SALT LAKE CITY, UT / ACCESSWIRE / October 17, 2024 / MotivHealth Insurance Company, a rapidly growing leader in health insurance innovation, is pleased to announce the appointment of Thomas J. Martel as its new Chief Executive Officer. Martel is a seasoned executive with a distinguished track record in healthcare and insurance leadership.
With extensive experience in the healthcare industry, including previous roles at Cigna-President of Large Employer Segment, running multiple health plans-Martel brings a wealth of knowledge of the healthcare ecosystem in driving growth, enhancing customer experiences, and leading transformative change. He joins MotivHealth after a successful tenure as Chief Growth Officer and Executive Vice President of Strategic Partnerships at HealthComp the nation's largest independent healthcare administrator, where he oversaw significant operational improvements, spearheaded initiatives to improve member engagement and satisfaction, and led unprecedented growth leading to its merger with Virgin Pulse, now Personify Health.
"We are thrilled to welcome Tom to the MotivHealth family," said Dave Hall, co-founder and Executive Chairman of MotivHealth. "MotivHealth's initial focus has been on level-funded, employer-sponsored health insurance to reduce overall claim spend, while providing an extraordinary member experience as we help them receive the care they need. Having proved our model, in 2023, MotivHealth's per member per month claim spend was approximately 30% below an externally validated market benchmark while delivering an overall member satisfaction of 97%.
"Building upon several years of double-digit growth, Tom will take MotivHealth into our next chapter as we expand our portfolio, offering ASO services to self-funded employers allowing them to benefit from MotivHealth's ability to lower claims costs, while providing a superior member experience," says Hall.
Additionally, expansion plans include entering new markets to make the MotivHealth advantage available to more individuals and families and expanding our industry leading Health Savings Account Administration and Managed Rx programs to the broader marketplace.
Hall, who co-founded HealthEquity (HQY), brings deep industry expertise and vision. The inception of MotivHealth was born from Hall's belief in reimagining the health insurance model, viewing Health Savings Accounts (HSA) not as a product but as a philosophy. This vision is built on MotivHealth's proprietary methodology of Engaging, Educating, and Rewarding members-delivering superior health outcomes and reducing costs well below industry standards.
Martel expressed enthusiasm about joining MotivHealth at such an exciting time, "MotivHealth has built a reputation for prioritizing its members' health and financial wellness. I am excited to work with this talented team to continue our growth, harness cutting-edge technology, and deliver a member-centric approach that ensures our clients receive the best care possible while managing costs."
ABOUT MOTIVHEALTH INSURANCE
MotivHealth Insurance is a Utah-based health insurance company dedicated to helping individuals and employers take control of their healthcare through innovative insurance plans, personalized wellness programs, and powerful health savings solutions. With a focus on transparency, preventive care, and affordable coverage, MotivHealth is revolutionizing how health insurance works by putting members in charge of their health and well-being.
For media inquiries, please contact:
John A. Anderson, EVP
(385) 881-8860 o
(801) 201-6824 c
janderson@motivhealth.com
www.motivhealth.com
SOURCE: MotivHealth Insurance Company
View the original press release on accesswire.com
