Manufacturing and Metal Fabrication
The challenge:
With a multi-state, 300-employee workforce, their current benefits plan saw double-digit annual increases and out-of-control premium costs. Enrollment season hurt company productivity because of the frustration around employee benefits. Management had limited knowledge of their health insurance options and wasn’t aware of solutions that could lower their cost and give employees a personalized health insurance experience.
The solution:
We implemented a plan to allow employees to choose the health insurance plan that worked best for their needs. We also brought in benefit coaches to help employees understand their options during enrollment.
The impact:
The employees love having the ability to choose the plan that meets their medical and financial needs instead of being locked into the employer’s plans. By moving away from the typical group model, the employer was able to pay for a higher percentage of their employees’ premiums; saving their employees and their families significant money. Now, open enrollment is no longer a black eye for the employer.
Health and Fitness
The challenge:
Having just over 50 employees meant their insurance costs were very high, and they were facing a double-digit renewal increase. They were one health event from their health insurance program imploding.
The solution:
We implemented a plan to allow employees to choose the health insurance plan that worked best for their needs. We also brought in benefit coaches to help employees understand their options during enrollment.
Cost reduction of 13% compared to their previous plan.
- Existing group plan would see a 15% year-over-year increase.
- $251,588 in savings in 2021.
- Over $2 million in projected savings between 2020-2025.
The impact:
Manufacturing
The challenge:
We took over the case just two weeks before enrollment began. This 300-employee local manufacturing company was faced with a 29% cost increase to their existing plan. To add even more pressure, the employees had just voted to leave their union but didn’t want to lose any health benefits.
The solution:
We were able to offer a smaller network that 98% of the employees already used and provide more choices for the employees to choose from. We also brought in benefit coaches to help employees understand the selections they were making.
The impact:
By introducing a high-deductible health plan, employees were able to reduce their healthcare spending. We also brought in benefits coaches to help employees make educated health plan decisions. This led to significant savings for both the employees and employers.
Education
The challenge:
Their existing plan had limited options, they were coming off a year with a 150% loss ratio, and were looking at another premium increase of 15%. We had limited time to find an option that provided the coverage they needed while saving them money.
The solution:
We introduced a smaller network for the employees to use that didn’t require open access because, while some do, not all employees want or need access to the Mayo clinic. By bringing in benefit coaches, we helped employees understand the selections they were making. We also provided each employee access to a personal health assistant who would help support them when dealing with any health concerns throughout the year.