financial wellness programs, and health coaching & advising
Bjorn Larson
Bethel University – MBA / Finance & Accounting
Target Corporation - Benefit Analyst, Financial Wellbeing
The Hartford - Financial Analyst, Investment Portfolio Finance Division
Lauren Glorvigen
Minnesota State University – Master of Exercise Science/Exercise Physiology
HealthFitness, A Trustmark Company – Health Coach & Health Advisor
Peter Waitzman
Thrivent Financial - Economist & Investment Manager
HSBC - Sr. Business Analyst
Licensing
Finra Series 7, Series 66
Illinois Resident Life & Health License
Certified Fund Specialist

19. Financial Coaching Charge
Pricing
Pricing Method
PEPM
Financial Coaching Charge #1
$4.00
Included in pepm #2
$1.67
$200
per coached participant
What’s Included:
Implementation and ongoing participant communications
Monthly newsletter and webinar
Participant website
Unlimited one-on-one financial coaching
Employer Reporting
Engagement stats
Demographics
Participation metrics, including topics covered
Financial Wellness Scores T1/T2
We are flexible on the methodology by which pricing is charged. Listed above are the most common methods requested for the program’s base pricing.
Final pricing is determined on a case by case basis
Factors that impact price include employer size, number and scope of onsite services provided, and customized configurations of the technology platform
Base pricing is set as per the values noted above, which are net of commission. For clients with effective dates in 2017, first year pricing will be discounted significantly for the initial program year

20. Survey  Education  Calculators  Budgeting Tool  Financial Coach