Health benefits that know you better than Amazon

By Jiff CEO, Derek Newell.

When was the last time you opened Facebook or Twitter or shopped on Amazon and were surprised at how relevant an advertisement, recommended product, or piece of promoted content was?

Advertisers and digital marketing companies know us well. For years now, they’ve been using predictive analytics to understand what consumers want, what they might need, and what their next move may be– both online and off. They can do this, and do it so accurately, by leveraging ‘big data’ collected from nearly every action or transaction consumers make and analyzing it to identify trends, characteristics, and habits. That’s why those shoes you’ve been eyeing on Amazon keep popping up in your Facebook and Instagram ads.

Further, these digital ads often offer free shipping, discounts, and incentives to act. Not only do they know what you want, but they give you an added bonus for entering your credit card and hitting “buy.”

Getting the right product to the right person at the right time encourages purchase. But there are benefits for consumers too.

It’s easy to see the value in this for businesses. Getting the right product to the right person at the right time encourages purchase. But there are benefits for consumers too. Today, it’s quick and simple for me to find shoes I like, because Amazon knows my size, my style, and my hobbies.

In the same way, employers stand to benefit from using big data in “marketing” their health benefits to employees. And, in this case, employers’ and employees’ incentives are aligned – they both want better health at a lower cost.

The digital health revolution has created a wave of new health apps, programs, and services that address every health need – from fitness, to chronic disease, to health care price transparency. And most companies offer dozens of these health benefits to their populations.

But, employees are not aware of and are not using the benefits. And, employers have no way of knowing which benefits best fit their employees’ health needs, now or in the future. Employers and employees need a platform that brings all of these solutions together and uses predictive analytics to get the right solutions to the right employees at the right time – and encourages engagement in them.

Employers and employees need a platform that brings all of these solutions together and uses predictive analytics to get the right solutions to the right employees at the right time.

Jiff’s enterprise health benefits platform enables this, using data such as health plan enrollment, claims data, app behavior, data collected from the more than 40 pre-integrated services, and self-entered information to deliver individual employees personalized benefits that match their health needs.

But just identifying these needs is not enough; prediction without action is worthless. Employers can also take advantage of an oft-overlooked ACA provision, allowing up to 30 percent premium reductions, to incentivize their employees to use their health benefits and to make smart healthcare decisions. With Jiff, employers can offer employees access to personalized incentives and rewards based on what will most motivate them to engage in their health benefits and care. By helping employees get the tools and care they need, employers can control costs and create a happier, healthier, and more productive employee population. It’s a win-win.

Of course, there has been lots of buzz in the press lately about employers beginning to do this. Understandably, this increasingly common practice has led to concern about how much employers know about employees and whether that information is secure. Still, employees would like to be rewarded by their employer for making healthy choices.

Employees would like to be rewarded by their employer for making healthy choices.

At Jiff, we share this concern and make data security our top priority, serving as a trusted layer of privacy between employee health data and employers. Employees have their health plans and other entities share their health data with Jiff, in our HIPAA compliant platform, and we aggregate and de-personalize the data for the employer so they can see trends and understand what’s working and what’s not (without the threat of a wrongful termination lawsuit). Employees get rewarded for health actions and employers can justify the budget they spend on health benefits.

Employers face a tough challenge in continuing to provide quality health benefits to employees in a time of rising healthcare costs. Predictive analytics offer employers a promising way to get ahead of healthcare cost drivers by addressing health issues before they arrive. However, prediction without employee action delivers no value. With an enterprise health benefits platform, like Jiff, employers and employees can get the most of their health benefits and reach their shared goal of better health at a lower cost.