Michael Engelhardt

Michael Engelhardt Email and Phone Number

The Benefits CFO | Making Benefits Truly Cost-Efficient - It's Time for the Benefits Revolution @ Alera Group, Inc.
Chicago, IL, US
Michael Engelhardt's Location
Greater Chicago Area, United States
About Michael Engelhardt

Decades of being told that benefits are an excessive and unavoidable "cost of business" have led to a complacency in the healthcare and benefits industry. I'm part of the 1% that sees things differently. I've pioneered the concept of "LEAN Benefits." โ€œThe Benefits CFOโ€ moniker underscores my commitment to maximizing efficiency and effectiveness through the principles of LEAN.While others treat healthcare and benefits like a product, I treat it as a process. Drawing from principles of LEAN and Six Sigma, I can help you extract the maximum value from your existing carrier.A benefits consultant with Alera Group, Health Rosetta Associate Advisor, and advanced healthcare strategist with 20 years in the insurance industry, ๐ˆ ๐ก๐š๐ฏ๐ž ๐ฌ๐ž๐ž๐ง ๐ก๐จ๐ฐ ๐ฌ๐ฆ๐š๐ฅ๐ฅ ๐œ๐ก๐š๐ง๐ ๐ž๐ฌ ๐œ๐š๐ง ๐ก๐š๐ฏ๐ž ๐ฌ๐ข๐ ๐ง๐ข๐Ÿ๐ข๐œ๐š๐ง๐ญ ๐ข๐ฆ๐ฉ๐š๐œ๐ญ ๐จ๐ง ๐ซ๐ž๐๐ฎ๐œ๐ข๐ง๐  ๐œ๐จ๐ฌ๐ญ๐ฌ. In a world where healthcare has been plagued by inefficiencies and excessive waste, I stand as a beacon of change for employers.I partner with companies dedicated to their benefit goals, to implement solutions that improve employee outcomes and experience, while delivering cost reductions between 15% and 30% - ๐ž๐ฅ๐ž๐ฏ๐š๐ญ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฏ๐š๐ฅ๐ฎ๐ž ๐œ๐ซ๐ž๐š๐ญ๐ž๐ ๐›๐ฒ ๐ž๐ฏ๐ž๐ซ๐ฒ ๐๐จ๐ฅ๐ฅ๐š๐ซ spent on employee benefits.My experience encompasses working with hospitals in the pre-ACA era to collaborating with private equity groups to optimize businesses, cutting out middlemen to making healthcare more affordable. Also an early advocate for transparent prescription drug programs, I aim to provide patients and healthcare providers with information and clarity. I have been a regular speaker on a wide range of industry related topics, including renewal negotiation strategies, healthcare financing and the Affordable Care Act.โžค WHO GETS RESULTS: Finance and HR execs that have clear business plans for growth, merger or acquisition, are having challenges attracting or retaining the key talent they need to accomplish their goals, or are tired of not being able to control their benefit outcomes like they control other aspects of their business.Let's break the cycle of complacency and start a conversation about how you can improve outcomes and slash costs.

Michael Engelhardt's Current Company Details
Alera Group, Inc.

Alera Group, Inc.

