A growing number of companies that offer insurance to their employees are opting for Wayne-based Imagine360 over traditional health insurers such as Aetna to save on coverage costs, writes Harold Brubaker for The Philadelphia Inquirer.

Chapman Auto Group has been using Imagine360 services for nearly six years. The company saves around 20 percent a year on health coverage, according to Anthony Tigano, chief financial officer of Chapman Auto Group.

The company used to get a $3 million healthcare tab, which was split equally between the company and employees. Now, these costs have gone down to $2.4 million.

“Before this, we were continuously increasing deductibles, on prescriptions, doctors’ visits, hospitals,” said Tigano. But since switching to Imagine360 in 2018, “we’ve been lowering them.”

Imagine360 forgoes a large network of hospitals and doctors in favor of lower costs. Instead, the company signs a contract with one health-care system in a market it covers, the University of Pennsylvania Health System in the Philadelphia region, for example.

According to Imagine360 CEO Jeff Bak, the exclusive contract provides better rates for its self-insured clients, who pay bills directly instead of doing it through insurance premiums.

Read more about why people are choosing Imagine360 in The Philadelphia Inquirer.

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