A marketing firm with 45 employees spread among two locations in Pennsylvania.
This prospect was unhappy with their current broker and looking for a change. They thought more could be done to help control their employee benefit budget and were looking for guidance. They came to us with a 17% health insurance renewal.
MBA Solution Presented
Our MBA team met with the business owner and human resource director explaining our approach as group benefit consultants. They discussed the company’s objectives and philosophy regarding their employee benefits program and reviewed their current benefit structure and costs. Our MBA Benefit Advisor outlined options for cost containment strategies and how to integrate wellness into their benefits portfolio while our Account Executive explained some methods for better communication of the benefit programs to employees. Finally, our MBA Technology Specialist demonstrated our online enrollment and benefits administration system, client portal, and our HR Advisory solution.
The customer was pleased with our presentation and elected to move forward with us as their new benefit consultant. We immediately made some changes to their current program, added two more health plans (including an HSA program), modified the employee contribution schedule, installed a wellness program and provided the employees with a selection of voluntary benefits. Our benefit administration system, client portal and HR Advisory solution were implemented.
We were not only able to reduce their overall health insurance increase to just 12% (saving them over $30,000), but the client was also able to pay for the wellness program through the savings in their ancillary programs, which we were able to procure by moving them to another carrier.