This client is a financial services company located in New York, NY with 225 employees.
This company had implemented an expansive worksite benefit portfolio during the prior year’s open enrollment period with low participation from their employees. Upon discussions with the client, our team learned that there were few employee meetings, minimal marketing of the new programs and their existing HRIS system did not support benefit education.
MBA Solution Presented
Our voluntary team was brought in to advance benefit education and support enrollment in all plans offered during the company’s next open enrollment period. One on one presentations to employees were conducted to provide for more educated benefit selections and a dedicated call center was made available to all workers. It is projected that the customized benefit communication efforts and employee focused implementation process for employees in all locations will result in a very successful enrollment with increased participation in all lines of coverage.
Net Savings: With increased enrollment in alternative, less expensive programs, the employer was able to realize an annual savings of over $47,000.