Lowe’s Cos. Inc., the Fortune 100 home-improvement retailer, has winnowed its health plan offerings over the years, zeroing in on the most efficient models of care to offer employees across all 50 states.

Today, the majority of its 116,000 plan participants are enrolled in the Mooresville, North Carolina-based company’s two self-funded health plans.

“It’s really very simple for our employees,” said Bob Ihrie, Lowe’s senior vice president of compensation and benefits, a past recipient of the National Business Group on Health’s annual Award for Excellence and Innovation in Value Purchasing.

“Option 1” and “Option 2” are built on a PPO platform providing in- and out-of-network coverage. While the core benefits are the same, Option 1 features lower deductible, coinsurance and annual out-of-pocket maximum amounts than Option 2.

For 2015, employees who want to remain in Option 1 must complete a health screening by Oct. 1, 2014.

The required screening is part of Lowe’s “Stamp Out Silent Killers” program aimed at identifying risks for heart disease, diabetes and stroke and encouraging employees to take steps to improve their health.

It is one of several initiatives in which Lowe’s is leveraging data to lower health costs and improve outcomes.

Lowe’s made headlines in 2010 when it forged a direct contracting relationship with the Cleveland Clinic for heart surgery. If an employee opts into the domestic medical tourism program, the company will cover transportation and related expenses for him or her and a companion.

In 2013, the hardware retailer joined with other employers through the Pacific Business Group on Health to offer no-cost knee and hip replacement and spinal surgeries at centers of excellence around the country.

Lowe’s isn’t sharing specific metrics, but Mr. Ihrie said the results are positive. “The biggest savings are around quicker return to work and better health outcomes, meaning that we don’t have any repeat surgeries,” he said.

Lowe’s also has a high-deductible health plan but hasn’t pushed that option nationwide. And it offers just one HMO — Kaiser Foundation Health Plans — in California, Colorado, Oregon, Georgia and the Mid-Atlantic region. That’s down from 32 HMO plans in 2003.

“Only Kaiser has been successful in delivering care efficiently,” Mr. Ihrie said.

Two years ago, Lowe’s health-plan cost trend spiked at a double-digit rate of 14%-15% due to Affordable Care Act mandates and taxes. Last year, costs grew at a year-over-year rate of 7%. But in the five previous years, costs grew at just 5% per year.

“My goal is to get us back to that if we can,” Mr. Ihrie said.