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The current benefits environment is challenging for any organization. Inflation and healthcare costs continue to rise. Those two can compound each other when considering the cost of medical goods and services.
An aging population is driving those costs up between 3% and 5% annually, with liability increasing along as plan members continue to age. Premium costs are going up at sometimes double-digit rates, so people like Denise Cruz, head of global benefits at Reddit, and those across the benefits space are being asked to creatively evolve benefit programs to support employees along the way.
For the last year, Cruz has helped Reddit transition to a self-funded insurance model for its health benefits.
“With this change, we were able to deliver on lower moderate changes and low disruption to our employee population,” Cruz explains. “We’re continuing to offer personalized and integrated care for our employees that helps steer utilization through low-cost, quality centers of excellence that improve positive clinical outcomes and reduce waste.”
Cruz believes that by investing in proactive behaviors like early prevention and wellness, organizations like hers can drastically cut down on the high-cost claims that neglecting one’s health can create further down the line. In short, more holistic wellness starting now will always cost less than emergency and often harrowing emergency services will cost later.
The Five Pillars of Denise Cruz
Denise Cruz has five pillars that inform the way she works, the way she learns, and the way she lives. These principles have guided her, and maybe they will inspire you along your own journey.
1. Learn what’s stopping you. “There are real and imagined roadblocks throughout your life. Before you can overcome them, you have to understand what they are. It’s an important first step.”
2. Identify your why. “What is the driving force that gets you out of bed every day? For me, it’s about people and making the world a better place.”
3. Adopt a winning mindset. “Try to remove your ego and your pride from the decisions you make. Instead, try empathy for others and yourself.”
4. Where focus goes, energy flows. “I want to inspire my team to learn, to grow, and to do more. I want to be a positive energizer, not an energy vampire.”
5. Remember who you are. “There will be times in your journey when you will change directions. If you know who you are and why you’re making that choice, it’s so much easier to manage.”
The benefits head says equity in care is also a vital part of Reddit’s mission.
“Dr. Shantanu Nundy said it best: Improving the quality of healthcare without health equity would be a hollow victory,” Cruz explains. “Companies should work to address gaps and remove barriers for more equitable healthcare. At Reddit, we have infused D&I principles and benefit programs to not only make our culture more inclusive, but also because we know it’s the right thing to do. It’s nice to have a seat at the table and lead that foundational work of implementing inclusive benefit programs.”
That requires a lot of homework, and the findings can be disheartening. Like the fact that Black Americans have wildly disproportionate access to maternal and infant health, and infant mortality rates reflect this. There are real and significant barriers to care for people of color, and it’s no surprise these barriers are most present in rural areas and communities with a disproportionate number of Black patients. Those are communities where closures of hospitals and obstetric units are highest.
As Cruz helps her organization evolve, evidence suggests that most companies offer 5-15 benefit perks but usage is below 50%. As prices continue to increase, Cruz wants to find creative ways to deliver options that drive engagement and continue to support employees. Her team is working to move to a lifestyle spending account that can meet employees where they are and support them as they move through different life stages.
“The idea is to provide flexibility and choice and support life as it happens,” Cruz explains. “If you need that wallet for wellness, financial advice, career coaching, or pet care, you can [use it]. We think this human-centric approach is the right way forward and will help us retain and attract employees because it really caters to them as individuals.”
Cruz’s journey to Reddit began as a child in Guadalajara. From a young age, Cruz felt called to help bring community, belonging, and empowerment on a massive scale. It’s that drive that brought her to the US, even though she says she was terrified. Those fears haven’t disappeared, but the benefits expert has learned how to turn the volume down.
“I have dealt with imposter syndrome most of my life,” Cruz says. “But I’ve found that being put in roles where I was uncomfortable provided me with the greatest opportunity to grow. Reddit has given me the opportunity to bring my true self to my work. I think my culture and background are instrumental to the success I’ve experienced, and I want others to feel the same way.”
Cleo is the only global, end-to-end family care platform supporting employees throughout every caregiving stage. Whether they’re growing their family; raising children or teenagers; caring for an adult loved one; or taking care of their own health, Cleo provides coaching, concierge support and navigation to resources so that they can be happier, healthier employees.
Cleo works with employers like Reddit to decrease burnout, increase productivity, and reduce healthcare spend. Our expert global Guide network supports members in more than 70 countries around the world in 17+ languages.
For more information and a free ROI analysis for your organization, contact [email protected].