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The Benefits CFO | Making Benefits Truly Cost-Efficient - It's Time for the Benefits Revolution
Chicago, IL, US
Website:
aleragroup.com
Employees:
2435
Michael Engelhardt Work Experience Details
  • Alera Group, Inc.
    The Benefits Cfo | Making Benefits Truly Cost-Efficient - It'S Time For The Benefits Revolution
    Alera Group, Inc.
    Chicago, Il, Us
  • Gcg Financial, Llc An Alera Group Company
    The Benefits Cfo | Making Benefits Truly Cost-Efficient - It'S Time For The Benefits Revolution
    Gcg Financial, Llc An Alera Group Company Feb 2012 - Present
    Greater Chicago Area
    Healthcare is evolving, and it's time that we acknowledge and confront the rampant inefficiencies that have persisted for far too long. Having specialized in Health & Welfare for over 20 years, optimizing employee benefits over a range of industries, I leverage a unique Lean approach to improve efficiencies and drive the best possible outcomes. I partner with CEOs, CFOs, and HR leaders who share this commitment.The benefits approach I designed has consistently delivered a 15% to 30% cost reduction, while also enhancing employee engagement and satisfaction.โ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโžค HOW IT WORKSWe begin the process by understanding your organization, and where you want to be in the next 3-5 years, in order to align your benefits strategy with your business goals.Processing historical claims through our analytics platforms, we identify underperforming aspects of your benefits program and develop an initial opportunity report to serve as a blueprint. We then implement the tools, resources, and strategies to jump start results, and develop Key Performance Indicators to continually measure the success of our program, all while maintaining compliance with relevant regulations.โ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พโ€พDubbed a โ€œbenefits wizard,โ€ I am focused on delivering tangible results, from optimizing the PPO network to leveraging cutting-edge algorithms to find top-performing doctors. The magic happens when you witness the remarkable savings:50-75% lower out-of-pocket expenses for employees and 14-19% reduction in costs for employers. It's a transformation that addresses a myriad of issues, from engagement and morale to cost savings.Quality services are now available at moderate prices, with quantifiable results. These changes are creating a positive impact for employers, and I believe this trend will continue.Take control and contact me today.
  • Alera Group (Gcg Financial)
    Vice President Employee Benefits | Innovative Benefits Design For Better Outcomes & Savings Of 20%+
    Alera Group (Gcg Financial) Feb 2012 - Present
    Greater Chicago Area
    With 20 years in the insurance industry, I design, implement and manage employee benefit programs that create new opportunities for employers, aligned with business goals. My expertise extends to analyzing program results, keeping costs in check, and crafting strategies to protect employees' well-being. Skyrocketing healthcare costs pose a critical problem for both businesses and their employees' households. This financial strain is a burden that no company can ignore, and it's imperative that we address it head-on.I'm not just an advisor; I'm a catalyst for change, ready to empower you to achieve cost savings and improved benefits that benefit both your bottom line and your employees.Far beyond minor tweaks or incremental changes, weโ€™ll talk about eliminating co-pays and significantly reducing the financial burden taken out of employees' salaries to pay for healthcare. This is an opportunity for your organization to not only survive but to thrive by truly prioritizing the well-being of your team. My practice model is based on delivering client-centric services as well as best-in-class consulting, actuarial, communications and technology resources, such as:โ€ข Care Coordinationโ€ข Engineered Plan Designsโ€ข Transparency Solutions and Toolsโ€ข Telemedicineโ€ข Value-Based Benefits โ€ข Cost-Plus Health Plan Financingโ€ข Self-Insuranceโ€ข Health Care Captivesโ€ข Stop-Loss Co-operativesโ€ข Data Analytics and Modelingโ€ข Private Health Care Exchangesโ€ข Outcome-Based Wellness Programsโ€ข ACA Impact Studiesโ€ข Professional Employer Organizationsโ€ข Association Health Plans

Michael Engelhardt Education Details

Frequently Asked Questions about Michael Engelhardt

What company does Michael Engelhardt work for?

Michael Engelhardt works for Alera Group, Inc.

What is Michael Engelhardt's role at the current company?

Michael Engelhardt's current role is The Benefits CFO | Making Benefits Truly Cost-Efficient - It's Time for the Benefits Revolution.

What schools did Michael Engelhardt attend?

Michael Engelhardt attended University Of Illinois At Urbana-Champaign.

Who are Michael Engelhardt's colleagues?

Michael Engelhardt's colleagues are Carla Bensted, Kathlyn (Kate) Plagge, Bryan Marrichi, Patrick Hyland, Valentine Feeney, Cic, Lisa Allen, Jenny Bures.

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