SME™
5% of Americans accounted for 49% of Out-of-Pocket spending, averaging $19,500 annually according to the Peterson KFF Health Tracker*.
Between 5% and 18% of your employees are being crushed with Out-of-Pocket medical expenses. 360’s Special Medical Expense™ program is designed to support individuals and families who are drowning in a sea of high out-of-pocket medical expenses month after month, year after year. As a compassionate caring employer, implementing SME is the equivalent of throwing them a life ring.
SME™ is deployed at NO COST to the employer. To learn how you can provide a financial lifeline to your employees in the greatest need email us at [email protected] today.
The 360 Special Medical Expense™ program is crafted to provide financial assistance to individuals and families grappling with persistent high out-of-pocket medical costs. This program, abbreviated as SME™, is tailored to the needs of a specific audience. For the majority of employees, health insurance coupled with the flexibility of an FSA or HSA provides the coverage they need.
Within two months of getting an alarming mammogram, a woman can be billed $8,150 to cover the costs of related diagnostic tests. Her health plan would cover all the costs of treatment for breast cancer after these tests because she already paid for expenses up to her out-of-pocket maximum. But in the following year, she will have to pay that same amount again for ongoing treatment and testing. With a typical income of $42,000, she will spend 1/5 of her income on health care two years in a row.3 Her savings will be gone, and she will be in debt. One more year of high costs will likely push her into bankruptcy.
One in five households is caring for a special needs child. Nearly 15% of families with children who have chronic health conditions including autism, epilepsy and cerebral palsy have scaled back their participation in the workforce. That figure jumps to more than 40% in families of children with intellectual disability. The adult remaining in the workforce carries an emotional and financial burden greater than most can imagine.
Persistent high Out-of-Pocket costs are those that exceed 5% of a person’s income for two years in a row. This problem of persistent high Out-of-Pocket costs affects 5% of working-age adults. Persistent high costs are particularly likely for people with heart disease, cancer, diabetes, cerebrovascular disease, osteoarthritis, and endocrine disorders.21
You can use the 360 SME™ Calculator to determine your your available benefit for monthly claims, the monthly premium and your SME™ savings.
Select your current monthly out of pocket medical expenses from the drop down menu, how you file you taxes, your income range, and your state tax rate if any. The SME™ Calculator does the rest for you.
The savings are significant and in some instances so large you may doubt them. When in doubt speak to your Benefits Administrator or email us at [email protected]
Embedded within all 360 PLUSS™ programs is a potent AI tool: Digital Therapeutics, seamlessly dispensed through SMS text messaging. These cutting-edge therapeutics transcend physical health management; they bolster your employees’ behavioral and emotional well-being. A lifeline of utmost importance, particularly for individuals grappling with overwhelming Out-of-Pocket medical expenses.
SME™ is deployed at NO COST to you as the employer. To learn how you can provide a financial lifeline to your employees in the greatest need email us at [email protected] today.
360 New York, 1180 6th Ave, New York, NY 10036 Main Line (917) 983-0525