Mining Corporation

Challenge:
A mid-size employer, fluctuating in employee size between 150-400 due to mining contracts which vary in size and project length.  Needed their health plan benefit offering and annual rate changes to be stable through their self-funded program. 

Solution:

Work with a leading, nationwide insurance carrier, to accurately establish cost factors for a competitive benefit package. The relationships built a 25-year partnership between the client, the insurance carrier and us.

Impact:

Financial stability for the company and employees. Recognized within the mining industry as having the most affordable and comprehensive benefit package amongst all their competitors. Health plan renewal rate changes averaged 1.31% over the last 5 years, 2.22% over the last 10 years. No change in employee contributions to the health plan for the last 13 years. In 2024, negotiated lower annual fixed costs for hybrid self-funded plan, saving over $700,000. Also added incentive program for using top quality providers, offering employees $1,000 first dollar fund, which lowered their net deductible and out-of-pocket costs.