Title Company

Challenge:
The CEO of one of the largest title companies in Arizona attended a Benefit Commerce Group healthcare workshop in 2014. He liked what he heard…not the same old strategies. The firm is a privately held company, competing with large, national title companies relative to talent, compensation, and benefits. Not an easy task. Compounding the challenge was steady increasing health plan costs that were eating into margins and impacting employee payroll deductions…a delicate balancing act the CEO was tired of.

Solution:

In 2014, BCG helped them re-design their health plan to include first-dollar healthcare accounts for covered employees and families, funded by the company. The strategy included rollover of unused funds to the next year. Best of all, the combination of the healthcare account and the medical benefits kept the economic value of the plan the same as before.

Impact:

As of 2024, that is still the case…no change in the actuarial value of the plan since 2015. From 2015-2024, their health plan costs have only increased 1.7% per year. That is a $3.1 million savings vs median trends. And, the employer funds healthcare accounts for employees of $1,350 per year and $2,700 per year for families.