A Letter from the New CEO of The Difference Card

October 5, 2022

A Letter from the New CEO of The Difference Card - Joseph Donovan

Benefits are in my blood.

I have done one thing in my entire 20-year career and that’s employee benefits. I have worked for an insurance carrier, an insurance broker, and for The Difference Card. So, for better or worse, healthcare has and always will be, a deep part of my identity.

I don’t have to tell you what you already know- healthcare is expensive. I have sat in hundreds of meetings as companies grapple with the gut-wrenching decision on how to reduce their healthcare spend without passing the cost onto their employees.

The honest truth is that there is no silver bullet for small to mid-sized businesses. It is not a level playing field. If you are not big enough to play by the different set of rules the Fortune 500 plays by, then you are getting the short end of the stick.

From my years working as an insurance broker, I understand that brokers are fighting for their livelihood on a daily basis. They are constantly sorting through an ever-growing list of point solution vendors that claim to be THAT “silver bullet” for their clients, but those same vendors rarely deliver on their promises.

It doesn’t have to be this way.

Building a better way.

Traditional methods of building health plans get more expensive every year. I am not here to tell you that traditional health plans are bad, but I am here to say that there are alternative, more cost-effective ways.

Anyone who knows me understands that I have never been one to simply follow the flock. I am constantly pushing the boundaries of what is possible- looking to improve, innovate and find a more efficient path forward.

That was the original reason I joined The Difference Card in 2008 and it’s the reason I am back today as CEO. Innovation is at the heart of The Difference Card, and I am thrilled to be in the driver’s seat as we set a course for bigger and better things.

Looking forward.

As CEO of The Difference Card, there are the three things I plan to focus on in my first year:

  • Innovation.
    I intend to push the envelope of what is possible when designing health plans. We must create cost-savings solutions and services that our broker partners are excited to tell their clients about. These solutions need to give our partners a competitive advantage in the market - solutions that deliver hard dollar savings to employers without pushing costs onto their employees.
  • World class service.
    Healthcare is complicated and it's expensive. We need to do our part in alleviating both issues. If savings comes at the expense of frustrated employees, it’s hard to look yourself in the mirror at night and claim success. Our broker partners, our clients and all their employees deserve a simple, best-in-class service experience that doesn’t break the bank.
  • A mission driven  team.
    Our team shows up every day on a mission to deliver better benefits at a better price. Healthcare is the number one cause of bankruptcy in this country and every one of our team members plays a role in reducing that cost burden for our clients. We have incredible talent at The Difference Card and it’s my priority to build an elite, mission aligned team. It certainly helps to have such an impactful mission to wake up and fight for every day – lowering the cost of healthcare.

In closing.

As I rejoin this amazing organization, I feel grateful for our strong national presence paired with incredible broker partnerships. This will allow us to expand our product offering, quickly get to market, and make a difference in an industry that so desperately needs it.

I started this letter stating that there is no silver bullet for every company in this country to reduce cost. While this is true, at the Difference Card we operate with a “silver bullet mentality” knowing there is always more than can be done.

The status quo has created a healthcare environment where we pay more yet receive less. If you are willing to look outside the box and align yourself with our mission driven team that prioritizes innovation and world-class service, I promise we can guide you to better benefits.

Great things to come,
Joseph Donovan
Chief Executive Officer
The Difference Card

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