A company with 135 employees and multiple locations throughout the Midwest asked us to evaluate their benefits program.

Referred to us by another client, they had a longstanding relationship with another brokerage. Utilizing a self-funded health care plan for over ten years, they conducted annual market reviews but had not identified a viable alternative.

Our comprehensive evaluation included the review of the medical claims experience. The review identified a higher than average claims experience in a specific market location. We also identified a higher than average frequency of work-related injuries and noted that a large percentage of employees and dependents had annual claims of less than $500.

Our experience has been that a single healthcare option often requires the employer and employee to pay higher premiums than are actually required for a large portion of the employee base. After a review of alternative options in the market, we identified and were able to negotiate healthcare plans, specific to their multiple locations, with multiple carriers. This provided the client a 34% savings over future expected costs from their current self-funded plan. We also helped the client implement a dual-option benefit plan that utilized a qualified high deductible health plan and health savings account. This helped the client address multiple needs within the employee base.

To tackle the higher than average frequency of work-related injuries, we worked with the HR Director to implement an employee safety program. We also helped develop and deliver health fairs to promote healthy lifestyle and better health recognition through health risk assessments. Employees now pay different premiums based on lifestyle choices for both single and family health care coverage.

As a result of these activities and initiatives, the client has successfully offered their employees a fully insured medical care plan the past seven years with average annual increases of less than 5%.